Welcome to our dedicated page for First Advantage Corporation news (Ticker: FA), a resource for investors and traders seeking the latest updates and insights on First Advantage Corporation stock.
First Advantage Corporation (NASDAQ: FA) is a premier global provider of employment background screening and verification solutions. With headquarters in Atlanta, Georgia, the company operates in over 200 countries and territories, leveraging advanced technology and a robust global infrastructure. The company's core mission is to help employers and housing providers make informed decisions, reduce risks, and ensure compliance.
The company operates through two main segments: Americas, which caters to the United States, Canada, and Latin America, and International, covering markets outside of the Americas. First Advantage offers a diverse suite of services that include background checks, employment verifications, identity checks, and compliance services. These solutions are critical for customers in industries such as healthcare, retail, e-commerce, transportation, manufacturing, and financial services.
First Advantage's technology solutions are designed to streamline the hiring process, making it faster and more reliable. Their innovative tools include RightID for identity fraud detection, which utilizes liveness detection and document validation to combat the growing issue of applicant fraud. The company's comprehensive approach ensures employers can maintain safety and trust while reducing onboarding costs.
In recent developments, First Advantage announced the acquisition of Sterling Check Corp., a move that is expected to enhance its service portfolio and client base. The transaction, valued at approximately $2.2 billion, will enable First Advantage to offer more innovative solutions and expand its market reach. This acquisition underscores the company's commitment to growth and innovation, positioning it for long-term success.
Financially, First Advantage has shown robust performance, highlighted by strategic investments and share repurchase programs. The company continues to demonstrate strong margins, healthy cash flow, and a balanced capital allocation strategy. Recent achievements include the completion of the third-quarter 2023 earnings call, where the company reported significant progress and future plans.
For detailed information on First Advantage's products, services, and latest news, visit their website. Stay updated with their latest developments and financial performance on the Investor Relations page.
First Advantage (NASDAQ: FA) reported Q3 2024 results with revenues of $199.1 million, down 0.6% year-over-year. The company posted a net loss of $(8.9) million, including $13.2 million of expenses related to the Sterling acquisition. Adjusted EBITDA was $64.0 million with a 32.2% margin. The company completed the Sterling acquisition on October 31, 2024.
First Advantage maintains its standalone 2024 guidance with revenues of $750-800 million and Adjusted EBITDA of $228-248 million. The combined company guidance including Sterling for November-December 2024 projects revenues of $858-918 million and Adjusted EBITDA of $250-274 million. The company has already actioned over $10 million in run-rate cost synergies.
First Advantage (NASDAQ: FA) has announced its management team's participation in two upcoming investor conferences in November 2024. The company will attend the J.P. Morgan Ultimate Services Investor Conference on November 14 in New York City, with a webcast at 8:50am ET, and the RBC Capital Markets Global Technology, Internet, Media and Telecommunications Conference on November 19, also in New York City, with a webcast at 1:20pm ET. Live webcasts will be accessible through First Advantage's investor relations website, with replays available for a time after the events.
First Advantage (NASDAQ:FA) has completed its $2.2 billion acquisition of Sterling Check Corp., creating a combined entity with pro forma revenue of approximately $1.5 billion. The transaction is expected to deliver $50-70 million in run-rate synergies and immediate double-digit EPS accretion. The merger strengthens First Advantage's global reach and enhances its background screening, identity, and verification technology solutions across various industries. The combined company will focus on AI-driven automation and digital identification technologies while diversifying revenue across customer segments, industries, and geographies.
First Advantage (NASDAQ: FA), a leading provider of employment background screening, identity, and verification solutions, has announced the release of its third quarter 2024 financial results on Tuesday, November 12, 2024. The company will hold an earnings conference call at 8:30 a.m. ET on the same day.
To participate in the conference call, investors can dial 800-445-7795 (domestic) or 785-424-1699 (international) approximately ten minutes before the start time. The call will also be webcast live on the company's investor relations website at https://investors.fadv.com. Related presentation materials will be posted prior to the call, and a replay of the webcast will be available on the website after the conference.
First Advantage (NASDAQ:FA) and Sterling Check Corp. (NASDAQ:STER) have announced the election deadline for Sterling stockholders to choose their preferred merger consideration in First Advantage's acquisition of Sterling. The deadline is set for 5:00 p.m. Eastern Time on October 24, 2024. Stockholders can elect to receive either $16.73 in cash or 0.979 shares of First Advantage common stock per Sterling share. The merger consideration is subject to proration, with 72% of Sterling shares converting to cash and 28% to stock. The transaction is expected to close on October 31, 2024, pending regulatory approvals and other conditions. Election materials were sent to stockholders beginning September 5, 2024. Stockholders holding shares through banks or brokers may have earlier deadlines and should review materials carefully.
First Advantage (NASDAQ:FA) has released its 2023 Sustainability Report, highlighting the company's commitment to environmental, community, and governance initiatives. The report focuses on four key areas: people and community, environment and climate, governance and accountability, and policy and process.
Key highlights include:
- Implementation of TCFD framework recommendations
- Advancement of employee engagement and inclusion strategies
- Expansion of the SOAR program for leadership development
- Promotion of community involvement through partnerships and volunteer programs
- Enhancement of supply chain responsibility and governance
- Strengthening of data privacy and cybersecurity efforts
- Creation of a Corporate Responsibility and Sustainability Policy
CEO Scott Staples emphasized the company's commitment to sustainability and responsible business practices. The report aligns with SASB standards and the TCFD framework, demonstrating First Advantage's dedication to transparency and progress in sustainability efforts.
First Advantage (NASDAQ: FA) has announced the promotion of Joelle Smith to President, effective Sept. 16, 2024. Previously serving as President of Data, Technology, and Experience, Smith will now lead the company's go-to-market teams alongside her existing responsibilities. This strategic move aims to enhance speed-to-market, growth, and market differentiation, particularly in AI and digital offerings for background screening, identity, and verification solutions.
Smith, who joined First Advantage in 2017, has been instrumental in the company's growth, contributing to its successful IPO in 2021 and launching new revenue-generating products. Her promotion aligns with First Advantage's focus on product and technology innovation to address evolving customer needs in the background screening industry.
First Advantage (NASDAQ: FA) reported Q2 2024 results, reaffirming full-year 2024 guidance. Key highlights:
- Revenues: $184.5 million
- Net Income: $1.9 million (1.0% margin)
- Adjusted EBITDA: $55.8 million (30.2% margin)
- Adjusted Diluted EPS: $0.21
The company announced CFO David Gamsey's retirement, to be succeeded by Steven Marks. The Sterling acquisition is progressing, expected to close in Q4 2024. First Advantage reaffirmed its standalone 2024 guidance: Revenues of $750-800 million, Adjusted EBITDA of $228-248 million, and Adjusted Diluted EPS of $0.88-0.98.
First Advantage (NASDAQ: FA), a leading provider of employment background screening, identity, and verification solutions, has announced the release of its second quarter 2024 financial results on Thursday, August 8, 2024. The company will hold an earnings conference call at 8:30 a.m. ET on the same day.
Investors can participate in the conference call by dialing 800-343-4136 (domestic) or 203-518-9843 (international) approximately ten minutes before the start time. The call will also be webcast live on the company's investor relations website. A replay of the webcast will be available after the conference call.
First Advantage (NASDAQ: FA), a key player in employment background screening and verification solutions, will be participating in notable investor conferences in June 2024. The company's management will host meetings and present at the Stifel 2024 Cross Sector Insight Conference on June 4 in Boston, Massachusetts, at 9:45 AM ET, and the William Blair 44th Annual Growth Stock Conference on June 6 in Chicago, Illinois, at 12:20 PM ET. Live webcasts of these events will be accessible via the First Advantage investor relations website, where replays will also be available for a period post-event.
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