Equifax Reports Q2 EPS Beat, Cuts 2023 Outlook On Challenging Mortgage Market
Portfolio Pulse from Lekha Gupta
Equifax Inc (NYSE:EFX) reported Q2 2023 revenues of $1.318 billion, flat Y/Y and up 1% Y/Y in constant currencies. The company's Workforce Solutions revenues declined 4% Y/Y to $582.8 million due to the challenging mortgage and hiring market. Adjusted EPS declined 18% Y/Y to $1.71, above the consensus of $1.67. For 2023, Equifax reduced the outlook for revenues to $5.270 billion to $5.330 billion and adjusted EPS to $6.85-$7.10. The company lowered guidance to reflect the expected impact of weaker-than-expected U.S. mortgage originations and lower mortgage revenue.

July 20, 2023 | 9:40 am
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Equifax reported Q2 2023 revenues of $1.318 billion, flat Y/Y and up 1% Y/Y in constant currencies. The company lowered its 2023 outlook due to the expected impact of weaker U.S. mortgage originations and lower mortgage revenue.
Equifax's Q2 2023 revenues were flat Y/Y and the company lowered its 2023 outlook due to the expected impact of weaker U.S. mortgage originations and lower mortgage revenue. This could negatively impact the company's stock price in the short term.
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IMPORTANCE 80
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