Equifax Inc. (EFX) reported that its fourth-quarter net income attributable to the company was $46.3 million or $0.38 per share, compared to $74.4 million or $0.61 per share in the same quarter last year.
Fourth quarter earnings per share from continuing operations attributable to Equifax was $0.38 as compared to $0.60 in 2011. The company recorded a $24.1 million, after tax, non-cash pension settlement charge related to lump sum buyouts of certain pension plan participants during the fourth quarter.
On a non-GAAP basis, adjusted earnings per share from continuing operations attributable to Equifax, excluding the impact of CSC Credit Services acquisition fees, the pension settlement, certain income tax items and acquisition-related amortization expense, net of tax, was $0.78, up 14 percent from the fourth quarter of 2011. Analysts polled by Thomson Reuters expected the company to report earnings of $0.75 per share for the quarter. Analysts' estimates typically exclude special items.
Operating revenue for the quarter rose to $558.1 million from $509.7 million in the year ago quarter. Twelve analysts had consensus revenue estimate of $556.89 million for the quarter.
The Equifax Board has approved a 22% increase in the quarterly cash dividend, increasing it to $0.22 per share from the previous quarterly dividend of $0.18 per share. The cash dividend is payable on March 15, 2013, to shareholders of record as of the close of business on February 22, 2013.
Consolidated revenue for the first quarter of 2013 is expected to be up 10 to 12 percent from the year-ago quarter. First quarter 2013 adjusted earnings per share attributable to the company is expected to be between $0.84 and $0.87, up 20 to 24 percent from the first quarter of 2012. The outlook for adjusted earnings per share includes a negative impact of approximately $0.01 resulting from the disposition of two business units in the first quarter of 2013.
Analysts expect the company to report earnings of $0.88 per share on revenues of $585.80 million for the first-quarter.
For the full year 2013, revenue from continuing operations is expected to be up 10 to 12 percent and adjusted earnings per share from continuing operations attributable to the company is expected to be between $3.56 and $3.64. Analysts expect the company to report earnings of $3.60 per share on revenues of $2.41 billion for fiscal 2013.
The company said it remain confident in its long term business model, expecting to deliver topline growth of 7% to 10%, attractive and expanding operating margins, and adjusted earnings growth of 10% to 13%.
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