TransUnion (NYSE: TRU) (the “Company”) reported revenue for the quarter was $662 million, an increase of 18 percent (19 percent on a constant currency basis, 10 percent on an organic constant currency basis) compared with the second quarter of 2018.
- Adjusted Revenue, which removes the impact of deferred revenue purchase accounting reductions and other adjustments to revenue for our recently acquired entities, was $664 million for the quarter, also an increase of 18 percent (19 percent on a constant currency basis, 10 percent on an organic constant currency basis).
- Net income attributable to TransUnion was $101 million for the second quarter, compared with $55 million in the second quarter of 2018. Diluted earnings per share was $0.53 for the quarter, compared with $0.29 in the second quarter of 2018.
- Adjusted Net Income was $132 million, compared with $119 million in the second quarter of 2018. Adjusted Diluted Earnings per Share was $0.69, compared with $0.62 in the second quarter of 2018.
- Adjusted EBITDA for the quarter was $264 million, an increase of 20 percent (21 percent on a constant currency basis, 13 percent on an organic constant currency basis) compared with the second quarter of 2018. Adjusted EBITDA margin for the quarter was 39.7 percent, compared with 39.2 percent in the second quarter of 2018.
“TransUnion delivered a good second quarter with strong Adjusted Revenue and Adjusted EBITDA growth,” said Chris Cartwright, President and CEO. “Notably, in the U.S., we saw a re-acceleration of our Financial Services and Healthcare verticals as well as further outstanding growth in our Insurance business. Internationally, we continue to see broad-based strength including significant growth in India, Latin America and Canada. Across our business, we are delivering market leadership through innovation, attractive adjacencies and well executed, focused go-to-market strategies. During the quarter, we also prepaid $100 million of debt while also acquiring TruSignal and making an equity investment in Payfone, both companies that help further develop our growing Media vertical.
“Looking ahead, we are well positioned to deliver another very good year in 2019 and we are making the right strategic investments to position us for strong future performance.”
Source: TransUnion Earnings Release