Welcome to our dedicated page for Equifax news (Ticker: EFX), a resource for investors and traders seeking the latest updates and insights on Equifax stock.
Equifax Inc. (NYSE: EFX) is a global data, analytics, and technology company whose news flow reflects its role in credit reporting, workforce solutions, and compliance services. As one of the major U.S. credit bureaus, Equifax regularly releases updates that matter to lenders, employers, and policymakers, as well as to investors following the EFX stock.
News about Equifax often highlights new data and analytics products, such as tools that use the Equifax Cloud™ and EFX.AI™ capabilities for risk assessment, fraud prevention, and personalized credit score planning. Recent announcements include the launch of Income Qualify, which delivers income and employment insights from The Work Number® to mortgage lenders earlier in the lending process, and the introduction of Optimal Path™, an interactive score planner integrated into platforms like Kikoff.
Equifax also issues releases on workforce and employer services, including unemployment claims solutions like the Unemployment Claims Power of Attorney Manager and verification enhancements driven by acquisitions such as Vault Verify. Regulatory and risk-related news includes new Anti-Money Laundering (AML) Compliance Solutions that use AI to screen and monitor customers against sanctions and high-risk lists.
Investors tracking EFX can find announcements on quarterly dividends, participation in investor conferences, and periodic Market Pulse reports that summarize U.S. consumer credit trends using Equifax data. This news page aggregates these product launches, market insights, capital markets events, and corporate updates in one place, providing a focused view of how Equifax’s data, analytics, and cloud technology are being applied across credit, employment, and compliance use cases.
Equifax (NYSE: EFX) has launched a Self-Employed Verification of Employment (VOE) enhancement aimed at assisting lenders in qualifying self-employed individuals lacking conventional payroll records. This new offering validates a self-employed person's business and includes details provided by their tax preparer. The service builds on Equifax's existing manual verifications and complements their automated income verification solutions. With 16 million self-employed individuals in the U.S., this enhancement aims to simplify verification processes, thereby supporting better lending decisions.
Equifax (NYSE: EFX) reported record fourth-quarter 2021 revenue of $1.3 billion, a 12% increase year-over-year, with Workforce Solutions revenue up 29%. Full-year revenue reached $4.9 billion, marking a 19% increase. Diluted EPS for Q4 was $0.99, up from $0.61 in Q4 2020. The company anticipates 2022 revenue guidance of $5.25 to $5.35 billion, despite a projected 21.5% decline in the U.S. mortgage market. Adjusted EPS for 2021 was $7.64, up 10% from 2020. Equifax is optimistic about future growth, driven by new product innovation and acquisitions.
Equifax (NYSE: EFX) has completed its acquisition of Efficient Hire, a cloud-based provider of recruiting and HR management solutions, originally announced on January 31, 2022. This acquisition supports Equifax's strategy to strengthen its Workforce Solutions business unit and diversify growth. Efficient Hire focuses on hourly employers in sectors like hospitality and staffing, providing crucial HR management tools. The acquisition is not expected to significantly impact Equifax's 2022 financial results, but it aims to enhance service delivery by integrating Efficient Hire's solutions and capabilities into Equifax's existing offerings.
Equifax has declared a quarterly dividend of $0.39 per share, set for payment on March 15, 2022. This dividend is payable to shareholders on record by the close of business on February 22, 2022. With this announcement, Equifax continues to uphold a strong tradition, having consistently paid cash dividends for over 100 consecutive years. This move reaffirms the company's commitment to returning value to shareholders while strengthening its position in the market.
Equifax (NYSE: EFX) announced a definitive agreement to acquire Efficient Hire, enhancing its Workforce Solutions division. This acquisition aims to provide more comprehensive services in a competitive hiring landscape. Efficient Hire specializes in cloud recruiting, onboarding, and HR management for hourly employers, particularly in industries like hospitality and staffing. The deal is expected to close in February 2022 and will not materially impact Equifax's 2022 financial results. The acquisition reflects Equifax's strategy to diversify and strengthen its service offerings in the HR and recruitment domain.
Equifax (NYSE: EFX) will release its fourth quarter 2021 financial results on February 9, 2022, after market close. A conference call is scheduled for February 10 at 8:30 a.m. ET, where senior management will discuss these results. Presentation materials will be available on the investor website before the call. Equifax, a global data and analytics company, plays a crucial role in economic decision-making, operating in 24 countries and employing over 13,000 people.
Equifax (NYSE: EFX) has launched an enhanced instant employment and income verification service via The Work Number® utilizing the Encompass Partner Connect API platform from ICE Mortgage Technology (NYSE: ICE). This integration allows loan officers to access customizable verification solutions seamlessly, improving efficiency in mortgage applications. The Work Number database provides lenders access to over 500 million employee records, aiding in quicker loan origination. This collaboration aims to streamline the mortgage process, benefiting both lenders and prospective homebuyers.
Equifax has announced the international expansion of its Verification Exchange services into Australia and the United Kingdom, following successful launches in Canada and India. This expansion is supported by a $1.5 billion investment in the Equifax Cloud, aimed at enhancing the verification process for employment and income. The automated service aims to reduce fraud and support compliance, streamlining lending decisions for consumers. Equifax plans to further expand these services into additional international markets.
The Big Three U.S. credit reporting agencies, Equifax (NYSE: EFX), TransUnion (NYSE: TRU), and Experian, are extending their offer of free weekly credit reports for consumers until the end of 2022. This initiative aims to assist individuals in navigating financial challenges posed by the ongoing COVID-19 pandemic. The joint statement from the CEOs emphasizes their commitment to helping consumers manage their credit and financial future amidst inflation and market uncertainty. Consumers can access these reports at www.annualcreditreport.com.
On January 24, 2022, Equifax (NYSE: EFX), Experian (LON:EXPN), and TransUnion (NYSE:TRU) jointly announced an extension of their pandemic response service to provide consumers with free weekly credit reports through the end of 2022. This initiative aims to assist consumers in managing their financial health amid ongoing economic challenges. The CEOs of the agencies emphasized their commitment to supporting consumers in tracking their financial well-being during these uncertain times, with credit reports playing a critical role in financial decision-making.