Equifax Inc Stock Price, News & Analysis

Workday (NASDAQ: WDAY) and Equifax (NYSE: EFX) have announced a strategic partnership to modernize the employment and income verification process. The collaboration will integrate Workday Payroll with Equifax's The Work Number® service, enabling faster and more efficient verifications for Workday customers' employees. This partnership aims to streamline operations, reduce costs, and improve the employee experience by simplifying the process for securing loans and government benefits.

The new Employment Verification Connector For Equifax is expected to be available to all U.S. Payroll customers in 2025, provided at no additional cost. This integration will allow for seamless, instant verifications, supporting employees in important life events such as buying their first home or applying for auto loans.

Equifax (NYSE: EFX) has announced that its Board of Directors has declared a quarterly dividend of $0.39 per share. The dividend will be payable on September 13, 2024, to shareholders of record as of the close of business on September 3, 2024. This declaration continues Equifax's impressive track record of paying cash dividends for over 100 consecutive years. The consistency in dividend payments demonstrates Equifax's commitment to providing regular returns to its shareholders and reflects the company's financial stability and long-term value creation.

Cormetech, a leading manufacturer of SCR Catalyst and Carbon Capture Adsorbers, has announced a significant leadership change. Patricia Martinez will be appointed as the new President & CEO, effective August 19th, 2024. She brings over 25 years of industry experience, with a focus on low-carbon energy solutions. Mike Mattes, the current President & CEO, will transition to the role of Chairman of the Board.

Martinez's appointment is expected to drive Cormetech's growth in the emissions control industry, particularly in areas such as Electrification, Carbon Capture Utilization and Sequestration (CCUS), Bio Energy, and Hydrogen. The company aims to leverage her expertise to expand its product lines and solidify its position as an industry leader.

Beazer Homes (NYSE: BZH) announced financial results for Q3 FY2024. Despite challenging conditions, the company reported Adjusted EBITDA of $53.5 million and EPS of $0.88. The company repurchased 450,000 shares.

Q3 highlights compared to Q3 FY2023:

• Net income: $27.2 million, down 38.0%
• Homebuilding revenue: $589.6 million, up 3.3%
• Home closings: 1,167 homes, up 4.5%
• Gross margin: 20.3%, down 310 basis points
• Orders: 1,070, down 10.8%
• Backlog value: $1.05 billion, up 3.6%
• SG&A: 11.9%, up 40 basis points
• Land spending: $201.1 million, up 52.7%
• Liquidity: $328.2 million
• Net debt to net capitalization: 45.8%, up from 40.3%

The company continues to advance ESG initiatives, with over 90% of Q3 starts meeting Zero Energy Ready standards. Michael Dunn was appointed as General Counsel, and John J. Kelley joined the Board of Directors.

Equifax (NYSE: EFX) has announced its participation in several investor conferences during August 2024. Trevor Burns, Senior Vice President of Corporate Investor Relations, will represent the company at four key events:

• Oppenheimer 27th Annual Technology, Internet & Communications Conference on August 14
• Needham Virtual FinTech & Digital Transformation Conference on August 15
• Wells Fargo 9th Annual FinTech, Information & Business Services Forum on August 21
• Deutsche Bank's 2024 Technology Conference on August 28

These conferences provide Equifax with opportunities to engage with investors and showcase its position in the financial technology and information services sectors.

Equifax (NYSE: EFX) has introduced All Employers Within 90 Days™, a new mortgage verification solution powered by The Work Number®. This offering allows credentialed lenders to verify a borrower's income and employment information from the previous 90 days, addressing situations where extended employment records are unnecessary. Equifax has also modified its existing 12-month and 24-month verification offerings to streamline billing processes.

These solutions aim to provide lenders with flexibility, faster closing times, and enhanced loan processes. The company emphasizes its commitment to offering tailored verification solutions at various price points, backed by industry-leading security capabilities. Equifax's The Work Number database serves as the leading commercial source of consolidated employment information in the United States, enabling instant verification for credentialed verifiers with permissible purposes.

Equifax (NYSE: EFX) reported strong second quarter 2024 results with revenue of $1.430 billion, up 9% year-over-year. The company saw 13% non-mortgage local currency revenue growth, driven by a 20% increase in Workforce Solutions non-mortgage Verification Services. Despite a 13% decline in USIS mortgage credit inquiries, U.S. mortgage revenue grew 4%. International revenue increased 17% on a reported basis and 28% on a local currency basis.

Equifax maintained its full-year 2024 guidance, expecting revenue of $5.720 billion (up 8.6%) and Adjusted EPS of $7.35. The company's New Product Vitality Index reached 12.5%, with 89% of new models and scores built using AI and ML. CEO Mark W. Begor expressed confidence in Equifax's long-term 8-12% revenue growth framework, driven by non-mortgage revenue growth and cloud transformation completion.

Equifax (NYSE: EFX) is set to release its financial results for Q2 2024 on July 17, after the market closes. The announcement will cover the performance for the quarter ending June 30, 2024.

A conference call hosted by senior management will be held on July 18 at 8:30 a.m. ET to discuss the financial and business results. Presentation materials will be available on the Equifax investor website at 6:30 a.m. ET on the same day.

The conference call can be accessed by dialing (877) 559-1190 in the US/Canada or (201) 389-0916 internationally. Participants should register 5-10 minutes before the call starts. An audio replay will be available on the investor website starting July 19.

Equifax has launched a new education verification tool called Talent Report™ High School, aimed at helping employers and background screeners verify high school diploma data efficiently. This solution, integrated with the National Student Clearinghouse®, provides instant access to high school diploma information, streamlining the pre-hire process. According to the Bureau of Labor Statistics, industries requiring high school diplomas are expected to have the most job openings over the next decade. This tool seeks to expedite hiring, improve employee retention, and reduce the manual efforts involved in diploma verification. Talent Report High School is powered by the TotalVerify™ data hub and the Equifax Cloud™, offering 24/7 access to more than 9 million diplomas from over 4,700 high schools. The solution is available immediately.