Equifax Q1 revenue down 4% to $1.302B; EPS $0.91 vs $1.80 YoY; Boa Vista acquisition signed

EQUIFAX INC

2023-Q1 EPS reported $0.91 revenue$1,302,000,000

Revenue $1.302B, down 4% YoY (down 3% local currency); net income $112.4M (-49%); diluted EPS $0.91 (-49%).
Adjusted EPS $1.43 (-36%); adjusted EBITDA margin 29.2% vs 35.5% YoY.
Workforce Solutions revenue $596.3M (-8%) with Verification Services down 11%; USIS Online Info down 1%, Mortgage down 23%.
International constant currency revenue growth 9%; signed deal to acquire Boa Vista (Brazil's #2 credit bureau), close expected Q3 2023.
On track for $200M spending reductions in 2023 ($120M expense, $80M capital); non-mortgage constant currency revenue growth 10%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

EQUIFAX INC reported the quarter ended March 31, 2023 results: revenue $1,302.0 million, net income $112.4 million, EPS $0.91.

Period: the quarter ended March 31, 2023
Revenue: $1,302.0 million
Net income: $112.4 million
EPS: $0.91
Result: reported results

Exact text from the filing

The company reported revenue of $1,302.0 million in the first quarter of 2023, down 4 percent compared to the first quarter of 2022 on a reported basis and 3 percent on a local currency basis. Net income attributable to Equifax of $112.4 million was down 49 percent in the first quarter of 2023 compared to $221.8 million in the first quarter of 2022. Diluted EPS attributable to Equifax was $0.91 for the first quarter of 2023, down 49 percent compared to $1.80 in the first quarter of 2022.

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Source: SEC EDGAR

accession 0000033185-23-000019

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