TransUnion Reports Second Quarter 2017 Results
CHICAGO, July 25, 2017 - TransUnion (NYSE: TRU) (the “Company”) today announced financial results for the quarter ended June 30, 2017.
Total revenue was $475 million, an increase of 12 percent (11 percent on a constant currency basis) compared with the second quarter of 2016. Acquisitions accounted for a 1 percent increase in revenue. Net income attributable to TransUnion was $65 million compared with $17 million in the second quarter of 2016. Diluted earnings per share was $0.34 compared with $0.09 in the second quarter of 2016.
Adjusted EBITDA was $186 million, an increase of 17 percent (16 percent on a constant currency basis) compared with the second quarter of 2016. Adjusted EBITDA margin was 39.2 percent, an increase of 170 basis points compared with the second quarter of 2016. Adjusted Diluted Earnings per Share was $0.47, an increase of 26 percent compared with the second quarter of 2016.
“TransUnion delivered another strong quarter, highlighted by double-digit revenue, Adjusted EBITDA and Adjusted EPS growth while continuing to expand Adjusted EBITDA margin,” said Jim Peck, TransUnion's president and chief executive officer. “We continue to see broad-based, innovation-driven growth across the company, and we are making strategic investments for future growth. Given our performance in the first half, we feel confident about the rest of the year and our long-term outlook.”
“We also announced today that, effective August 18, Al Hamood, our CFO for nearly 10 years, is leaving to pursue other opportunities. Al has done an outstanding job in his tenure at TransUnion and has been a great friend and partner to me as we’ve transformed the company. I want to thank Al for all of his contributions and wish him well in his new endeavor,” Peck said.
“We’re very excited to announce that Todd Cello has been named our new CFO. Todd has been as VP, Strategic and Financial Planning through our changes in ownership. Todd has distinguished himself as a strong, thoughtful leader with highly valuable operating and corporate experience. Through our succession planning process we have been preparing Todd for this role. I have no doubt he will continue to do an excellent job,” Peck concluded.
Second Quarter 2017 Segment Results
U.S. Information Services (USIS)
USIS revenue was $298 million, an increase of 16 percent compared with the second quarter of 2016.
Online Data Services revenue was $191 million, an increase of 13 percent over the prior year.
Marketing Services revenue was $46 million, an increase of 23 percent over the prior year.
Decision Services revenue was $61 million, an increase of 20 percent over the prior year.
Operating income was $84 million, an increase of 102 percent compared with the second quarter of 2016. Adjusted Operating Income was $110 million, an increase of 26 percent compared with the second quarter of 2016.
The following information was filed by Transunion (TRU) on Tuesday, July 25, 2017 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.