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TransUnion Reports Strong Fourth Quarter and Full Year 2017 Results;
Company Announces Adoption of Dividend Policy
CHICAGO, February 13, 2018 - TransUnion (NYSE: TRU) (the “Company”) today announced financial results for the quarter ended December 31, 2017.
Total revenue was $506 million, an increase of 16 percent on an as reported and constant currency basis, compared with the fourth quarter of 2016. Acquisitions accounted for a 3 percent increase in revenue. Net income attributable to TransUnion was $245 million, compared with $50 million in the fourth quarter of 2016. Diluted earnings per share was $1.29, including the impact from U.S. tax reform, compared with $0.27 in the fourth quarter of 2016. The increases in net income attributable to TransUnion and diluted earnings per share were significantly impacted by the estimated tax provision benefits from the Tax Cuts and Jobs Act.
Adjusted EBITDA was $196 million, an increase of 16 percent (15 percent on a constant currency basis) compared with the fourth quarter of 2016. Adjusted EBITDA margin was 38.8 percent, the same as the fourth quarter of 2016. Adjusted Diluted Earnings per Share was $0.50, an increase of 13 percent compared with the fourth quarter of 2016. Adjusted EBITDA, Adjusted EBITDA margin and Adjusted Diluted Earnings per Share exclude the estimated one-time tax provision benefit of $174 million due to the Tax Cuts and Jobs Act and other certain other adjustments.
“TransUnion reported a solid fourth quarter to cap a strong year in 2017,” said Jim Peck, President and CEO. “In fact, this marks the third consecutive year in which we’ve delivered double-digit revenue, adjusted EBITDA and adjusted EPS growth. Over those three years, our adjusted EBITDA margin expanded by about 400 basis points.”
“We delivered these strong results by executing a strategy built on innovation, expansion in attractive vertical and geographic markets and an ongoing focus on enabling and empowering consumers while fully leveraging our enterprise capabilities.”
“We have also allocated capital strategically and prudently. That strategy continues to evolve with today’s announcement that our Board of Directors has approved a dividend policy. At the same time, we will be opportunistic in using the remainder of our share buyback authorization.”
“What is not changing is our top priority to always fully invest in the robust pipeline of organic and inorganic opportunities which have been essential to our growth and will be for the long term.”
“With a track record of strong performance and sound capital allocation, we believe that TransUnion is very well positioned for further success in 2018 and beyond.”
Fourth Quarter 2017 Segment Results
U.S. Information Services (USIS)
USIS revenue was $312 million, an increase of 16 percent compared with the fourth quarter of 2016.
Online Data Services revenue was $200 million, an increase of 18 percent over the prior year.
Marketing Services revenue was $51 million, an increase of 14 percent over the prior year.
Decision Services revenue was $61 million, an increase of 15 percent over the prior year.
Operating income was $75 million, an increase of 10 percent compared with the fourth quarter of 2016. Adjusted Operating Income was $103 million, an increase of 11 percent compared with the fourth quarter of 2016.
The following information was filed by Transunion (TRU) on Tuesday, February 13, 2018 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.