Equifax profit: EFX stock hits Q1 beat

<p>Equifax (NYSE: EFX) revenues for the first quarter of 2020 have EFX stocks on Monday afternoon. This comes after reporting adjusted earnings per share (EPS) of $ 1.40, beating the Wall Street estimate of $ 1.29. The credit reporting agency’s revenue of $ 957.9 million also exceeds analysts’ estimates of $ 911.81 million.

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The following are some additional highlights from the latest Equifax earnings report.

Adjusted earnings per share increased by 16.67% from $ 1.20 during the same period last year. Revenue for the quarter is 13.21% higher than $ 846.1 million in the first quarter of 2019. Operating profit of $ 135.9 million is a positive change compared to the previous year from an operating profit of $ 617.9 million. Equifax’s earnings report also includes a net profit of $ 114.5 million. This is much better than the company’s net loss of $ 554.4 million in the same period last year.

Mark Begor, CEO of Equifax, said this about the EFX share performance report:

“Even with the impact of the pandemic in March, Equifax delivered its strongest quarterly revenue result since the 2017 cyber incident with broad-based revenue and margin development. The strong result for the first quarter follows our pace during the second half of 2019 and places us well to cope with the economic effects of Coronavirus. ”

Equifax’s earnings report states that the company is withdrawing its guidance for 2020. Nor does it provide guidance for the second quarter of the year. It attributes this decision to the new coronavirus.

The EFX share rose slightly after hours on Monday.

At the time of writing, William White had no position in any of the above securities.

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