Equifax Analysts Cut Their Forecasts After Q1 Results

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

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

Equifax said it sees second-quarter adjusted earnings of $1.65 to $1.75 per share, versus 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 delivering revenue of $1.389 billion, up a strong 7%. Our U.S. mortgage business grew a strong 6% despite a 19% decline in USIS mortgage credit inquiries. Our non-mortgage business, which was about 80% of Equifax revenue in the first quarter, delivered very strong broad-based 9% local currency revenue growth, from continued strong new product performance with a New Product Vitality Index of 9% and 85% of new models and scores built using AI and ML. Workforce Solutions delivered very strong 15% non-mortgage Verification Services revenue growth led by the Government business, with 1% overall growth from the U.S. mortgage market decline,” said Mark W. Begor, Equifax Chief Executive Officer.

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

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

• Baird cut the price target on Equifax from $275 to $260. Baird analyst Jeffrey Meuler maintained an 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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