Equifax Inc Stock Price, News & Analysis

Equifax (NYSE: EFX) has introduced expanded U.S. mortgage credit reports incorporating telecommunications, pay TV, and utility data to enhance financial inclusion. This initiative aims to support over 191 million consumers, particularly those with traditional credit files but lacking comprehensive financial insights. Research indicates that including these attributes could boost credit scores for 30% of U.S. consumers, helping many subprime borrowers improve their scores by an average of 30 points. The additional insights are provided at no extra cost to lenders, facilitating a more straightforward underwriting process and promoting greater access to homeownership.

Narrative partners with Equifax to streamline access to specialized financial audience data for automotive businesses. This collaboration enables marketing teams to easily create customized segments from Equifax's datasets. Key offerings include Auto Segments and various digital economic indicators. Lena Bourgeois, SVP at Equifax, emphasized the need for impactful insights in an evolving automotive market. Users can efficiently send tailored data to marketing platforms like The Trade Desk, enhancing targeted marketing efforts. This partnership aims to improve customer experience and drive marketing ROI for businesses in the automotive sector.

Equifax has announced a definitive agreement to acquire Boa Vista Serviços, Brazil's second-largest credit bureau, for R$8.00 per share, totaling approximately USD$596 million. This strategic acquisition aims to expand Equifax's presence in the rapidly growing Brazilian market and offer advanced data and analytical technology to Boa Vista's clients, enhancing financial inclusion for the 34 million unbanked Brazilians. The agreement, which has received board approval, includes various payment options for shareholders and represents significant premiums over previous stock values. Completion of the transaction is expected in Q2 2023, pending shareholder approval.

Equifax reported its financial results for Q4 and full year 2022, with total revenue of $1.198 billion in Q4, down 4% year-over-year. For the full year, revenues reached $5.122 billion, a 4% increase. The mortgage revenue significantly declined by 41% in Q4, impacting overall performance. However, non-mortgage revenue saw growth, with Workforce Solutions and USIS growing by 17% and 10%, respectively. The company forecasts 2023 revenue between $5.275 billion and $5.375 billion, anticipating continued challenges in the mortgage sector. Adjusted EPS for Q4 stood at $1.52, down 18% from last year.

Equifax (NYSE: EFX) appointed Karen Fichuk to its board of directors, succeeding Robert W. Selander, who will retire in May 2023. Fichuk, formerly CEO of Randstad North America and an executive at Randstad N.V., brings over 30 years of leadership experience in data and analytics. CEO Mark W. Begor emphasized that her expertise will enhance Equifax's strategic execution and cloud transformation initiatives. The board now includes eleven directors, with ten being independent. Fichuk's addition is part of a succession planning effort, indicating a focus on strengthening governance and oversight.

On February 2, 2023, Equifax (NYSE: EFX) announced a quarterly dividend of $0.39 per share, payable on March 15, 2023. Shareholders of record as of February 22, 2023 will receive this dividend. Equifax has a notable history, paying cash dividends for over 100 consecutive years, reflecting its commitment to returning value to shareholders.

Equifax (NYSE: EFX) announced its acquisition of the Food Industry Credit Bureau from Profile Credit on February 1, 2023. This strategic acquisition enhances Equifax's commercial credit insights for the Canadian food sector, offering detailed data on over 90% of the industry. The Food Industry Credit Bureau partners with over 1,000 companies, providing credit information for 200,000 businesses, which supports the agri-food sector that employs 2.1 million people in Canada. CEO Mark W. Begor emphasized that this acquisition aligns with Equifax's EFX2025 growth strategy, aimed at expanding capabilities and leveraging cloud technology for integration.

Equifax (NYSE: EFX) will announce its fourth quarter financial results for the period ending December 31, 2022 on February 8, after market close. A conference call to discuss the results will take place on February 9 at 8:30 a.m. ET. Interested parties can access the call via telephone or through a webcast available on their investor relations site, with related presentation materials being published on the same day. Audio replay will be accessible from February 10. Equifax emphasizes its role in providing data-driven insights across various sectors globally.

Equifax (NYSE: EFX) has partnered with Mindbody to enhance the onboarding process for wellness-focused businesses through its I-9 Management services. This collaboration aims to streamline Form I-9 completion and improve employee verifications and audit logs, creating a more automated and mobile-friendly experience. The I-9 Management solution, which is already trusted by numerous employers, will be available through the Mindbody Partner Store, enabling faster onboarding for new hires across various wellness sectors.