Equifax Inc Stock Price, News & Analysis

Equifax (NYSE: EFX) is set to host a virtual Investor Day on November 10, 2021, from 8:30 a.m. to 12:00 p.m. ET. The event will cover the company's EFX2023 strategy, detailing long-term financial frameworks, capital allocation, and the impact of the Equifax Cloud on innovation and growth. Key executives, including CEO Mark W. Begor and CFO John Gamble, will present. Interested attendees can register using passcode EFX_ID2021, and the replay will be available from November 11 at investor.equifax.com.

Equifax reported record third quarter revenue of $1.22 billion, reflecting a 14% increase year-over-year. Workforce Solutions revenue surged 35%, marking the tenth consecutive quarter of double-digit growth. Despite revenue gains, net income fell 10% to $205.4 million, and diluted EPS decreased 11% to $1.66. The company has raised its guidance for full-year revenue to a range of $4.901 billion to $4.921 billion. Strategic acquisitions are positioned to enhance future growth and drive innovation.

Equifax (NYSE: EFX) announced new expedited options for manual verifications of employment, offering Priority Next Day™ and Priority Two Day™ services. These options aim to improve turnaround times for verifiers, setting a standard in the industry for rapid employment verification. Priority Next Day VOE ensures requests are fulfilled by 11:59 p.m. CT the next business day, while Priority Two Day VOE completes requests by 11:59 p.m. CT two business days later. Equifax processes over 500,000 verifications daily, enhancing its service efficiency.

Equifax (NYSE: EFX) has launched its Digital Identity as a Service solution to enhance fraud detection for businesses. This service will be integrated into Bonifii's MemberPass, providing credit unions with improved identity verification capabilities. By utilizing cloud technology, Equifax enables secure and scalable real-time insights to combat sophisticated fraud attempts. The service allows users greater control over their personal information, improving user experience and reducing identity fraud risks. This partnership marks Bonifii as the first adopter of the new service.

Equifax (NYSE: EFX) will announce its third-quarter financial results for the period ending September 30, 2021, on October 20, after market close. A conference call hosted by senior management is scheduled for October 21 at 8:30 AM ET to discuss the quarterly results, with presentation materials to be available on their investor website on the same day at 6:30 AM ET. An audio replay of the call will be accessible starting October 22. Equifax operates globally, providing data, analytics, and technology to support critical decision-making across various sectors.

Equifax (NYSE: EFX) announced a new integration of The Work Number® with isolved™ to facilitate automated employment and income verification. This integration enhances the isolved People Cloud platform, improving the speed and accuracy of data transfer for credentialed verifiers. It aims to streamline processes for employers and provide employees with immediate verification, enhancing their privacy and reducing human error. This service will be available at no additional cost to isolved customers, promoting efficiency for HR departments and supporting employees during critical life milestones.

Equifax has completed its acquisition of Appriss Insights, enhancing its Workforce Solutions unit with advanced risk intelligence data. The transaction, announced on August 10, 2021, expands Equifax's verification capabilities and positions the company to penetrate the $5 billion U.S. talent acquisition market and the $2 billion U.S. government social services market. This strategic move is expected to support future growth by broadening data offerings and strengthening relationships with employers and government agencies.

Equifax (NYSE: EFX) announced a partnership with the National Association of Minority Mortgage Brokers of America (NAMMBA) on Sept. 29, 2021, aimed at addressing housing needs in underserved communities. This collaboration will help expand access to credit and enhance financial literacy, particularly for diverse borrower groups, as NAMMBA estimates 75% of first-time homebuyers over the next five years will be women, millennials, or people of color. Equifax aims to utilize its data services to support these initiatives and promote financial inclusion.