NYSE$EFX
Equifax Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Equifax's Q4 2023 financial results were announced, showcasing revenue growth despite challenges in the mortgage market.
Equifax reported a strong Q4 2023 with an 11% increase in revenue to $1.327 billion. Adjusted EPS increased by 19% to $1.81. The company's non-mortgage business saw a 14% local currency revenue growth, driven by new product performance and strong growth in Workforce Solutions and International segments.
- Equifax's Q4 2023 revenue grew by 11% to $1.327 billion, driven by a 14% non-mortgage local currency revenue growth.
- Workforce Solutions revenue increased by 10%, with a 17% non-mortgage revenue growth, and Verification Services non-mortgage revenue growth of 27%.
- USIS revenue grew by 5%, with mortgage revenue up by 16% and non-mortgage revenue up by 3%.
- International revenue increased by 20% on a reported basis and 22% on a local currency basis, with organic local currency revenue growth of 6%.
Headline financials
Revenue & EPS history
Equifax · Revenue · Quarterly
$1.33B
Revenue by segment
Equifax · $2.18B total across 7 segments · Q4 2021
- Workforce Solutions$532M+30.8%24.4%
- U.S. Information Solutions$434M+12.0%19.9%
- Verification Services$427M—19.6%
- Online Information Solutions$314M—14.4%
- International$288M+16.2%13.2%
- Employer Services$105M—4.8%
- Financial Marketing Services$79.4M—3.6%
Forward guidance
Equifax issued its full-year 2024 guidance midpoint expectation for revenue of $5.720 billion, up 8.6%, with strong non-mortgage local currency revenue growth of over 10.5% and Adjusted EPS of $7.35. This reflects an expected 16%+ decline in our outlook for 2024 U.S. mortgage credit inquiries
Tailwinds
- Revenue is expected to grow by 8.6%.
- Non-mortgage local currency revenue growth is expected to be over 10.5%.
- Adjusted EPS is projected to be $7.35.
- EBITDA margins are expected to expand to 33.3%.
- The company anticipates outperforming the U.S. mortgage market by approximately 24% across USIS and Workforce Solutions.
Headwinds
- An over 16% decline in U.S. mortgage credit inquiries is expected.
- First half mortgage credit inquiries are anticipated to be weaker than the second half.
- Guidance reflects an expectation of an over 16% decline in U.S. mortgage credit inquiries.
- Normalization of incentive plans will lead to higher costs.
- Mortgage Solutions revenue was $22.9 million, down 12 percent when compared to the fourth quarter of 2022.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
-0.6%
Avg return
Earnings day
-0.6%
Avg return
5 days after
+1.4%
Avg return
30 days after
43%
30 / 70 earnings
Positive
+15.2%
Q1 2021
Best reaction
-17.4%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.2% | -13.1% | -19.4% | |
| Q4 2025 | -3.8% | +14.0% | +18.7% | |
| Q3 2025 | -0.6% | +1.2% | -10.6% | |
| Q2 2025 | -2.1% | -1.3% | +1.2% | |
| Q1 2025 | +13.8% | +19.1% | +22.4% | |
| Q4 2024 | -8.4% | -6.4% | -5.8% | |
| Q3 2024 | -3.4% | -4.9% | -14.4% | |
| Q2 2024 | -0.2% | +1.9% | +10.5% | |
| Q1 2024 | -8.8% | -8.2% | +4.3% | |
| Q4 2023 | +3.6% | +5.1% | +11.0% | |
| Q3 2023 | -1.0% | -1.0% | +13.5% | |
| Q2 2023 | -9.0% | -13.1% | -19.2% | |
| Q1 2023 | +3.8% | +3.1% | +7.9% | |
| Q4 2022 | -7.3% | -4.1% | -13.4% | |
| Q3 2022 | -9.5% | -5.4% | +20.6% | |
| Q2 2022 | -0.2% | -1.4% | +3.8% | |
| Q1 2022 | -7.1% | -2.3% | -10.9% | |
| Q4 2021 | -2.1% | -6.4% | -5.2% | |
| Q3 2021 | -6.5% | +0.6% | +5.7% | |
| Q2 2021 | -2.7% | -0.6% | +0.8% | |
| Q1 2021 | +15.2% | +17.3% | +23.4% | |
| Q4 2020 | -3.4% | -1.2% | -4.8% | |
| Q3 2020 | -2.4% | -5.5% | +7.5% | |
| Q2 2020 | +6.2% | -0.6% | -4.2% | |
| Q1 2020 | +1.6% | +2.7% | +16.8% | |
| Q4 2019 | +5.8% | +6.3% | -8.2% | |
| Q3 2019 | -1.2% | -1.9% | -0.9% | |
| Q2 2019 | -2.1% | +1.6% | +0.9% | |
| Q1 2019 | -2.2% | -0.3% | +9.3% | |
| Q4 2018 | +1.1% | +1.0% | +3.3% | |
| Q3 2018 | -17.4% | -18.8% | -15.1% | |
| Q2 2018 | -3.1% | -1.3% | +4.2% | |
| Q1 2018 | -2.7% | -5.9% | -3.3% | |
| Q4 2017 | +3.7% | +7.4% | +4.3% | |
| Q3 2017 | +1.4% | +2.0% | +9.5% | |
| Q2 2017 | -1.5% | +0.4% | -2.8% | |
| Q1 2017 | -2.4% | -3.2% | -2.2% | |
| Q4 2016 | +5.8% | +7.4% | +10.0% | |
| Q3 2016 | -5.6% | -5.0% | -8.0% | |
| Q2 2016 | -1.9% | -3.0% | -3.4% | |
| Q1 2016 | +2.7% | — | — | |
| Q4 2015 | +0.2% | — | — | |
| Q3 2015 | -4.1% | — | — | |
| Q2 2015 | +2.1% | — | — | |
| Q1 2015 | +4.1% | — | — | |
| Q4 2014 | +8.5% | — | — | |
| Q3 2014 | -2.6% | — | — | |
| Q2 2014 | +2.7% | — | — | |
| Q1 2014 | +0.9% | — | — | |
| Q4 2013 | -2.2% | — | — | |
| Q3 2013 | +3.4% | — | — | |
| Q2 2013 | +0.6% | — | — | |
| Q1 2013 | +2.8% | — | — | |
| Q4 2012 | -6.2% | — | — | |
| Q3 2012 | -0.1% | — | — | |
| Q2 2012 | -2.7% | — | — | |
| Q1 2012 | +6.0% | — | — | |
| Q4 2011 | +0.1% | — | — | |
| Q3 2011 | +5.0% | — | — | |
| Q2 2011 | +3.7% | — | — | |
| Q1 2011 | +3.1% | — | — | |
| Q4 2008 | -2.2% | — | — | |
| Q4 2010 | -2.2% | — | — | |
| Q3 2010 | +2.2% | — | — | |
| Q3 2009 | +2.2% | — | — | |
| Q2 2009 | +3.6% | — | — | |
| Q2 2010 | +3.6% | — | — | |
| Q1 2010 | -4.7% | — | — | |
| Q1 2009 | -4.7% | — | — | |
| Q4 2009 | -4.7% | — | — |
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