Equifax (EFX) Tops Q1 EPS by 11c; Withdraws Guidance

Equifax (NYSE: EFX) reported Q1 EPS of $1.40, $0.11 better than the analyst estimate of $1.29. Revenue for the quarter came in at $957.9 million versus the consensus estimate of $911.81 million.

"During these unprecedented times, Equifax is focused on the health and safety of our employees while delivering for our customers and consumers. Despite this global challenge, we are continuing to invest in our three-year $1.25 billion EFX 2020 cloud technology, data, and security transformation and rolling out new products to strengthen the company for the future," said Mark W. Begor, Equifax Chief Executive Officer. "Even with the impact of the pandemic in March, Equifax delivered its strongest quarterly revenue performance since the 2017 cyber event with broad based revenue and margin growth. The strong First Quarter performance follows our momentum in the second half of 2019 and positions us well to weather the economic impacts of Coronavirus. Our team is focused on providing enhanced solutions from our differentiated data assets to help our customers manage through these challenging times."

GUIDANCE:

Withdrawal of Full Year Guidance

Due to the rapidly evolving environment and continued uncertainties resulting from the economic impact globally of the coronavirus disease ("COVID-19"), we are not providing guidance for the second quarter of 2020, and are withdrawing our previously announced guidance for full year 2020, which was issued on February 12, 2020. On our earnings conference call on April 21, 2020, we will discuss the impact of the current economic situation on Equifax including providing perspective on revenue trends in April, and the impact on Equifax financial results should these trends continue for the remainder of the second quarter of 2020. We will also discuss actions we are taking to manage in this environment.

For earnings history and earnings-related data on Equifax (EFX) click here.

You May Also Be Interested In

• Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
• AeroVironment restates quarterly financials, citing $89M goodwill error
• AXT appoints Tracy Liu to its board of directors