EQUIFAX INC Earnings Summary — Q2 FY2026

• Equifax achieved record first quarter revenue of $1.649 billion, exceeding the midpoint of February guidance by $37 million.
• USIS segment revenue surged 21% YoY, significantly outperforming its long-term financial framework of 6-8%, led by 60% mortgage revenue growth.
• Workforce Solutions demonstrated strong resilience with 10% revenue growth, powered by a 14% increase in Verification Services.
• The New Product Innovation (NPI) Vitality Index reached 17%, substantially higher than the long-term target of 10%, driven by cloud and AI capabilities.
• Management noted a slowdown in mortgage activity later in the quarter due to rising interest rates linked to the Iran conflict.
• The company returned $327 million to shareholders through $260 million in share repurchases and $67 million in dividends.
• International markets grew 4% in local currency, with Canada showing high single-digit strength, despite broader global macro uncertainty.

Management is maintaining its full-year 2026 local currency revenue growth guidance at ~10% despite the strong Q1, citing uncertainty from higher mortgage rates and the Iran conflict. Full-year reported revenue was adjusted upward by $25 million and Adjusted EPS by $0.04 to reflect favorable foreign exchange impacts.

Improving

While macro headwinds persist in the mortgage sector, the company's non-mortgage segments and cloud efficiency gains are driving structural margin expansion and revenue outperformance.

The outlook remains focused on leveraging the 'EFX Cloud' and AI data moats to expand non-mortgage services like Government and Consumer Lending, while managing cyclicality in the U.S. housing market.