Why Information & Insights Company TransUnion's Shares Are Tumbling Today
Portfolio Pulse from Lekha Gupta
TransUnion's shares fell by around 25% after the company reported worse-than-expected Q3 FY23 financial results, issued Q4 adjusted EPS and revenue guidance below estimates, and lowered FY23 guidance. The company reported revenue of $968.7 million, missing the consensus of $982.3 million. Adjusted EPS of $0.91 missed the consensus of $0.94. The company also identified a triggering event requiring an interim impairment test for its U.K. reporting unit, which led to a goodwill impairment of $495 million.
October 24, 2023 | 3:37 pm
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TransUnion's shares fell significantly due to worse-than-expected Q3 FY23 results, lowered FY23 guidance, and a goodwill impairment of $495 million.
TransUnion's shares fell due to worse-than-expected Q3 FY23 results and lowered FY23 guidance. The company also reported a goodwill impairment of $495 million, which is a significant financial event that can negatively impact the company's balance sheet and investor confidence.
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