Equifax Q4 2021 Revenue Up 12% – Full Year 2021 Revenue Up 19% | BIIA.com | Business Information Industry Association

Equifax Inc. (NYSE: EFX) reported a record fourth quarter 2021 revenue of $1.3 billion, up 12%

Workforce Solutions revenue growth of 29%; eleven consecutive quarters of double-digit revenue growth
Strong new product innovation leveraging new EFX Cloud
Closed in February bolt-on acquisition of Efficient Hire to enhance differentiated data and strengthen Workforce Solutions

The Company reported revenue of $1,253.2 million in the fourth quarter of 2021, a 12 percent increase from the fourth quarter of 2020 on both a reported and local currency basis. Fourth quarter 2021 diluted EPS attributable to Equifax was $0.99 per share, up from $0.61 per share in the fourth quarter of 2020. Net income attributable to Equifax of $122.1 million was up from $74.5 million in the fourth quarter of 2020.

For the full year 2021, revenue was $4,923.9 million, a 19 percent increase from 2020 on a reported and 18 percent on a local currency basis. Diluted EPS attributable to Equifax was $6.02 per share, up from $4.24 per share for the full year 2020. Net income attributable to Equifax was $744.2 million, up from net income of $520.1 million for the full year 2020.

“We delivered a strong 2021 with our eighth consecutive quarter of double-digit revenue growth. Our fourth quarter revenue of $1.253 billion was a record, up 12% despite a continued decline in the U.S. mortgage market. Our largest and fastest-growing business Workforce Solutions again powered our results, growing 29% along with strong growth contributions from USIS non-mortgage and International revenue,” said Mark W. Begor, Equifax Chief Executive Officer. “We have strong momentum as we enter 2022 and are continuing to reinvest our strong outperformance in bolt-on acquisitions that further position Equifax for diversified growth, including Efficient Hire, which enhances our robust suite of employer services.”

“Our EFX2023 growth strategy driving accelerated New Product Innovation leveraging the EFX Cloud, continued strong growth of Workforce Solutions, and further expanding our differentiated data will drive revenue and margin growth in 2022 and beyond by delivering differentiated solutions that ‘Only Equifax’ can provide. We are reconfirming our prior framework with full-year 2022 guidance reflecting our expectation of performance at the midpoint of revenue in a range of $5.250 billion to $5.350 billion, and Adjusted EPS in a range of $8.50 to $8.80. This reflects an increase in our core revenue growth that offsets our expectation of a sharper decline in the U.S. mortgage market of 21.5% compared to last year. We are energized about the New Equifax and remain confident in our long-term 8-12% growth framework that will deliver higher margins and free cash flow.”

The company changed its operating segments in the fourth quarter of 2021 and integrated the Global Consumer Solutions business into U.S. Information Solutions, Workforce Solutions and International operating segments. The change in operating segments has been applied retrospectively for the periods presented in this earnings release.

Workforce Solutions fourth quarter results: Total revenue was $531.6 million in the fourth quarter of 2021, up 29 percent from the fourth quarter of 2020.

USIS fourth quarter results: Total revenue was $434.0 million in the fourth quarter of 2021, flat compared to the fourth quarter of 2020. Operating margin for USIS was 30.5 percent in the fourth quarter of 2021, compared to 27.7 percent in the fourth quarter of 2020. Adjusted EBITDA margin for USIS was 39.4 percent in the fourth quarter of 2021, compared to 41.6 percent in the fourth quarter of 2020.

International fourth quarter results: Total revenue was $287.6 million in the fourth quarter of 2021, up 6 percent from the fourth quarter of 2020 on both a reported and local currency basis.