Equifax Q2 2021 Segment Results

Equifax Inc. (NYSE: EFX) has announced its highest ever quarterly revenue of $1.2 billion, up 26%; sixth consecutive quarter of double-digit revenue growth and EPS growth.

Financial Results Summary

The company reported revenue of $1,234.8 million in the second quarter of 2021, up 26 percent compared to the second quarter of 2020 on a reported basis and 23 percent on a local currency basis.

Workforce Solutions second quarter results

• Total revenue was $495.7 million in the second quarter of 2021, a 40 percent increase compared to the second quarter of 2020. Operating margin for Workforce Solutions was 53.5 percent in the second quarter of 2021 compared to 49.4 percent in the second quarter of 2020. Adjusted EBITDA margin for Workforce Solutions was 58.0 percent in the second quarter of 2021 compared to 56.3 percent in the second quarter of 2020.
• Verification Services revenue was $394.5 million, up 57 percent compared to the second quarter of 2020.
• Employer Services revenue was $101.2 million, flat compared to the second quarter of 2020.

USIS second quarter results

• Total revenue was $405.8 million in the second quarter of 2021, up 11 percent compared to $365.6 million in the second quarter of 2020. Operating margin for USIS was 31.1 percent in the second quarter of 2021 compared to 30.9 percent in the second quarter of 2020. Adjusted EBITDA margin for USIS was 40.3 percent in the second quarter of 2021 compared to 44.1 percent in the second quarter of 2020.
• Online Information Solutions revenue was $298.0 million, up 13 percent compared to the second quarter of 2020.
• Mortgage Solutions revenue was $49.3 million, down 4 percent compared to the second quarter of 2020.
• Financial Marketing Services revenue was $58.5 million, up 14 percent compared to the second quarter of 2020.

International second quarter results

• Total revenue was $250.9 million in the second quarter of 2021, up 39 percent and up 25 percent compared to the second quarter of 2020 on a reported and local currency basis, respectively. Operating margin for International was 11.7 percent in the second quarter of 2021, compared to negative 3.4 percent in the second quarter of 2020. Adjusted EBITDA margin for International was 27.3 percent in the second quarter of 2021, compared to 21.9 percent in the second quarter of 2020.
  • Asia Pacific revenue was $91.4 million, up 40 percent and up 21 percent compared to the second quarter of 2020 on a reported and local currency basis, respectively.
  • Europe revenue was $68.4 million, up 42 percent and up 27 percent compared to the second quarter of 2020 on a reported and local currency basis, respectively.
  • Latin America revenue was $44.0 million, up 29 percent and up 30 percent compared to the second quarter of 2020 on a reported and local currency basis, respectively.
  • Canada revenue was $47.1 million, up 42 percent and up 26 percent compared to the second quarter of 2020 on a reported and local currency basis, respectively.

Global Consumer Solutions second quarter results

• Total revenue was $82.4 million in the second quarter of 2021, down 2 percent and down 3 percent compared to the second quarter of 2020 on a reported and local currency basis, respectively. Operating margin was 14.5 percent in the second quarter of 2021 compared to 9.3 percent in the second quarter of 2020. Adjusted EBITDA margin was 22.5 percent in the second quarter of 2021, compared to 20.8 percent in the second quarter of 2020.

Source:  Equifax Q2 Earnings Report