Profit increased for S&P 500 (NYSE:SPY) component Equifax Inc.’s (NYSE:EFX). Equifax Inc. provides information solutions, employment and income verification and human resources business process outsourcing services.
Equifax Earnings Cheat Sheet for the First Quarter
Results: Net income for Equifax Inc. rose to $57.3 million (46 cents/share) vs. $56.7 million (44 cents/share) in the same quarter a year earlier. A rise of 1.1% from the year earlier quarter.
Revenue: Rose 2.4% to $472.6 million YoY.
Actual vs. Wall St. Expectations: EFX adjusted income of 58 cents per share beat the mean analyst estimate of 57 cents/share, which typically includes other factors. Estimates ranged from 56 cents per share to 59 cents per share.
Quoting Management: “The momentum we developed throughout 2010 carried into our first quarter performance. The individual strengths of our five businesses were well demonstrated as performance in International and Personal Solutions exceeded our expectations,” said Richard F. Smith, Equifax’s Chairman and Chief Executive Officer. “We also made good progress on our strategic initiatives around new product innovation, globalizing Decision 360, broadening our unique data assets and expanding our partnerships and data records in India. Our outlook for the year has not changed as we expect good revenue growth for the remainder of the year and improving margins during the second half of 2011.”
Key Stats: The company has now seen net income rise in three-straight quarters. In the fourth quarter of the last fiscal year, net income rose 3.3% and in the third quarter of the last fiscal year, the figure rose 28.1%.
Today’s Performance: Shares of EFX are trading at $37.67 as of April 27, 2011 at 5:24 PM ET, down 0.9% from the previous closing price of $38.02.