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Equifax Stock Pops as Results Top Forecasts and Firm Announces $3B Buyback

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Key Takeaways

  • Equifax topped first-quarter earnings and revenue forecasts as its U.S. mortgage unit sales grew despite "headwinds."
  • The provider of information about potential borrowers announced a $3 billion share repurchase program.
  • Equifax raised its quarterly dividend by 28%.

Shares of Equifax (EFX) took off Tuesday as the rating service for borrowers topped quarterly profit and sales estimates, announced a new 澳洲幸运5官方开奖结果体彩网:stock buyback program, and raised its dividend.

The company reported first-quarter adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $1.53, with revenue increasing 4% year-over-year to $1.44 billion. Both topped Vi🧔sible Alpha forecasts.

Equifax, whose shares jumped 12% to rank among the top 澳洲幸运5官方开奖结果体彩网:S&P 500 gainers, said the performance came even with "headwinds" from the U.S. Mortgage and Hiring markets. U.S. Mortgage unit 🐟revenue was up 7%, Verification Ser𝄹vices sales added 5%, and sales at the Workforce Solutions division were 3% higher.

The company said because of its strong 澳洲幸运5官方开奖结果体彩网:free cash flow and 澳洲幸运5官方开奖结果体彩网:balance sheet, its board approved 🐭a new $3 billion share repurchase plan that's to run for four years. In addition, Equifax boosted its quarterly dividend to $0.50 per share from $0.39.

Despite today's advance, Equifax shares continue to trade in negative territory year-to-date.

EFX

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