TransUnion Q4 2020 and Full Year Revenues Up 2%

TransUnion (NYSE: TRU) (the “Company”) has announced financial results for the quarter and year ended December 31, 2020.

Total revenue for the quarter was $699 million, an increase of 2 percent (2 percent on a constant currency basis, 1 percent on an organic constant currency basis) compared with the fourth quarter of 2019.
Net income attributable to TransUnion was $102 million for the quarter, compared with $83 million for the fourth quarter of 2019. Diluted earnings per share was $0.53, compared with $0.43 for the fourth quarter of 2019.
Adjusted Net Income was $153 million for the quarter, compared with $144 million for the fourth quarter of 2019. Adjusted Diluted Earnings per Share for the quarter was $0.80, compared with $0.75 for the fourth quarter of 2019.
Adjusted EBITDA was $269 million for the quarter, a decrease of 2 percent (2 percent on a constant currency basis, 1 percent on an organic constant currency basis) compared with the fourth quarter of 2019. Adjusted EBITDA margin was 38.5 percent, compared with 40.2 percent for the fourth quarter of 2019.

Fourth Quarter 2020 Segment Results

U.S. Markets revenue was $431 million, an increase of 4 percent (3 percent on an organic basis) compared with the fourth quarter of 2019. Adjusted EBITDA was $162 million, a decrease of 2 percent (1 percent on an organic basis) compared with the fourth quarter of 2019.

International revenue was $160 million, a decrease of 4 percent (2 percent on a constant currency basis) compared with the fourth quarter of 2019. Adjusted EBITDA was $65 million, a decrease of 6 percent (4 percent on a constant currency basis) compared with the fourth quarter of 2019.

Consumer Interactive revenue was $126 million, an increase of 3 percent compared with the fourth quarter of 2019. Adjusted EBITDA was $61 million, a decrease of 2 percent compared with the fourth quarter of 2019.

Full Year 2020 Results

Total revenue for the year was $2.717 billion, an increase of 2 percent compared with 2019 (3 percent on a constant currency basis, 3 percent on an organic constant currency basis). Adjusted Revenue for the year was also $2.717 billion, an increase of 2 percent (3 percent on a constant currency basis, 2 percent on an organic constant currency basis).

Net income attributable to TransUnion was $343 million for the year, compared with $347 million for 2019. Diluted earnings per share was $1.79 for the year, compared with $1.81 in 2019. Adjusted Net Income was $577 million, compared with $536 million in 2019. Adjusted Diluted Earnings per Share was $3.00 for the year, compared with $2.79 in 2019. Adjusted EBITDA for the year was $1.045 billion, a decrease of 1 percent compared with 2019 (1 percent on a constant currency basis, flat on an organic constant currency basis). Adjusted EBITDA margin for the year was 38.5 percent, compared with 39.8 percent in 2019.

“Despite the ongoing challenges posed by the global pandemic, TransUnion delivered another quarter of revenue growth while also continuing to make significant investments to fuel our long-term growth,” said Chris Cartwright, President and CEO of TransUnion. “Over the course of the year, TransUnion associates around the world remained focused on serving our customers, consumers and communities as we all dealt with the pandemic, leading to strengthened relationships and the ability to generate revenue growth at attractive margins in the face of economic weakness.”

“During 2020, we accelerated our investments in Global Solutions, Global Operations and our technology transformation, Project Rise, and are beginning to see meaningful benefits including new strategic partnerships and solutions, greater efficiencies and an improved customer experience. We are confident that these actions position TransUnion for continued superior financial and commercial performance in the future,” he concluded.