What were the main drivers of Equifax's revenue growth in the first nine months of 2026?

Equifax's revenue growth was driven by strong performance across all three segments: Workforce Solutions (+8%), U.S. Information Solutions (+17%), and International (+10%). The U.S. Information Solutions segment saw significant growth from online information solutions, fueled by mortgage and diversified markets. Workforce Solutions benefited from Verification Services, and International growth was led by Asia Pacific and Latin America.

How did Equifax manage its expenses relative to its revenue growth?

While revenue increased by 11%, total operating expenses grew by 10%. Cost of services saw a notable increase of 16%, primarily due to higher royalty and revenue share costs, and increased people costs in the nine-month period. Selling, general and administrative expenses increased by 3%, impacted by litigation expenses, but partially offset by lower people costs. Despite rising expenses, the company's revenue growth outpaced expense growth, leading to improved operating income and margins.

What is the current liquidity position and how does Equifax manage its debt?

Equifax maintains a strong liquidity position with $192.9 million in cash and cash equivalents and $1.8 billion available under its revolving credit facility as of September 30, 2026. The company issued $1 billion in senior notes in July 2026, increasing its total debt. Approximately 97% of its debt is fixed-rate. Equifax was in compliance with all its debt covenants as of September 30, 2026.

Are there any significant legal or regulatory matters that investors should be aware of?

The company is involved in several legal proceedings, including a settlement for inquiry disputes and a preliminary approved settlement for FCRA litigation related to a coding issue, for which accruals have been made. Equifax is also cooperating with a Consumer Financial Protection Bureau (CFPB) investigation into data accuracy and dispute handling within its Workforce Solutions business unit. While the company believes it has valid defenses, these matters carry inherent uncertainties.

EFX 10-Q Quarterly Report Q3 FY2026 — Revenue, Net Income, EPS

01—Abstract

Summary

Summary of the 10-Q filed October 20, 2026. Cited figures are marked; the original filing is the authoritative source.

Equifax Inc. (EFX) reported strong financial performance for the nine months ended September 30, 2026.

Revenue increased by 11% year-over-year to $5.04 billion^a, driven by robust growth across all segments: Workforce Solutions (+8%), U.S. Information Solutions (+17%), and International (+10%). This top-line growth translated into significant operating income improvement, up 18% to $957.2 million. Diluted earnings per share (EPS) also saw a substantial increase of 22% to $4.75.

The company's balance sheet remains solid, with a strong cash position and available credit facilities, supporting ongoing operations and strategic initiatives, including share repurchases and dividend payments. The company's strategic focus on expanding its product offerings and market reach appears to be paying off. The U.S. Information Solutions segment, in particular, showed impressive revenue growth of 17%^b, largely fueled by online information solutions and financial marketing services, benefiting from product pricing and diversified market demand.

International operations also demonstrated resilience, with notable growth in Asia Pacific and Latin America. Despite increased interest expenses and a higher effective tax rate compared to the prior year, Equifax has effectively managed its cost of services and SG&A expenses, leading to improved operating margins.

02—Key points

Key Highlights

Total operating revenue increased by 11% to $5.04 billion for the nine months ended September 30, 2026, compared to the same period in 2025.
Operating income grew by 18% to $957.2 million for the nine months ended September 30, 2026, demonstrating strong operational leverage.
Diluted EPS rose by 22% to $4.75 for the nine months ended September 30, 2026, indicating enhanced profitability for shareholders.
The U.S. Information Solutions segment was a key growth driver, with revenue up 17% year-over-year.
International revenue increased by 10% for the nine months ended September 30, 2026, with particularly strong performance in Asia Pacific and Latin America.
The company repurchased $652.0 million of its common stock during the first nine months of 2026, underscoring its commitment to returning capital to shareholders.
Equifax has $1.8 billion available under its revolving credit facility as of September 30, 2026, ensuring strong liquidity.

03—Questions

Frequently Asked Questions

What were the main drivers of Equifax's revenue growth in the first nine months of 2026?
Equifax's revenue growth was driven by strong performance across all three segments: Workforce Solutions (+8%), U.S. Information Solutions (+17%), and International (+10%). The U.S. Information Solutions segment saw significant growth from online information solutions, fueled by mortgage and diversified markets. Workforce Solutions benefited from Verification Services, and International growth was led by Asia Pacific and Latin America.
How did Equifax manage its expenses relative to its revenue growth?
While revenue increased by 11%, total operating expenses grew by 10%. Cost of services saw a notable increase of 16%, primarily due to higher royalty and revenue share costs, and increased people costs in the nine-month period. Selling, general and administrative expenses increased by 3%, impacted by litigation expenses, but partially offset by lower people costs. Despite rising expenses, the company's revenue growth outpaced expense growth, leading to improved operating income and margins.
What is the current liquidity position and how does Equifax manage its debt?
Equifax maintains a strong liquidity position with $192.9 million in cash and cash equivalents and $1.8 billion available under its revolving credit facility as of September 30, 2026. The company issued $1 billion in senior notes in July 2026, increasing its total debt. Approximately 97% of its debt is fixed-rate. Equifax was in compliance with all its debt covenants as of September 30, 2026.
Are there any significant legal or regulatory matters that investors should be aware of?
The company is involved in several legal proceedings, including a settlement for inquiry disputes and a preliminary approved settlement for FCRA litigation related to a coding issue, for which accruals have been made. Equifax is also cooperating with a Consumer Financial Protection Bureau (CFPB) investigation into data accuracy and dispute handling within its Workforce Solutions business unit. While the company believes it has valid defenses, these matters carry inherent uncertainties.

04—Continue

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