The Company reported revenue of $1,118.5 million in the fourth quarter of 2020, a 23 percent increase from the fourth quarter of 2019 on both a reported and local currency basis.  Fourth quarter 2020 diluted EPS attributable to Equifax was $0.61 per share, up from $0.13 per share in the fourth quarter of 2019.

Net income attributable to Equifax of $74.5 million was up from $15.8 million in the fourth quarter of 2019.

In the fourth quarter, Equifax incurred a $31.9 million charge related to right sizing the organization as investments in technology transformation are reduced in 2021 relative to 2020.

“Equifax delivered its fourth consecutive quarter of strong double-digit growth and margin expansion, concluding a record year in which we delivered over $4 billion in revenue for the first time. Workforce Solutions and U.S. Information Services outperformance fueled our 23% revenue growth in the fourth quarter by leveraging our new Equifax Cloud capabilities, new product roll-outs, new data assets, and customer growth,” said Mark W. Begor, Equifax Chief Executive Officer.

“We are entering a new chapter at Equifax as we leverage our expanding cloud native data, analytics and technology infrastructure to accelerate innovation, new products and growth. Our strong performance in these challenging times reflects the strength and resiliency of our business model as we look to build upon our momentum and focus on growth in 2021 and beyond. We are increasing our focus on acquisitions that will accelerate our growth including our acquisition of Kount in Identity and Fraud. Based on our confidence in the future we plan to restart our share repurchase program at an expected level over $100 million in 2021, to offset dilution from employee benefit plans.”

4th Quarter 2020 Segment Results Summary:

USIS:  Total revenue was $387.5 million in the fourth quarter of 2020, an increase of 17 percent from the fourth quarter of 2019. Operating margin for USIS was 29.6 percent in the fourth quarter of 2020, compared to 33.6 percent in the fourth quarter of 2019. Adjusted EBITDA margin for USIS was 43.5 percent in the fourth quarter of 2020, compared to 45.1 percent in the fourth quarter of 2019.

Workforce Solutions:  Total revenue was $406.5 million in the fourth quarter of 2020, a 62 percent increase from the fourth quarter of 2019. Operating margin for Workforce Solutions was 49.2 percent in the fourth quarter of 2020 compared to 39.2 percent in the fourth quarter of 2019. Adjusted EBITDA margin for Workforce Solutions was 56.2 percent in the fourth quarter of 2020, compared to 47.0 percent in the fourth quarter of 2019.

International:  Total revenue was $247.5 million in the fourth quarter of 2020, a 5 percent increase from the fourth quarter of 2019 and an increase of 3 percent on a local currency basis. Operating margin for International was 13.0 percent in the fourth quarter of 2020, compared to 15.3 percent in the fourth quarter of 2019. Adjusted EBITDA margin for International was 34.0 percent in the fourth quarter of 2020 compared to 36.4 percent in the fourth quarter of 2019.

Global Consumer Solutions: Revenue was $77.0 million, a 13 percent decrease from the fourth quarter of 2019 on a reported and local currency basis. Operating margin was 4.7 percent compared to 13.8 percent in the fourth quarter of 2019. Adjusted EBITDA margin was 20.8 percent compared to 26.9 percent in the fourth quarter of 2019.

For the full year 2020, revenue was $4,127.5 million, an 18 percent increase from 2019 on both a reported and local currency basis. Diluted EPS attributable to Equifax was $4.24 per share, up from a loss of $3.15 per share for the full year 2019. Net income attributable to Equifax was $520.1 million, up compared to a net loss of $384.1 million for the full year 2019.

Source: Equifax Earnings Release