Equifax Inc
Q2 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +1.06%.
Did EFX Beat Earnings? Q2 2025 Results
Equifax posted a strong second quarter, beating Wall Street estimates on both the top and bottom lines as the credit data giant demonstrated resilience despite continued softness in U.S. mortgage and hiring markets. Adjusted diluted EPS came in at $2.00, clearing the $1.91 consensus estimate by 4.50%, while revenue rose 7.4% year-over-year to $1.54 billion, topping the $1.51 billion analyst expectation by 1.75% and exceeding the midpoint of the company's own April guidance by $27.00 million. The standout driver was mortgage-related demand holding up better than feared, with USIS mortgage revenue surging 20% and Verification Services mortgage revenue climbing 9% despite weak origination volumes. Workforce Solutions, the company's largest segment, grew 8% to $662.10 million, aided by double-digit gains in Government and Consumer Lending. Looking ahead, Equifax raised its full-year reported revenue guidance by $35.00 million and lifted adjusted EPS by $0.03, now guiding for fiscal 2025 revenue of $5.97 billion to $6.04 billion and adjusted EPS of $7.33 to $7.63, while maintaining constant-dollar growth expectations of approximately 6% at the midpoint given broader economic uncertainty.
- Strong 14% U.S. Mortgage revenue growth despite declining mortgage market
- Verification Services Non-Mortgage revenue growth of 10% driven by Government and Consumer Lending
- USIS Mortgage revenue growth of 20%
- USIS Non-Mortgage revenue growth of over 4% led by Auto strength
- International local currency growth of 6% led by Latin America and Europe
- New Product Innovation Vitality Index of 14%
“Equifax delivered strong second quarter revenue of $1.537 billion, up 8% on a local currency basis and 7% on a reported basis that was $27 million above the mid-point of our April guidance. This was led by strong 14% U.S. Mortgage revenue growth and continued momentum in New Product Innovation with a Vitality Index of 14% despite headwinds from the U.S. Mortgage and Hiring markets. Workforce Solutions delivered 8% revenue growth, driven by Verification Services revenue growth of 10% led by Non-Mortgage revenue growth of 10% from strong double digit growth in the Government and Consumer Lending businesses. Mortgage revenue grew 9% despite continued weak Mortgage markets. USIS delivered solid revenue growth of 9%, above their 6 to 8% Long Term Financial Framework. USIS revenue growth was led by very strong Mortgage revenue growth of 20% and Non-Mortgage revenue growth of over 4%, led by strength in Auto. International delivered 6% local currency revenue growth led by Latin America and Europe. We were pleased with the strong Equifax results in a challenging and uncertain market environment.”
Equifax CEO, on the earnings call
Forward Guidance & Outlook
Equifax is maintaining its full-year 2025 constant-dollar guidance amid economic and interest rate uncertainties, with local currency revenue growth expected at approximately 6% at the midpoint. Full-year reported revenue guidance was increased by $35 million and adjusted EPS by $0.03 per share for foreign exchange impacts. FY 2025 reported revenue is guided at $5.970 billion to $6.040 billion, with reported revenue growth of 5.1% to 6.3% and local currency growth of 5.4% to 6.6%. FY 2025 adjusted EPS is guided at $7.33 to $7.63. Q3 2025 reported revenue is guided at $1.505 billion to $1.535 billion with adjusted EPS of $1.87 to $1.97. U.S. mortgage market credit inquiries are assumed to decline over 12% YoY in Q3 2025 and over 11% for full-year 2025. The company expects to deliver over $900 million of free cash flow in 2025 with a cash conversion ratio above 95%.
EFX YoY Financials
EFX Revenue by Segment
EFX Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.