Equifax shares surge 11% following third-quarter earnings beat

Equifax, Inc. (EFX) saw its stock price rise by approximately 11% on October 20, closing at $176.54 after reporting third-quarter financial results. The company outperformed analyst expectations, reporting adjusted earnings of $2.26 per share against a forecast of $2.20, while revenue met expectations at $1.69 billion.

Key growth drivers included a 15% increase in the U.S. mortgage segment and a 20% surge in the talent solutions business. Overall, net income rose by 32%, and GAAP earnings per share increased by 39% compared to the previous year.

Despite the quarterly beat, Equifax issued a cautious full-year revenue guidance, projecting approximately $6.66 billion. Management noted that high interest rates continue to dampen mortgage demand, impacting that specific segment of the business.