Shares of Equifax (NYSE:) fell more than 5% in after-hours trading Wednesday after the credit reporting agency’s FQ2 and full-year guidance fell short of analysts’ expectations.
For the fiscal Q1 2024, Equifax posted earnings per share (EPS) at $1.50, surpassing the consensus estimates of $1.44. Revenue for the quarter slightly missed expectations, totaling $1.39 billion compared to the consensus estimate of $1.4 billion.
For the fiscal Q2, the company forecasts its adjusted EPS for the second quarter to range between $1.65 and $1.75, falling below the analyst estimate of $1.86. Revenue is estimated to range between $1.41 billion and $1.43 billion, also below the anticipated $1.44 billion.
For the full fiscal 2024, Equifax said it expects an adjusted EPS between $7.20 and $7.50, compared to analysts’ expectations of $7.64. The company also maintained its revenue forecast, predicting it will range from $5.67 billion to $5.77 billion, while analysts looked for $5.8 billion.
“We have strong momentum in 2024 and are confident in the future of the New Equifax as we deliver strong non-mortgage revenue growth, move towards completion of our Cloud transformation, leverage our new Cloud capabilities to accelerate new product roll-outs that ‘Only Equifax’ can provide, and invest in new products, data, analytics, and AI capabilities, which are expected to drive growth in 2024 and beyond,” said Mark W. Begor, Equifax’s CEO.
