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) announced an exclusive integration with the National Student Clearinghouse to enhance its pre-employment verification services. The new Talent Report Education will provide employers with a streamlined solution for accessing postsecondary degree information from 94% of U.S. four-year colleges through a single inquiry. This initiative responds to increased employer demand for comprehensive candidate data and aims to facilitate quicker, more informed hiring decisions.
Equifax (NYSE: EFX) has partnered with Snowflake to offer its differentiated data through the Snowflake Data Marketplace. This allows data scientists and analysts to access live, ready-to-query datasets, including consumer credit trends and commercial marketing data, enhancing decision-making capabilities. The collaboration leverages Equifax Cloud infrastructure, ensuring rigorous data security and compliance. Notable offerings include U.S. Consumer Credit Trends and IXI economic data, representing over $20 trillion in consumer assets.
Equifax (NYSE: EFX) is now offering its differentiated data assets through AWS Data Exchange, enhancing access to consumer and loan-level credit data. This initiative is part of Equifax's Cloud strategy, facilitating improved decision intelligence for business customers. The datasets include U.S. Consumer Credit Trends and B2bConnect commercial marketing data, among others. Equifax has invested $1.5 billion in its infrastructure to support these data offerings. The integration underscores Equifax's commitment to data security, compliance, and enhancing customer growth.
Equifax has signed a definitive agreement to acquire Appriss Insights for $1.825 billion, bringing significant data assets to enhance its Workforce Solutions verification capabilities. The acquisition is expected to generate about $150 million in revenue for Appriss Insights in 2021, marking a 30% increase from the previous year. Additionally, Equifax will benefit from a $360 million tax benefit at the time of purchase. This strategic move targets expanding into the $5 billion U.S. talent acquisition and $2 billion U.S. government social services markets, enabling better risk management and fraud prevention.
Equifax (EFX) has signed a definitive agreement to acquire Health e(fx), a provider of Affordable Care Act (ACA) services. The acquisition aims to enhance Equifax's Workforce Solutions by integrating Health e(fx)'s technology platform, which supports ACA compliance and workforce analytics. This strategic move is expected to strengthen Equifax's offerings and improve employer services. The transaction, advised by Hennepin Partners, is subject to customary closing conditions and is anticipated to finalize in Q3 2021.
Equifax (NYSE: EFX) announced the acquisition of Teletrack® from CoreLogic, a leader in alternative credit data. This deal significantly enhances Equifax's DataX business, creating a premier specialty consumer reporting agency with data on over 80 million thin-file and underbanked consumers. The integration aims to provide lenders with broader access to alternative data, thereby opening new financial opportunities for consumers. The transaction is expected to close in the second half of 2021, pending regulatory approval.
Equifax reported record revenue of $1.23 billion for Q2 2021, marking a 26% increase year-over-year. This is the sixth consecutive quarter of double-digit growth, with a net income of $215.1 million, up 115%. Key growth segments include Workforce Solutions, up 40%, and International, up 39%. The company raised its full-year revenue guidance to a range of $4.76 to $4.80 billion. Adjusted EPS increased 21% year-over-year, reaching $1.98.
Equifax (NYSE: EFX) will release its financial results for the second quarter of 2021 on July 21, after market close. A conference call will be held on July 22 at 8:30 am ET, where management will discuss the results. Investors can access presentation materials on investor.equifax.com. An audio replay will be available from July 23. Equifax, based in Atlanta, supports decision-making through its data analytics and technology services across 24 countries.
Equifax (NYSE: EFX) has launched the Insight Score for Credit Cards, enabling credit card issuers to expand access to credit by incorporating alternative data from over 430 million utility and telecom accounts. This new scoring method can potentially elevate 5.5 million U.S. consumers from unscorable to prime credit offers, enhancing financial inclusion. Additionally, it allows lenders to approve 5% to 7% more applicants, mitigating risk with Equifax's NeuroDecision Technology. This initiative comes at a critical time when many Americans are seeking credit.
Equifax (NYSE: EFX) is launching the Equifax Accelerate, a developer challenge and accelerator program, to enhance credit access using cloud technology. This initiative, part of a $1.5 billion cloud transformation, invites early-stage developers to create innovative solutions with Equifax APIs. Applications are open until July 29, 2021. The top 50 entries will participate in an August 2021 Design Sprint Challenge, with opportunities for mentorship and access to a custom Product Studio program. This program aims to drive financial inclusion through tech-driven solutions.