Shareholder letter
Page 1
EQUIFAX® Q12021 EARNINGS Today we reported our 1Q results , and we want to share those results directly with you . We delivered an exceptional quarter with record revenue of $ 1.2B , up an incredible 27 % from last year ; 23 % of that growth was organic in local currency terms - and also an EFX record . The tremendous progress we have made in executing against our strategic priorities is again allowing us to outperform our underlying markets , and deliver outstanding revenue growth and margin expansion . In the US , where the overall economy is recovering more rapidly , we continue to outperform the overall mortgage market , and we also are seeing strong non - mortgage growth across our banking , auto , insurance , government and talent business segments . We believe this same dynamic will play out internationally , as those economies recover . This quarter marks a powerful start to the year ... our fifth consecutive quarter of strong double - digit revenue growth and continued margin expansion , building on our momentum from our record 2020 growth . Here are some additional highlights of our 1Q financial performance : ✰ Strong margin expansion and EPS growth ✰ Workforce Solutions and USIS revenue growth of 59 % and 19 % , respectively , with strong growth across both mortgage and non - mortgage businesses ✰ Completed five strategic , bolt - on acquisitions focused on core growth areas : Kount , HIREtech , i2Verify , AccountScore and CreditWorks ✰ Continued progress on our Equifax Cloud Data and Technology Transformation * Executing EFX2023 strategic framework leveraging the Equifax Cloud for innovation , new products , and growth Raising full - year revenue and Adjusted EPS guidance midpoints by 5 % and 9 % , respectively Looking ahead , we are energized by our strong momentum , and we are pivoting to our next chapter with the launch of EFX2023 , our new strategic priorities that will serve as our company - wide compass through 2023. With our new Equifax Cloud foundation in place , and an enterprise focus on these priorities , we are leveraging the Equifax Cloud for growth over the next three years : * Innovation and new products will fuel our growth in 2021 and beyond as we leverage our new EFXCloud capabilities to bring new products and solutions and multi - data insights to customers faster , more securely and more reliably . As you know , we ramped our investments in product and innovation resources during the past 12 months to accelerate our new product roll - outs leveraging the EFXCloud . Our highly unique and diverse data assets are at the core of what creates Equifax's differentiation in the marketplace . We have data assets at scale including TWN , NCTUE ,