Equifax Delivers Record 2022 Revenue of $5.122 Billion – Equifax (NYSE:EFX) – Press Release

ATLANTA, Feb. 8, 2023 /PRNewswire/ — Equifax® EFX today announced financial results for the quarter and full year ended December 31, 2022.

  • Full year 2022 revenue grew 4% to $5.122 billion, offsetting the significant 23% mortgage revenue decline
  • Fourth quarter 2022 revenue of $1.198 billion was down 4% due to a 41% decline in mortgage revenue
  • Workforce Solutions 4Q non-mortgage revenue growth of 17% with strong growth in Talent and Government
  • USIS 4Q non-mortgage revenue growth of 10% with strong 19% Online non-mortgage revenue growth
  • International 4Q constant currency revenue growth of 9%
  • Strong new product innovation leveraging new EFX Cloud with record 4Q Vitality Index of 14%
  • Accelerating Cloud cost savings and executing broader restructuring to deliver $200 million of spending reduction in 2023, including $120 million in expense and $80 million in capital spending reductions

“We delivered a strong 2022 with 17% non-mortgage growth in an unprecedented mortgage market decline. Fourth quarter revenue of $1.198 billion was down 4%, given the significant 41% decline in mortgage revenue. Our non-mortgage business, which was over 80% of Equifax in the fourth quarter, delivered very strong constant currency revenue growth of 12%, reflecting broad-based strength across our businesses. Workforce Solutions, our largest and fastest growing business, delivered another exceptional quarter with very strong 17% Non-Mortgage growth. USIS saw very strong Online non-mortgage growth of 19% and International had a strong quarter, finishing with constant dollar revenue growth of 9%,” said Mark W. Begor, CEO of Equifax. “We have strong momentum as we enter a more uncertain 2023 and are continuing to reinvest our outperformance in strategic bolt-on acquisitions that further position Equifax for diversified growth, including our offer to acquire Boa Vista Serviços, the second largest credit bureau in Brazil, which will expand Equifax capabilities in the large and fast-growing Brazilian…