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Equifax Reports First Quarter 2013 Results

Stocks in this article: EFX

Workforce Solutions

Total revenue was $123.7 million in the first quarter of 2013, a 14 percent increase over the first quarter of 2012. 

  • Verification Services revenue was $68.8 million, up 21 percent when compared to a year ago.
  • Employer Services revenue was $54.9 million, up 6 percent when compared to a year ago.

Operating margin for Workforce Solutions was 30.3 percent in the first quarter of 2013 compared to 24.1 percent in the first quarter of 2012. 

North America Personal Solutions

Revenue was $51.1 million, a 14 percent increase from the first quarter of 2012. Operating margin was 28.4 percent compared to 25.1 percent in the first quarter of 2012. Operating margin benefitted from lower credit file and monitoring expenses following the acquisition of CSC Credit Services in December 2012.

North America Commercial Solutions

Revenue was $22.9 million, up 10 percent in U.S. dollars and local currency compared to the first quarter of 2012. Operating margin was 21.3 percent compared to 16.8 percent in the first quarter of 2012.

Second Quarter 2013 Outlook

Based on the current level of domestic and international business activity and current foreign exchange rates as well as continued strength in mortgage activity, consolidated revenue for the second quarter of 2013 is expected to be up 12 to 14 percent from the year-ago quarter. Second quarter 2013 adjusted EPS attributable to Equifax, which excludes the impact of acquisition-related amortization expense, is expected to be between $0.88 and $0.91, up 23 to 27 percent from the year-ago quarter. 

About Equifax

Equifax is a global leader in consumer, commercial and workforce information solutions, that provides businesses of all sizes and consumers with insight and information they can trust. Equifax organizes and assimilates data on more than 500 million consumers and 81 million businesses worldwide, and uses advanced analytics and proprietary technology to create and deliver customized insights that enrich both the performance of businesses and the lives of consumers.

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