Equifax (NYSE:) stock fell more than 5% in after-hours trading on Wednesday after the credit bureau's second-quarter and full-year outlook fell short of analysts' expectations.
Equifax's first quarter 2024 earnings per share (EPS) was $1.50, beating the consensus estimate of $1.44. Revenue for the quarter was slightly lower than expected, totaling $1.39 billion, compared to the consensus estimate of $1.4 billion.
For its fiscal second quarter, the company expects second-quarter adjusted EPS to be in the range of $1.65 to $1.75, below analyst expectations of $1.86. Revenue is expected to be in the range of $1.41 billion to $1.43 billion, also below expectations of $1.44 billion.
Equifax said it expects full-year 2024 adjusted EPS to be between $7.20 and $7.50, compared with analyst expectations of $7.64. The company also kept its revenue forecast unchanged, expecting sales to be in the range of $5.67 billion to $5.77 billion, compared with analysts who expected $5.8 billion.
“We have strong momentum in 2024, delivering solid growth in non-mortgage revenue, moving towards completing our cloud transformation and leveraging new cloud capabilities to accelerate the rollout of new products. , we are confident in the future of Equifax and the ability to deliver and invest in new products, data, analytics and AI capabilities that are expected to drive growth in 2024 and beyond. said Mark W. Begor, CEO.
