Equifax Inc Stock Price, News & Analysis

Equifax and Bridgeforce Data Solutions announced a partnership aimed at enhancing data accuracy for data furnishers. This collaboration will provide access to Bridgeforce's Data Quality Scanner® and consulting services, helping furnishers manage compliance and improve consumer reporting. The partnership follows a successful case study where a U.S. bank reported a 70% reduction in data discrepancies after implementing the DQS. The initiative aims to mitigate risks, lower dispute rates, and support accurate data reporting across the credit ecosystem.

Equifax (NYSE: EFX) has announced a partnership with Truepic to enhance fraud prevention solutions for insurance customers. This collaboration introduces Truepic Vision, a digital inspection platform aimed at streamlining property inspections and mitigating application fraud. The partnership aligns with the insurance industry's shift toward digital solutions, accelerated by the pandemic, as 80% of CEOs highlighted the need for improved digital customer experiences. Truepic’s technology provides real-time verification of media, enhancing trust in underwriting decisions and expediting claims processes.

Equifax (NYSE: EFX) has launched a Self-Employed Verification of Employment (VOE) enhancement aimed at assisting lenders in qualifying self-employed individuals lacking conventional payroll records. This new offering validates a self-employed person's business and includes details provided by their tax preparer. The service builds on Equifax's existing manual verifications and complements their automated income verification solutions. With 16 million self-employed individuals in the U.S., this enhancement aims to simplify verification processes, thereby supporting better lending decisions.

Equifax (NYSE: EFX) reported record fourth-quarter 2021 revenue of $1.3 billion, a 12% increase year-over-year, with Workforce Solutions revenue up 29%. Full-year revenue reached $4.9 billion, marking a 19% increase. Diluted EPS for Q4 was $0.99, up from $0.61 in Q4 2020. The company anticipates 2022 revenue guidance of $5.25 to $5.35 billion, despite a projected 21.5% decline in the U.S. mortgage market. Adjusted EPS for 2021 was $7.64, up 10% from 2020. Equifax is optimistic about future growth, driven by new product innovation and acquisitions.

Equifax (NYSE: EFX) has completed its acquisition of Efficient Hire, a cloud-based provider of recruiting and HR management solutions, originally announced on January 31, 2022. This acquisition supports Equifax's strategy to strengthen its Workforce Solutions business unit and diversify growth. Efficient Hire focuses on hourly employers in sectors like hospitality and staffing, providing crucial HR management tools. The acquisition is not expected to significantly impact Equifax's 2022 financial results, but it aims to enhance service delivery by integrating Efficient Hire's solutions and capabilities into Equifax's existing offerings.

Equifax has declared a quarterly dividend of $0.39 per share, set for payment on March 15, 2022. This dividend is payable to shareholders on record by the close of business on February 22, 2022. With this announcement, Equifax continues to uphold a strong tradition, having consistently paid cash dividends for over 100 consecutive years. This move reaffirms the company's commitment to returning value to shareholders while strengthening its position in the market.

Equifax (NYSE: EFX) announced a definitive agreement to acquire Efficient Hire, enhancing its Workforce Solutions division. This acquisition aims to provide more comprehensive services in a competitive hiring landscape. Efficient Hire specializes in cloud recruiting, onboarding, and HR management for hourly employers, particularly in industries like hospitality and staffing. The deal is expected to close in February 2022 and will not materially impact Equifax's 2022 financial results. The acquisition reflects Equifax's strategy to diversify and strengthen its service offerings in the HR and recruitment domain.

Equifax (NYSE: EFX) will release its fourth quarter 2021 financial results on February 9, 2022, after market close. A conference call is scheduled for February 10 at 8:30 a.m. ET, where senior management will discuss these results. Presentation materials will be available on the investor website before the call. Equifax, a global data and analytics company, plays a crucial role in economic decision-making, operating in 24 countries and employing over 13,000 people.

Equifax (NYSE: EFX) has launched an enhanced instant employment and income verification service via The Work Number® utilizing the Encompass Partner Connect API platform from ICE Mortgage Technology (NYSE: ICE). This integration allows loan officers to access customizable verification solutions seamlessly, improving efficiency in mortgage applications. The Work Number database provides lenders access to over 500 million employee records, aiding in quicker loan origination. This collaboration aims to streamline the mortgage process, benefiting both lenders and prospective homebuyers.