Company Announces Three-Year up to $300 Million Share Repurchase Program
Total revenue was $436 million, an increase of 13 percent, both as reported and on a constant currency basis compared with the fourth quarter of 2015. Acquisitions accounted for a 3 percent increase in revenue. Net income attributable to TransUnion was $50 million compared with $19 million in the fourth quarter of 2015. Diluted earnings per share was $0.27 compared with $0.10 in the fourth quarter of 2015.
Adjusted EBITDA was $169 million, an increase of 24 percent, both as reported and on a constant currency basis compared with the fourth quarter of 2015. Adjusted EBITDA margin was 38.8 percent, an increase of 340 basis points compared with the fourth quarter of 2015. Adjusted Diluted Earnings per Share was $0.44, an increase of 45 percent compared with the fourth quarter of 2015.
Full Year 2016 Results: Total revenue was $1,705 million, an increase of 13 percent (14 percent on a constant currency basis) compared with the full year of 2015, driven by double-digit growth in each of the three segments. Acquisitions accounted for a 2 percent increase in revenue. Net income attributable to TransUnion was $121 million compared with $6 million for the full year of 2015. Diluted earnings per share was $0.65 compared with $0.04 for the full year of 2015.
Adjusted EBITDA was $637 million, an increase of 21 percent (22 percent on a constant currency basis) compared with the full year of 2015. Adjusted EBITDA margin was 37.3 percent, an increase of 240 basis points compared with the full year of 2015. Adjusted Diluted Earnings per Share was $1.50, an increase of 38 percent compared with the full year of 2015.
“TransUnion delivered a strong fourth quarter that caps an outstanding full year in 2016,” said Jim Peck, TransUnion’s president and chief executive officer. “We delivered double-digit revenue, Adjusted EBITDA and Adjusted EPS growth for both the fourth quarter and full year 2016 while we continued to aggressively invest in our business for the long term. In 2016, we completed our next-generation technology platform that allows us to deliver cutting-edge innovation for our customers. We also made strategic acquisitions and invested organically in key growth initiatives, while driving meaningful margin expansion.”
“In 2017, we expect another strong year of revenue, Adjusted EBITDA and Adjusted EPS growth driven by solid broad-based growth across our diversified portfolio,” said Peck. “As a result of our strong financial performance, balance sheet deleveraging, and a long-term growth plan built on continuous innovation, we will begin to appropriately and opportunistically return capital to our shareholders. To that end, today we are announcing our intention to repurchase up to $300 million of stock over the next three years.”
Source: TransUnion
