Mon, Jul 22, 8:18 PM (47 days ago)
Equifax Inc.'s Q2 2024 financial results demonstrate solid growth and improved financial health. Operating revenue increased by 9% to $1,430.5 million, driven by gains in International, USIS, and Workforce Solutions segments. Operating income rose by 19% to $282.2 million, with a 1.7 percentage point increase in operating margin to 19.7%. Net income attributable to Equifax also saw a 19% increase to $163.9 million, translating to diluted earnings per share of $1.31, up from $1.12 in Q2 2023. The company's cash flow from operating activities increased to $520.2 million for the first half of 2024, primarily due to improved net income and working capital changes. Capital expenditures decreased by $52.7 million to $268.6 million, reflecting lower spending on technology infrastructure. Debt levels decreased slightly, with total debt at $5,512.3 million. The company remains in compliance with all debt covenants. Equifax did not repurchase shares in the first half of 2024, maintaining $520.2 million available under its share repurchase authorization. Overall, Equifax's financial performance in Q2 2024 indicates robust growth, improved margins, and strong cash flow management, positioning the company well for future operations.