Equifax Earnings: EFX Stock Bumps Up on Q1 Beat

Equifax (NYSE:EFX) earnings for first quarter of 2020 have EFX stock up after-hours Monday. This comes after reporting adjusted earnings per share (EPS) of $1.40, which beats out Wall Street’s estimate of $1.29. The credit reporting agency’s revenue of $957.9 million also comes in above analysts’ estimates of $911.81 million.

Equifax Earnings: EFX Stock Bumps Up on Q1 Beat
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The following are some additional highlights from the most recent Equifax earnings report.

  • Adjusted per-share earnings are up 16.67% from $1.20 during the same time last year.
  • Revenue for the quarter is sitting 13.21% higher than the $846.1 million in the first quarter of 2019.
  • Operating income of $135.9 million is a positive switch year-over-year from an operating loss of $617.9 million.
  • The Equifax earnings report also includes a net income of $114.5 million.
  • That’s much better than the company’s net loss of $554.4 million in the same period of the year prior.

Mark Begor, CEO of Equifax, said this about the EFX stock earnings report:

“Even with the impact of the pandemic in March, Equifax delivered its strongest quarterly revenue performance since the 2017 cyber event with broad based revenue and margin growth. The strong First Quarter performance follows our momentum in the second half of 2019 and positions us well to weather the economic impacts of Coronavirus.”

The Equifax earnings report notes that the company is withdrawing its 2020 guidance. It also isn’t providing guidance for the second quarter of the year. It attributes this decision to the novel coronavirus.

EFX stock was up slightly after-hours Monday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/04/equifax-earnings-bump-efx-stock/.

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