Equifax Stock Surges After Strong Q3 Earnings Report
Equifax (EFX) stock surged over 11% in early trading after reporting better-than-expected third-quarter earnings. The company earned $2.26 per share, adjusted for one-time items, on revenue of $1.69 billion — exceeding analyst forecasts and matching sales expectations. Revenue grew by 10%, driven primarily by a 15% increase in the U.S. mortgage segment and a 20% rise in talent solutions (employee background checks) business. Despite strong performance, Equifax revised its full-year revenue guidance downward due to high interest rates dampening mortgage demand. The company now expects $6.66 billion in annual revenue — still representing nearly 10% growth year-over-year. Adjusted earnings per share are projected at around $8.50 for the year. Equifax's GAAP net income rose by 32%, and free cash flow has already reached $763 million this year, outpacing reported net income.
Tickers: $EFX