TransUnion (NYSE: TRU) announced financial results for the quarter and year ended December 31, 2019:

Fourth Quarter 2019 Results:

Total revenue for the quarter was $686 million, an increase of 12 percent (12 percent on a constant currency basis, 12 percent on an organic constant currency basis) compared with the fourth 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 also $686 million for the quarter, an increase of 10 percent (10 percent on a constant currency basis, 10 percent on an organic constant currency basis, 11 percent on an organic constant currency basis excluding last year’s incremental credit monitoring revenue due to a breach at a competitor) compared with the fourth quarter of 2018.

Earnings: Net income attributable to TransUnion was $83 million for the quarter, compared with $102 million for the fourth quarter of 2018. Diluted earnings per share was $0.43, compared with $0.53 for the fourth quarter of 2018.

Adjusted Net Income was $144 million for the quarter, compared with $126 million for the fourth quarter of 2018. Adjusted Diluted Earnings per Share for the quarter was $0.75, compared with $0.66 for the fourth quarter of 2018. • Adjusted EBITDA was $275 million for the quarter, an increase of 11 percent (11 percent on a constant currency basis, 11 percent on an organic constant currency basis) compared with the fourth quarter of 2018. Adjusted EBITDA margin was 40.2 percent, compared with 39.9 percent for the fourth quarter of 2018.

Full Year 2019 Results Total revenue for the year was $2.656 billion, an increase of 15 percent compared with 2018 (16 percent on a constant currency basis, 11 percent on an organic constant currency basis). Adjusted Revenue was $2.662 billion for the year, an increase of 14 percent compared with 2018 (14 percent on a constant currency basis, 9 percent on an organic constant currency basis). Acquisitions accounted for a 5 percent increase in revenue and a 5 percent increase in Adjusted Revenue.

Net income attributable to TransUnion was $347 million for the year, compared with $277 million for 2018. Diluted earnings per share was $1.81 for the year, compared with $1.45 in 2018. Adjusted Net Income was $536 million, compared with $477 million in 2018. Adjusted Diluted Earnings per Share was $2.79 for the year, compared with $2.50 in 2018.

“TransUnion delivered a strong conclusion to the year with double-digit organic Adjusted Revenue, Adjusted EBITDA and Adjusted Diluted EPS growth in the fourth quarter,” said Chris Cartwright, President and CEO. “This quarter caps another outstanding year for TransUnion. In addition to our financial performance, we continue to evolve our organization, invest aggressively in innovation and critical capabilities, and fund strategic acquisitions while also reducing our debt with $400 million of prepayments over the past 13 months.” “Today, we also announced an accelerated technology investment in our infrastructure, platform and processes that will allow us to increasingly refactor our applications to be more secure, reliable and performant by leveraging a hybrid public-private cloud approach.” “As we look forward, I am highly confident that TransUnion is well positioned for another strong year in 2020 and that our ongoing investments set us up for long-term attractive performance,” Cartwright added.

Source: TransUnion Earnings Release