EFX - Why Professional Services Company Equifax Shares Are Surging Today | Benzinga

Equifax Inc. (NYSE:EFX) shares are surging today after the company reported better-than-expected second-quarter FY24 financial results.

Revenue grew 9% Y/Y to $1.43 billion, beating the consensus of $1.42 billion. Despite a 13% decline in USIS mortgage credit inquiries, U.S. mortgage revenue grew by 4% Y/Y in the second quarter.

In the second quarter, Workforce Solutions saw a 5% Y/Y increase in overall revenue, led by a 12% growth in non-mortgage revenue, particularly in Verification Services, where Government and Talent Solutions led with a 20% increase. However, mortgage revenue declined by 12% in the quarter.

Adjusted EBITDA margin declined to 32.0% from 32.7% a year ago. Adjusted EPS of $1.82 Full story available on Benzinga.com