Equifax Delivers Fourth Quarter 2024 Revenue Growth of 7%

By Staff Writer Atlanta Trend

• Feb 28, 2025

Atlanta based Equifax has announced financial results for the quarter and full year ended December 31, 2024.

"Equifax delivered fourth quarter revenue of $1.419 billion, up 7% on a reported basis and 9% on a local currency basis, led by very strong 29% U.S. Mortgage revenue growth and continued significant New Product Innovation performance with a Vitality Index of 12%, despite headwinds from the U.S. hiring and mortgage markets. Workforce Solutions delivered 7% revenue growth, driven by strong 10% Verification Services revenue growth led by the Government and Mortgage businesses with lower Talent Solutions revenue from the weaker U.S. hiring market. Employer Services revenue declined 9% in the quarter and was also impacted by the U.S. hiring market. USIS delivered strong revenue growth of over 10%, led by very strong 47% Mortgage revenue growth. International delivered strong 11% local currency revenue growth led by Latin America," said Mark W. Begor, Equifax Chief Executive Officer.

"We are issuing our full-year 2025 guidance midpoint expectation for revenue of $5.950 billion, up 4.7% on a reported basis and 6% on an organic constant currency basis. Our full-year 2025 guidance midpoint expectation for Adjusted EPS is $7.45 per share, up 2% versus 2024. While Equifax continues to execute well against its EFX2027 Strategic Priorities, our 2025 guidance reflects an expectation of an about 12% decline in our 2025 U.S. hard mortgage credit inquiries, compared to down 10% in 2024.

We executed very well against our EFX2027 Strategic Priorities in 2024, despite market headwinds, with close to 85% of our revenue in the new EFX Cloud. In 2024, Equifax delivered $813 million of free cash flow, up 58% versus 2023, and strengthened our balance sheet, positioning us well to grow our dividend and return cash to shareholders through share repurchases in 2025. With our North American Consumer Cloud migrations substantially completed, we are leveraging our new Cloud capabilities to accelerate new product solutions leveraging our differentiated data assets; and investing in new products, data, analytics, and EFX.AI capabilities which are expected to drive growth in 2025 and beyond. We are energized about the New Equifax that is expected to deliver higher margins and accelerating free cash flow in the future."