Equifax Analysts Cut Their Forecasts After First-Quarter Results – Equifax (NYSE:EFX)

Equifax Inc. EFX reported worse-than-expected first-quarter sales results and issued adjusted guidance Wednesday below estimates.

Equifax reported quarterly revenue of $1.389 billion, missing market estimates of $1.400 billion, according to data from Benzinga Pro.

Equifax said it expects second-quarter adjusted earnings of $1.65 to $1.75 per share, compared to market estimates of $1.87 per share. The company expects revenue of $1.41 billion to $1.43 billion, versus expectations of $1.44 billion.

“Equifax performed well in the first quarter against our EFX2026 strategic priorities in a very challenging mortgage market, generating revenue of $1.389 billion, up 7%. Our U.S. mortgage business grew 6% despite a 19% decline in mortgage applications to USIS. Our non-mortgage businesses, which represented approximately 80% of Equifax revenue in the first quarter, experienced very strong, across-the-board local currency revenue growth of 9%, driven by continued strong performance of new products with a new product vitality index of 9% and 85%. of new models and scores created using AI and ML. Workforce Solutions reported strong non-mortgage review services revenue growth of 15%, driven by government business, with overall growth of 1% resulting from the decline of the U.S. mortgage market,” said Mark W. Begor, Chief Executive Officer by Equifax.

Equifax shares fell 8.5% to close at $217.51 ​​on Thursday.

These analysts made changes to their price targets on Equifax following the earnings announcement.

• Baird cut price target on Equifax from $275 to $260. Baird analyst Jeffrey Meuler maintained Outperform rating.
• JP Morgan lowered the price target on Equifax from $290 to $273. JP Morgan analyst Andrew Steinerman maintained an Overweight rating.

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