We with were very everyone. results the quarter. John, pleased good our and third financial for morning Thanks,
another The for positive very guidance Equifax. third improvement quarter above were forward results broad showed or sequential were based, step and
driven strongest We constant USIS X%, up for was an and organic by revenue our above on constant businesses currency our our and million Adjusted up guidance. growth U.S. at were Solutions X% up well Workforce up and XX% with growth basis combined strong years. X% units $XXX currency XX% three both in revenue up that adjusted had in
Global in years with showed showing UK. currency Asia-Pacific uncertainty also Latin international up continue quarter, growth in period Canada but the be all America, pressured two in revenue and its to in constant X% of first and was consumer and slowdown growth slightly, the by Brexit the growth Australia
than U.S. the mortgage market in U.S. almost the revenue was were prior expected we compared increase up mortgage as year. much quarter, to XX% stronger
our in growth. EWS, and strength showing saw USIS also with both accelerating businesses U.S. year-to-year We non-mortgage
well our share in margins Our the expansion EPS in July EBITDA with USIS also as as those basis our rate. we per organic versus years the was XXXX guidance up a unit of the and an growth, XX and reported adjusted revenue from adjusted lower $X.XX X.X% basis basis. tax margins revenue on advanced of stronger provided above on better in two was points X% first margin adjusted business the quarter, top-end
very but recovery. strong revenue sign organic XX.X% The we of which the up year. in last non-mortgage growth quarter strengthening on organically a reported X% USIS in a flattish quarter weaker saw the positive was than of sign on X% continued a over basis, we compared grew performance second revenue basis X% was and an XXXX, non-mortgage slightly and anticipated. our X% USIS adjusted of positive versus the organic was Importantly, to also up Online a
addition growth as mortgage, to in ID and we as insurance saw auto, in and fraud, strong growth government. well In
we mortgage previously the the down the mix discussed the impact due solutions by quarter Mortgage in occurred the from which fourth of in stronger X% XXXX, markets. partially offset mortgage to quarter resellers with positive was shift
decrease revenue to a the from mix shift fourth mortgage quarter. We in expect headwind this
were mortgage they on delivering that lenders customers them. substantially and mortgage higher product volumes New deferred focus the implementations in of also as to front sales had our
Marketing up over was compared growing better that The Financial pipeline FMS year in Services growth reflects the was and of our we adjusted X%, to than revenue couple expectations. last the past discussed quarters.
improving, is about FMS but growth quarter, year-to-date still last about choppy talked growth of with we As X%.
at pipeline we customers. be with year-to-date rate. quarter, wins to with and to team Singh XXXX. the growth new their As is are growth from to deal the or positions the year-to-date of normal on commercial look XXXX them Their we and Sid laser-focused in quarter XX% mode moving and fourth above USIS forward up expect XX% growth up for well a fourth
in verticals like also Growth very positive sign. key banking and lending is a
The third growth USIS work forward they step to a positive quarter another was as normal for team to the mode. return
will our data return believe coupled technology to and differentiated to continue growth USIS with mode. We historic our traditional its investments assets
basis in quarter by XXXX expense which the EBITDA in down higher benefit USIS expect us development costs product increased We expect as from primarily USIS on fourth continued future. well quarter, resources we of growth margins points their royalty third we investments driven the in pace commercial recovery. $XX.X% remain were to XXX cautious from still and but as of
than XX% broad Shifting revenue year very based talent better to healthcare Workforce Solutions, to which debt mortgage, quarter strong solutions, had growth was up compared across expectations. verticals. Services and they last driven a was with an strong up Verification double-digit management, our extremely by XX% strong government
reflects products. respectively, excluding well were rollout market revenue benefit mortgage strong active excluded The we Service continued services XX% and the also new EWS XX% up – verification pleased records revenue as with. growth the growth in Verification of and as of the which number benefit are work the growth very
and they to continue EWS new growth potential prior expand in verticals products. discussed as strong we’ve future has rollout existing discussions, in As
roughly As the substantially twin These now million States. I records a mentioned million unique in XXX Twin non-farm United and payroll. database. continued has the earlier, EWS XXX to compare XX individuals U.S. to their in active active over about grow individuals million
Rudy and rates for These huge the for customers Ploder the higher twin consumers. record which U.S. are drive EWS and team, accomplishments additions benefits our hit
future. in the twin We to expect to continue grow records the
we quarter analytics, Employer Workforce driven our businesses. decline our below principally and business, in slightly the onboarding X%, our in ACA well I-X workforce the as saw slight expectations, Offsetting in unemployment business. declined growth services as Analytics, claims by
expect We to services in fourth decline employer mid-single-digit quarter. the percentages revenue
expansion and basis revenue in costs of by XX.X%, EBITDA was of board The the to quarter contributors. strong incurred record expansion dampened Margin adjusted somewhat the quarter new margins verifier strong in resulted Twin in incremental by some growth an very points. EWS XXX
the to well. a and strong is exceptionally EBITDA EWS to in Solutions Workforce margins perform quarter. expect business to continues Equifax We continue for fourth franchise be very
currency, The majority expectations. the international, and was we continue expectations X% on to revenue their our quarter uncertainty. Brexit X% our some was UK fourth the of the versus up local down a but weakness reported in Shifting of below with basis expect to and in the in it by
began lap X% up as consumer begin we markets was currency lending credit commercial quarter to of weakening in in third XXXX. quarter in the third Asia-Pacific the and in Australia that local
than weaker we The third quarter performance anticipated. was also
business commercial saw In nice for as the these, quarter, Both positive business growth. and consumer to see we Australia our nominal returned some of future. the in our growth we in signs third
Australian expect business, service We continue which the into in to our see marketing we to quarter. fourth continue weakness
Overall, Australia than was down and revenue weaker our expectation. slightly slightly
see we expect several next around we over growth hover weak a Australia the the of are next as couple in remain Australia to to quarters. the to market markets, beginning While credit expect we flat result stabilization quarters, revenue over
make Australia we quarter, of very positive almost good to the from had Australian and end with positive in data contributors. progress third of We data the continue X% by
future. in data Australia our be additional to team a new for this expect lever We growth the for in
than our local currency quarter expectations third management both and our in Our weaker European debt business in in was was the businesses. and flat credit
growth Our past the but single-digit than X% revenue in European up an local seen credit year. over we the second improvement the currency, down from still business have weaker X% over in quarter, mid-to-high was
services batch verticals, in in represents growth and online which financial reseller grew the insurance. of marketing almost offset about this weakness was and by and Consumer revenue half X% but credit
the X% business or uncertainty. which million, driven was declined the business local in by currency with than management $X Brexit principally impacted declines continued our debt European by Our UK in less government
continued principally We credit both European debt UK, improvement Brexit in impact management the the slow in on and fourth Spain. quarter, our business expect reflect businesses. In from some uncertainty its in continuing plans our the and limited growth our
Our currency X%. from the grew in high-single-digit Argentina, We saw local in has Chile, a growth Latin Uruguay growth constant and XX% currency Paraguay. America This improved currency quarter in business growth of second double-digit in a strong Mexico constant quarter. and Ecuador,
NPI rollouts as growth region. that and from seeing American rollouts businesses from expansion and a both and XXXX SaaS the accelerate strong are Ignite in Latin hold of XXXX rollouts We taking InterConnect benefit our
quarter focus margin on almost to fourth in new products mid BPS currency in taken actions Canada and Latin the and margins in EBITDA International at grew continued and earlier XX.X% were local year, in expect high-single-digit XXXX. up see to X% adjusted we the a and and innovation quarter. the Canada in in third customer reflecting growth reflecting quarter principally the America fourth a the higher last cost from quarter, Australia in XXX revenue in and of
were than expectations the lower expected to our performance. revenue weaker-than due Margins
We at quarter growth we’ll expect taken during the the with international revenue quarter in be and in year in growth, cost revenue believe about to margins similar XXXX, last positive fourth fourth we third quarter. to along quarter reductions the of fourth benefit this improve the of and continue the full to the levels
That UK said, as Brexit business process unfolds. watching the particularly are we our international closely,
reported Consumer a This a growth incident. in basis and second XXXX substantial of Solutions since the quarter on Global first is from revenue a constant GCS X% revenue improvement currency a X% the quarter. X.X% up in cybersecurity on was the about quarter, up decline the basis
our was total X% just Our of half Direct Consumer business Global and down GCS revenue. was under
business Direct X% revenue XXXX. saw Our Consumer decline U.S. a versus of
late a around in are the our however, lower legal the decision settlements from July. rate, to We subscriber in announcement of XXXX, restart advertising given marketing our of seeing slow additions at
grew Our quarter. Canadian revenue and in businesses, both UK direct the
which business we is the X% partner of revenue which were slightly pleased than GCS GCS Our quarter increased with. more half in
our growth We the in revenue in continue quarter. the fourth expect mid-single-digits partner to
myEquifax XXXX, creating our U.S. of across new the we’ve program an to million and consumers. for December services this During continue base products coming to base consumers. to To-date X our registered membership attractive months we we over expect consumers and those launched in grow
points basis year. as GCS margins to the XX.X% prior of compared Adjusted XXX EBITDA decreased
margins XXXX. XXX However, second of points from quarter increased basis the sequentially
XXXX, the in expected this we of we quarter revenue effective earlier saw taken the and the benefit of As cost growth third quarter the year. actions and in fourth
incurred the Margins negatively new to impacted were quarter contract. costs one-time GCS by related the also a up set in some multi-year during quarter
and the corner is expect margin revenue turning fourth Our GCS continued quarter in clearly and and business growth expansion XXXX. we the into
our technology achieved in Shifting significant now EFX some to third milestones the again XXXX we quarter. transformation,
on major in our data we data fabric milestone First, achieved began as running a we two production cloud GCP. new in exchanges
production in Our credit or ACRO U.S. is replica the on database data consumer fabrics.
We database this are benefits many going cloud to from a receive having in format.
deliver alerts database this virtually to benefits us customers. streaming One and to of our structure data of allows the cloud
we customers large capability on quarter, market-leading only During cloud important real-time to capability increasingly and customers. the this our is rolled possible is infrastructure. Its one of U.S. out a to many
many One of benefits continue quarters initiative. to expect coming to we we as advance come the in our the cloud
identity Second a migration GCP validation also was exchange this in individual our that XXXX. early household and production in using legacy products exchange on moved to Sunset exchange being full with data manages quarter. This the identity
work are and standard our our in significant be and in production native expecting fabric CTUE exchange the as cloud-based We fourth in common will on number auto data further fabric data the data using in fabrics the structures. progress new databases quarter, U.S.
build capability us products new real and speed data the and critical to these with across are assets data These access as for market-leading new milestones fabric easily Equifax allows stability.
Cambrian in data using production be fabric our the in cloud-native Also quarter, in structures. fourth will
fourth XXXX our data fabric part expecting accelerating using Wealth our also Tax and structures. progress are We Forms Exchanges our cloud-native new in consumer will commercial as be in quarter credit and in U.S. production and the Data first of IXI
technology our fabric very accelerating feel data our from clearly migrations cloud-based of data a XXXX as infrastructure. our fabric are to We about legacy and part new data progress and with our we exchanges EFX good transformation
number interfaces A service our management select continue decisioning Ignite very markets our AWS are and to we our progress new GCP. Second, that integrated make platforms modeling consumer production Attribute on in international the customers at in combines products platform new both for this environments good with also and deploying InterConnect online of migration shortly U.S. at and available Analytics platform and today. and
XXXX. Product continuously the with expected to expand of availability – first the availability half be product expected in will broad in U.S.
substantial Australia. in deploying in Next Europe our U.S., we made the fabric quarter, the progress network third new and
directly our and strengthen This new network security. Equifax, AWS cloud network between customers GCP move on to allows our fabric us stability and securely private and traffic improve substantially and environments and to virtual our performance
Network performance full discussed partners services the is and I expanded critical to customers take of allowing earlier. to our advantage
deliver performance to customers. Our new network will our industry-leading
decisioning network and across the are Ignite in of our the and native and interface progress Finally, enablers Intertech customers legacy onto product suite. fabric, new strong the data deployment our supporting systems Ignite that product are migration fabric critical our development from InterConnect
those planning, We quarter are now continue seeing well as Customer in with the XXXX. good progress enter in migrations. customer migrations will and migrations, both executing as collaborative fourth accelerate as we
customer of and to expect USIS have complete migrations and datacenters year-to-date, And will the We EWS by five balance decommissionings the the and into through these end continue XXXX. the of year globally majority we of decommissioned XXXX.
as our decommissioning transformation and we savings our making cloud-based there. benefits expect by and deliver we As previously, technology a to cloud the from progress infrastructure and are driven are a our legacy infrastructure see, move you we discussed to can of
in our the positive sense you gives will customers. a that to progress our of cloud-based we deliver transformation new hope technology this technology I are making
on into achieved third good making as quarter progress laser-focused are milestones we quarter and momentum and in good fourth and XXXX. are the critical move We with execution
now continues our Shifting for strong new product be component to to key strategy and EFXXXXX long-term innovation, a of muscle Equifax. this a
which XXXX, funnel We from launch of up to we pipeline gave at ago. have about XX XX% a from and months products various and about active is new stages the year in we guidance you in last expect few an products the up
launches XXXX. Importantly, to in double USIS are XXXX expected product from
bring driving products as very is with continue our focus important focus sign to good to and this growth for market. rollouts lever we an a plan and be collaborate NPI new prioritized XXXX customers Equifax. to NPIs XXXX. in on have in We to This continue resources
parties USIS they other and new devices. mobile validation products. ID customers Across and both Twin we Workforce digital of progress and ID good identification helping through with with with our Advisor Eligibility identities fraud and identity the whom Solutions, government are interacting are InstaTouch seeing validate are commercial and
identity with in fraud in platform. substantially of expand new the capabilities identity and fraud fourth Luminate the and Our our will launch quarter
we businesses over and telecom delivering partnership XXXX aggregator providers. cable and M&A the with in utility Urjanet, front, leading a that to utilities, easier data data strategic This their new Shifting complete and of share partnership was history, consumers a individual a September, from identity announced access new at picture payment empowers potential partnership data to more and to credit. global payment the for of verification for expanded
satellite This file. our this to Urjanet’s our into assets. gas, on has adds providers consumer and three electric, differentiated space average which data permission data cable, partnership consumer credit existing with telco their rich that in builds alternative An data U.S. relationships payment leadership to data and incorporating provided five
like we accelerating datasets around Strategic very Urjanet year the Equifax for are new continue expand The PayNet an since lever XX% executed growth to well globe. partnerships this to acquisition to acquisition. look the important growth we performing opportunities revenue our with and for earlier is
Equifax and new combined We customers. us credit business seeing fin-tech lending, and commercial the databases improved card commercial win are predictability of the PayNet new coverage allowing and to also with
Consumer, at Wrapping move at return quarter a in positive strong double-digit in they was Solutions, normal move broad some very we and forward up, international to delivered third growth mode. very to growth back normal while stabilization sequential growth Workforce improved our – markets. We with for at USIS, the growth our as to based the step Equifax to challenging our back work operate Global growth as we
assets, data first delivered expansion that security, in to commercial years two margin in invest continuing first expanded – – technology, products in over we and over the resources. two our new was new years while delivered that was we This first also off
very EFXXXXX financial in critical cloud we lot and a have We know we of commitments only our that do. not Overall, technology we milestones to exceed pleased to our importantly, transformation. meet, achieved work but several still are
our of We positive business about the EFXXXXX the initiatives. are and momentum behind energized progress the
positive and turn We technology progress and market-leading XXXX. excited analytics than me of it ever during about data future our into company XXXX balance the John. and a expect to let continued that, as more with am over I
