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Equifax Inc (EFX) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

Equifax Inc

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CIK: 33185 Ticker: EFX

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Exhibit 99.1
 
 1550 Peachtree Street, N.W. Atlanta, Georgia 30309

NEWS RELEASE
Contact:
 
Dorian HareBen Sheidler
Investor RelationsMedia Relations
(404) 885-8210mediainquiries@equifax.com
dorian.hare@equifax.com
 
ATLANTA, July 21, 2021
-- Equifax Inc. (NYSE: EFX) today announced financial results for the quarter ended June 30, 2021.

•Highest ever quarterly revenue of $1.2 billion, up 26%; sixth consecutive quarter of double-digit revenue growth and EPS growth
•Broad-based revenue growth with Workforce Solutions up 40%, USIS up 11%, and International up 39% in reported currency and 25% in local currency
•Continued progress on EFX Cloud data and technology transformation
•Delivered 46 new products leveraging EFX Cloud
•Executing EFX2023 strategic framework leveraging EFX Cloud for innovation, new products and growth
•Increasing full-year revenue and EPS guidance

“We continued our strong financial performance with our sixth consecutive quarter of strong double-digit revenue growth and EPS growth, building on our strong first quarter and 2020 results. Our record $1.235 billion revenue and 26% overall revenue growth was powered by broad-based growth from Workforce Solutions, USIS, and International. Workforce Solutions continues to drive our results, with revenue growth of 40% in the quarter despite a decline in the mortgage market from last year’s elevated levels,” said Mark W. Begor, Equifax Chief Executive Officer. “We are continuing to execute on our EFX2023 growth strategy, leveraging the EFX Cloud to drive innovation, new product roll-outs and growth, while expanding our differentiated data sets and decisioning power to bring new and unique solutions to our customers that only Equifax can deliver. Our strong outperformance, balance sheet, and cash generation is allowing us to reinvest in the EFX Cloud and bolt-on acquisitions to enhance our capabilities. We are confident in our outlook for 2021 and are again raising our full-year financial guidance, reflecting this to a range of $4,760 million to $4,800 million, and our Adjusted EPS guidance to a range of $7.25 to $7.45.”


Financial Results Summary

The company reported revenue of $1,234.8 million in the second quarter of 2021, up 26 percent compared to the second quarter of 2020 on a reported basis and 23 percent on a local currency basis.

Net income attributable to Equifax of $215.1 million was up 115 percent in the second quarter of 2021 compared to net income attributable to Equifax of $100.2 million in the second quarter of 2020.

Diluted EPS attributable to Equifax was $1.74 for the second quarter of 2021, up 113 percent compared to $0.82 in the second quarter of 2020.

1
The following information was filed by Equifax Inc (EFX) on Wednesday, July 21, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Equifax Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover
Accumulated Other Comprehensive Loss Statement
Accumulated Other Comprehensive Loss Statement (Parenthetical)
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Income
Consolidated Statements Of Shareholders' Equity And Accumulated Other Comprehensive Loss
Consolidated Statements Of Shareholders' Equity And Accumulated Other Comprehensive Loss (Parenthetical)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Tables)
Accumulated Other Comprehensive Loss - Schedule Of Changes In Accumulated Other Comprehensive Income (Details)
Acquisitions And Investments
Acquisitions And Investments (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
Debt (Tables)
Debt - Narrative (Details)
Debt - Schedule Of Debt Outstanding (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Narrative (Details)
Goodwill And Intangible Assets - Schedule Of Changes In Amount Of Goodwill (Details)
Goodwill And Intangible Assets - Schedule Of Estimated Future Amortization Expense (Details)
Goodwill And Intangible Assets - Schedule Of Purchased Intangible Assets (Details)
Income Taxes
Income Taxes (Details)
Restructuring Charges
Restructuring Charges (Details)
Revenue
Revenue (Tables)
Revenue - Disaggregation Of Revenue (Details)
Revenue - Remaining Performance Obligation (Details)
Segment Information
Segment Information (Tables)
Segment Information - Narrative (Details)
Segment Information - Operating Revenue And Operating Income By Operating Segment (Details)
Segment Information - Total Assets By Operating Segments (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies - Reconciliation Of Weighted-Average Outstanding Shares Used In Calculations Of Basic And Diluted Eps (Details)
Summary Of Significant Accounting Policies - Rollforward Of Allowance For Doubtful Accounts (Details)
Ticker: EFX
CIK: 33185
Form Type: 10-Q Quarterly Report
Accession Number: 0000033185-21-000044
Submitted to the SEC: Thu Jul 22 2021 4:23:59 PM EST
Accepted by the SEC: Thu Jul 22 2021
Period: Wednesday, June 30, 2021
Industry: Consumer Credit Reporting Collection Agencies

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