Equifax Inc Stock Price, News & Analysis

Equifax (NYSE: EFX) has launched a new Offboarding Forms solution, designed to enhance forms management throughout the employee lifecycle. This first-to-market solution enables HR professionals to efficiently deliver state-mandated separation notices to employees, regardless of their work location. With over 71 million separations reported in the U.S. for the year ending April 30, 2022, the solution addresses legal requirements and streamlines the offboarding process. It is customizable, allowing employers to integrate their own forms while maintaining compliance with state regulations.

Equifax (NYSE: EFX) has appointed Harald Schneider as the new Chief Data & Analytics Officer, effective immediately. Schneider will lead global Data & Analytics initiatives and is tasked with enhancing Equifax's data innovation while capitalizing on the Equifax Cloud™. With over 20 years of experience in data leadership, including a role at Visa as Global Head of Data Products, Schneider is expected to significantly drive product innovation. CEO Mark W. Begor emphasized the importance of collaboration between teams to foster growth and innovation.

Kount, a subsidiary of Equifax (NYSE: EFX), is expanding its operations in the UK and entering markets in Australia, Argentina, Chile, and Peru. The company's digital identity trust and fraud prevention solutions aim to address the increasing demand for secure online transactions amidst rising e-commerce fraud, projected to exceed $200 billion by 2025. Kount's AI-driven capabilities leverage data from 32 billion digital interactions to enhance security and improve customer experiences globally. This expansion aligns with a significant growth forecast for global e-commerce, expected to surpass $5 trillion in 2022.

Equifax (NYSE: EFX) has enhanced its employee-driven product suite by expanding its State Forms solution, aimed at simplifying forms management for U.S. employers. This enhancement allows employers to meet various state requirements, including annual notices, through a bundled service integrating I-9 Management and Work Opportunity Tax Credits (WOTC). The solution supports remote and hybrid workforces, automating compliance processes and integrating with most human capital management systems. The State Forms solution is now available to employer customers.

Equifax (NYSE: EFX) announced a quarterly dividend of $0.39 per share, payable on June 15, 2022, to shareholders recorded by the close of business on May 25, 2022. This marks over 100 consecutive years of cash dividends paid by the company, indicating strong financial stability and commitment to returning value to shareholders. Equifax operates in 25 countries, leveraging data and technology for critical decision-making across various sectors.

Equifax and Paycor have announced an integration that makes The Work Number the exclusive provider of income and employment verifications for Paycor customers. This integration aims to streamline employment verification processes, allowing users to assist employees in critical situations, such as loan applications. The Work Number provides access to over 540 million employment records, enhancing operational efficiency for small businesses. Additionally, Paycor customers can leverage services for Employee Retention Credits worth up to $26,000 per employee.

The integration between Equifax and Paycor announced on May 4, 2022, will make The Work Number the exclusive provider for income and employment verifications for Paycor's clients. This development allows Paycor customers to enhance efficiency by reducing administrative tasks related to verifying employment for financial services. The Work Number boasts access to over 540 million records from 2.5 million employers, providing secure and instant verifications. Alongside this, Paycor clients can access services to help manage unemployment costs and maximize employee retention credits.

Equifax (NYSE: EFX) has partnered with Interos to enhance supply chain risk monitoring for businesses. The collaboration aims to address supply chain disruptions affecting 94% of Fortune 1000 companies, resulting in average losses of $184 million annually. By leveraging AI and extensive datasets, the partnership offers real-time insights to help businesses preemptively identify and manage risks across various factors, including finance and cybersecurity. The initiative is designed to boost operational resilience and facilitate better decision-making in a rapidly changing business environment.

Equifax (NYSE: EFX) reported record first-quarter revenue of $1.36 billion, marking a 12% increase year-over-year. This achievement corresponds to the ninth consecutive quarter of double-digit growth, with Workforce Solutions revenues soaring 33%. Despite these gains, the company revised its full-year guidance due to a projected 37.5% decline in U.S. mortgage market inquiries, impacting revenues by an estimated $100 million. Adjusted EPS guidance is adjusted to $8.15 per share.

CEO Mark W. Begor emphasized strategic acquisitions to further diversify Equifax's growth.