Equifax Inc Stock Price, News & Analysis

Equifax (NYSE: EFX) has launched the Merchant Data Network, a cloud-based solution aimed at enhancing visibility into U.S. small business financial profiles. This network combines Equifax's Commercial Financial Network data with aggregated credit card transaction data from providers like Fiserv, covering 5.5 million businesses and over 50 billion annual transactions.

The network aims to improve traditional commercial scoring by more than 8%, offering up to 60 months of aggregate transaction history. This data helps verify merchant income, establish payment ability, and provide insights for businesses with credit information. The solution supports faster, more informed lending decisions, potentially increasing access to capital for small businesses.

Equifax (NYSE: EFX) has announced its participation in several investor conferences in September 2024. CEO Mark W. Begor and CFO John Gamble will attend the Barclays Virtual Credit Bureau Day on September 4 and the Barclays Global Financial Services Conference on September 10. The latter includes a Fireside Chat at 10:30 A.M. ET, which will be webcast live and available for replay on the company's Investor Relations website.

Additionally, Trevor Burns, SVP of Corporate Investor Relations, will represent Equifax at the JP Morgan U.S. Allstars Conference on September 17 and the Citi Growth Conference on September 18, both in London. These events provide opportunities for investors to gain insights into Equifax's strategies and performance.

Workday (NASDAQ: WDAY) and Equifax (NYSE: EFX) have announced a strategic partnership to modernize the employment and income verification process. The collaboration will integrate Workday Payroll with Equifax's The Work Number® service, enabling faster and more efficient verifications for Workday customers' employees. This partnership aims to streamline operations, reduce costs, and improve the employee experience by simplifying the process for securing loans and government benefits.

The new Employment Verification Connector For Equifax is expected to be available to all U.S. Payroll customers in 2025, provided at no additional cost. This integration will allow for seamless, instant verifications, supporting employees in important life events such as buying their first home or applying for auto loans.

Equifax (NYSE: EFX) has announced that its Board of Directors has declared a quarterly dividend of $0.39 per share. The dividend will be payable on September 13, 2024, to shareholders of record as of the close of business on September 3, 2024. This declaration continues Equifax's impressive track record of paying cash dividends for over 100 consecutive years. The consistency in dividend payments demonstrates Equifax's commitment to providing regular returns to its shareholders and reflects the company's financial stability and long-term value creation.

Cormetech, a leading manufacturer of SCR Catalyst and Carbon Capture Adsorbers, has announced a significant leadership change. Patricia Martinez will be appointed as the new President & CEO, effective August 19th, 2024. She brings over 25 years of industry experience, with a focus on low-carbon energy solutions. Mike Mattes, the current President & CEO, will transition to the role of Chairman of the Board.

Martinez's appointment is expected to drive Cormetech's growth in the emissions control industry, particularly in areas such as Electrification, Carbon Capture Utilization and Sequestration (CCUS), Bio Energy, and Hydrogen. The company aims to leverage her expertise to expand its product lines and solidify its position as an industry leader.

Beazer Homes (NYSE: BZH) announced financial results for Q3 FY2024. Despite challenging conditions, the company reported Adjusted EBITDA of $53.5 million and EPS of $0.88. The company repurchased 450,000 shares.

Q3 highlights compared to Q3 FY2023:

• Net income: $27.2 million, down 38.0%
• Homebuilding revenue: $589.6 million, up 3.3%
• Home closings: 1,167 homes, up 4.5%
• Gross margin: 20.3%, down 310 basis points
• Orders: 1,070, down 10.8%
• Backlog value: $1.05 billion, up 3.6%
• SG&A: 11.9%, up 40 basis points
• Land spending: $201.1 million, up 52.7%
• Liquidity: $328.2 million
• Net debt to net capitalization: 45.8%, up from 40.3%

The company continues to advance ESG initiatives, with over 90% of Q3 starts meeting Zero Energy Ready standards. Michael Dunn was appointed as General Counsel, and John J. Kelley joined the Board of Directors.

Equifax (NYSE: EFX) has announced its participation in several investor conferences during August 2024. Trevor Burns, Senior Vice President of Corporate Investor Relations, will represent the company at four key events:

• Oppenheimer 27th Annual Technology, Internet & Communications Conference on August 14
• Needham Virtual FinTech & Digital Transformation Conference on August 15
• Wells Fargo 9th Annual FinTech, Information & Business Services Forum on August 21
• Deutsche Bank's 2024 Technology Conference on August 28

These conferences provide Equifax with opportunities to engage with investors and showcase its position in the financial technology and information services sectors.

Equifax (NYSE: EFX) has introduced All Employers Within 90 Days™, a new mortgage verification solution powered by The Work Number®. This offering allows credentialed lenders to verify a borrower's income and employment information from the previous 90 days, addressing situations where extended employment records are unnecessary. Equifax has also modified its existing 12-month and 24-month verification offerings to streamline billing processes.

These solutions aim to provide lenders with flexibility, faster closing times, and enhanced loan processes. The company emphasizes its commitment to offering tailored verification solutions at various price points, backed by industry-leading security capabilities. Equifax's The Work Number database serves as the leading commercial source of consolidated employment information in the United States, enabling instant verification for credentialed verifiers with permissible purposes.

Equifax (NYSE: EFX) reported strong second quarter 2024 results with revenue of $1.430 billion, up 9% year-over-year. The company saw 13% non-mortgage local currency revenue growth, driven by a 20% increase in Workforce Solutions non-mortgage Verification Services. Despite a 13% decline in USIS mortgage credit inquiries, U.S. mortgage revenue grew 4%. International revenue increased 17% on a reported basis and 28% on a local currency basis.

Equifax maintained its full-year 2024 guidance, expecting revenue of $5.720 billion (up 8.6%) and Adjusted EPS of $7.35. The company's New Product Vitality Index reached 12.5%, with 89% of new models and scores built using AI and ML. CEO Mark W. Begor expressed confidence in Equifax's long-term 8-12% revenue growth framework, driven by non-mortgage revenue growth and cloud transformation completion.