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Why Is Equifax Up 11.1% Since Last Earnings Report?
A month has gone by since the last earnings report for Equifax (NYSE: EFX). Shares have added about 11.1% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Equifax due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Equifax Beats on Q2 Earnings
Equifax reported impressive second-quarter 2024 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate.
EFX's adjusted earnings (excluding 51 cents from non-recurring items) were $1.82 per share, outpacing the Zacks Consensus Estimate by 5.8% and increasing by 6.4% on a year-over-year basis. Total revenues of $1.4 billion surpassed the consensus estimate by a slight margin and jumped 8.6% from the year-ago quarter.
Segmental Information
Revenues in the Workforce Solutions segment totaled $612.9 million, increasing 5% from the year-ago quarter and beating our expectation of $600.2 million. Within the segment, Verification Services' revenues of $515.9 million were up 9% year over year. Employer Services' revenues of $97 million declined 11% on a year-over-year basis.
USIS segment's revenues were $478.3 million, grew 7% from the year-ago quarter and missing our anticipation of $481.9 million. Within the segment, Online Information Solutions' ...