TransUnion - TRU STOCK NEWS

TransUnion has appointed Todd Skinner as President, International, effective August 16, 2021, following David Neenan's decision to retire in January 2022. Neenan's tenure saw the International business revenue grow significantly from $270 million in 2015 to $629 million in 2019, with double-digit organic growth each year. Skinner, who has nearly 30 years of experience, previously served as Regional President for Canada, Latin America, and the Caribbean, where he drove revenue growth from $62 million to $104 million between 2015 and 2019.

TransUnion's Quarterly Fraud Analysis

TransUnion's latest report highlights a significant shift in digital fraud attempts, revealing a 16.5% increase globally year-over-year, with a 17.1% rise in the U.S. Gaming and travel sectors saw dramatic increases at 393.0% and 155.9% respectively. Over one-third of consumers reported being targeted by COVID-19 related fraud. Phishing remains the most common type of fraud. Businesses are encouraged to enhance security measures to protect increasingly wary consumers.

TransUnion (NYSE: TRU) announced a cash dividend of $0.095 per share for Q2 2021. This dividend is set to be paid on September 9, 2021, to shareholders who are on record by August 25, 2021. The company is recognized for providing essential information and insights that empower individuals and businesses, promoting economic opportunities globally.

TransUnion (NYSE: TRU) reported robust growth for Q2 2021, with total revenue increasing 22% to $774 million, driven by economic recovery in key markets. Net income rose to $128 million, leading to a diluted EPS of $0.66. The company raised its full-year financial guidance, anticipating ongoing market improvements. Adjusted EBITDA climbed 31% to $319 million with a margin of 41.1%. The U.S. Markets generated $485 million in revenue, up 20%, while International revenue surged 44% to $172 million. The company maintains a strong balance sheet with $526 million in cash and $300 million in undrawn credit capacity.

TransUnion conducted an analysis highlighting the benefits of rent payment reporting for consumers, revealing that including rent payments in credit files increases credit scores by nearly 60 points on average. The study indicates that approximately 9% of renters moved from unscorable to scorable, achieving an average score of 631. Moreover, 12% shifted to a higher credit tier, with subprime individuals seeing significant improvements. This initiative aims to enhance financial inclusion and support consumers who make substantial monthly rent payments.

TransUnion (NYSE: TRU) has announced a new partnership with the Homeland Security Experts Group, sponsoring the inaugural Homeland Security Enterprise Forum on Sept. 13-14, 2021. This event commemorates the 20th anniversary of 9/11, focusing on public-private cooperation for enhanced homeland security. TransUnion aims to strengthen its engagement with government decision-makers and leverage advancements in AI and machine learning for innovative solutions. Their public sector division offers key services including fraud detection and identity authentication to various government agencies.

TransUnion's latest report indicates a revival in the personal lines insurance market, approaching pre-pandemic levels.

As of March 28, 2021, property insurance shopping surged by 24.6% year-over-year, while auto insurance only saw a 14.0% increase. Contributing factors include rising mortgage originations and improving consumer finances.

Mark McElroy, TransUnion's EVP, predicts sustained positive trends in insurance shopping as the economy recovers.

TransUnion (NYSE: TRU) announces it will release its second-quarter financial results for the period ending June 30, 2021, on July 27, 2021, at 6:00 a.m. Central Time. The company will host a conference call at 8:30 a.m. CT the same day to discuss these results. Both the press release and a live webcast of the call will be accessible via the TransUnion Investor Relations website. This release is part of TransUnion's ongoing efforts to provide insights and create economic opportunity across its global operations.

TransUnion released a study indicating significant consumer engagement in financial hardship programs during the COVID-19 pandemic, with around 7% of credit product accounts enrolled. Notably, 70% of non-prime and 80% of prime consumers continued payment during hardship. The report also highlights a drop in hardship accounts from May 2020 to May 2021, showcasing improved financial stability. Early exiters from these programs exhibited lower risk profiles, with roughly 80% remaining out of hardship after nine months, suggesting effective utilization of these programs.