TransUnion Announces Fourth Quarter 2020 Results
•Delivered another quarter of revenue growth with an attractive margin, and benefited from marketplace success as well as continued economic recovery in most markets.
•Accelerated investments in Global Solutions and Global Operations, acquired Tru Optik, prepaid $150 million of debt and delivered on critical milestones for Project Rise.
•Providing first quarter and full year 2021 financial guidance.
CHICAGO, February 16, 2021 - TransUnion (NYSE: TRU) (the “Company”) today announced financial results for the quarter and year ended December 31, 2020.
Fourth Quarter 2020 Results
•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.
“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.
The following information was filed by Transunion (TRU) on Tuesday, February 16, 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.