TransUnion Q2 2021 Revenue Up 22%

Delivered strong growth, reflecting meaningful economic recovery in most of our markets and the benefits of our diversified, growth-oriented portfolio.
Increased full year 2021 financial guidance to reflect second quarter out-performance and a more bullish view of the remainder of the year.
Continuing to strategically invest to position TransUnion for long-term sustained growth.

Second Quarter 2021 Results

Our results for the second quarter of 2021 reflect significant improvements in demand for our services in most of the markets where we operate, including from improving macroeconomic conditions, that impact the comparability of results between periods.

Revenue:

Total revenue for the quarter was $774 million, an increase of 22 percent (20 percent on a constant currency basis, 19 percent on an organic constant currency basis) compared with the second quarter of 2020.

Earnings:

Net income attributable to TransUnion was $128 million for the quarter, compared with $69 million for the second quarter of 2020. Diluted earnings per share was $0.66, compared with $0.36 for the second quarter of 2020. Our second quarter 2021 net income attributable to TransUnion and diluted earnings per share were significantly impacted by a net expense reduction of $32.4 million (less an offsetting $8.1 million tax provision) for the legal matter described in “Legal Proceedings Update” below.
Adjusted Net Income was $185 million for the quarter, compared with $127 million for the second quarter of 2020. Adjusted Diluted Earnings per Share for the quarter was $0.96, compared with $0.66 for the second quarter of 2020.
Adjusted EBITDA was $319 million for the quarter, an increase of 31 percent (29 percent on a constant currency basis, 29 percent on an organic constant currency basis) compared with the second quarter of 2020. Adjusted EBITDA margin was 41.1 percent, compared with 38.2 percent for the second quarter of 2020.

“TransUnion delivered another very strong quarter as we have seen economic recovery continue to accelerate in most of our markets and are realizing the benefits of our strong, diversified portfolio,” said Chris Cartwright, President and CEO. “We have experienced significant recovery across most of our markets in the first six months of the year. Looking forward, we expect to continue to see market improvements in the second half of 2021 and we expect our organic growth to continue to outperform our underlying markets. At the same time, we recognize the continued challenges in many of our markets as the pandemic persists and continue to focus on the welfare of our employees and their families during this difficult time.”

“We also hold an advantageous position with significant balance sheet flexibility to invest in our business, pursue strategic acquisitions and deleverage our balance sheet. We remain committed to funding attractive growth opportunities to help TransUnion continue to deliver top-tier revenue growth at an attractive and expanding margin over the long-term while also remaining focused on the positive impact we can have on our associates, our communities, and all of our stakeholders,” Cartwright concluded.