Equifax stock climbs 8.8% after powerful Q1 earnings beat, strong guidance (see chart above)!

Equifax Inc. (NYSE: EFX) has announced highest ever quarterly revenue of $1.2 billion, up a record 27%; fifth consecutive quarter of double-digit revenue growth

  • Strong margin expansion and EPS growth
  • Workforce Solutions and USIS revenue growth of 59% and 19%, respectively, compared to the first quarter of 2020, with strong growth across both mortgage and non-mortgage businesses
  • Completed five strategic, bolt-on acquisitions focused on core growth areas: Kount, HIREtech, i2Verify, AccountScore and CreditWorks
  • Continued progress on Equifax Cloud Data and Technology Transformation
  • Executing EFX2023 strategic framework leveraging EFX Cloud for innovation, new products, and growth
  • Increasing full-year revenue and EPS guidance

“We delivered a powerful start to the year with our fifth consecutive quarter of strong double-digit revenue growth and continued margin expansion, building on the momentum from our record 2020 results. Our 27% revenue growth was powered by our combined US B2B Business — Workforce Solutions and USIS — which delivered a combined 38% revenue growth as we continued to significantly outpace the strong US mortgage market and deliver strong growth in our non-mortgage businesses,” said Mark W. Begor, Equifax Chief Executive Officer.

 “We continue to execute on our EFX2023 strategy, leveraging the EFX Cloud to drive new products, innovation and growth, while expanding our differentiated data sets and decisioning power to bring new and unique solutions to customers that only Equifax can deliver. Our strong outperformance, balance sheet and cash generation allowed us to reinvest in future growth by completing five bolt-on acquisitions during the quarter that enhanced our unique data assets and capabilities. We are confident in our outlook for 2021, and are raising our full-year revenue guidance to a range of $4,575 million to $4,675 million, and our Adjusted EPS guidance to a range of $6.75 to $7.05.”

Financial Results Summary

The company reported revenue of $1,213.0 million in the first quarter of 2021, up 27 percent compared to the first quarter of 2020 on a reported basis and 25 percent on a local currency basis. Net income attributable to Equifax of $201.6 million was up 72 percent in the first quarter of 2021 compared to net income attributable to Equifax of $116.9 million in the first quarter of 2020.  Diluted EPS attributable to Equifax was $1.64 for the first quarter of 2021, up 72 percent compared to $0.95 in the first quarter of 2020.




Source: Equifax Earnings Report

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