REIT - Equifax Misses Q3 Street View Reduces FY23 Outlook Again On Sluggish US Mortgage Market | Benzinga
Equifax Inc (NYSE: EFX) reported Q3 FY23 revenues of $1.319 billion, up 6% Y/Y and 6.5% Y/Y in constant currencies, missing the consensus of $1.332 billion.
Workforce Solutions revenues rose 3% Y/Y to $577.2 million, reflecting the challenging mortgage market.
U.S. Information Solution revenues rose 7% Y/Y to $426.0 million, with B2B non-mortgage revenue growth of 8% and strong B2B Online non-mortgage revenue growth of 10%.
The company witnessed solid new product innovation in Equifax Cloud business, with Vitality Index of 15%.
Adjusted EBITDA margin contracted to 33.1% from 32.5% a year ago.
Adjusted EPS rose 2% Y/Y to $1.76, below the consensus of $1.78.
Outlook: EFX expects Q4 revenue ...