Welcome to our dedicated page for Equifax news (Ticker: EFX), a resource for investors and traders seeking the latest updates and insights on Equifax stock.
Equifax reports news on its work as a global data, analytics, and technology company serving financial institutions, companies, employers, and government agencies. Recurring updates cover consumer credit data, income and employment verification through The Work Number, portfolio analytics for lenders, and consumer financial health measures such as the Market Pulse Index.
Company announcements also address quarterly earnings, dividend declarations, investor conference participation, cybersecurity reporting, cloud technology, and EFX.AI capabilities. Product news often centers on combining credit, employment, income, and trended data to support lending decisions and customer lifecycle analytics.
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.
Equifax has announced the international expansion of its Verification Exchange services into Australia and the United Kingdom, following successful launches in Canada and India. This expansion is supported by a $1.5 billion investment in the Equifax Cloud, aimed at enhancing the verification process for employment and income. The automated service aims to reduce fraud and support compliance, streamlining lending decisions for consumers. Equifax plans to further expand these services into additional international markets.
On January 24, 2022, Equifax (NYSE: EFX), Experian (LON:EXPN), and TransUnion (NYSE:TRU) jointly announced an extension of their pandemic response service to provide consumers with free weekly credit reports through the end of 2022. This initiative aims to assist consumers in managing their financial health amid ongoing economic challenges. The CEOs of the agencies emphasized their commitment to supporting consumers in tracking their financial well-being during these uncertain times, with credit reports playing a critical role in financial decision-making.
The Big Three U.S. credit reporting agencies, Equifax (NYSE: EFX), TransUnion (NYSE: TRU), and Experian, are extending their offer of free weekly credit reports for consumers until the end of 2022. This initiative aims to assist individuals in navigating financial challenges posed by the ongoing COVID-19 pandemic. The joint statement from the CEOs emphasizes their commitment to helping consumers manage their credit and financial future amidst inflation and market uncertainty. Consumers can access these reports at www.annualcreditreport.com.
Equifax (NYSE: EFX) has partnered with Georgia Tech to enhance access to credit for underserved consumers. The collaboration will utilize Equifax's anonymized data to boost research at the Financial Services Innovation Lab, aiming to foster fintech entrepreneurship in Atlanta. Georgia Tech’s lab connects academic resources with the financial services industry, promoting innovative solutions to improve financial health. This partnership builds on previous support from Equifax for Georgia Tech’s doctoral research and projects since 2016.