Equifax (EFX) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue was $1.649 billion, up 14% year-over-year and $37 million above guidance midpoint, driven by strong U.S. mortgage growth and innovation.

• Net income attributable to shareholders rose 29% to $171.5 million; diluted EPS increased 34% to $1.42, with Adjusted EPS at $1.86, up 22% and $0.18 above guidance.

• EBITDA was $477 million, up 13% year-over-year; Adjusted EBITDA margin was 29.0%, with margin expansion in key segments.

• $327 million was returned to shareholders via $260 million in share repurchases and $67 million in dividends.

• Maintained 2026 guidance due to macro uncertainty from interest rates, geopolitical conflict, and legal matters.

Financial highlights

• EBITDA margin excluding FICO was 31.2%, up 80 bps year-over-year and 110 bps above guidance; reported EBITDA margin was 29%.

• Free cash flow for 2026 expected to exceed $1 billion, with cash conversion over 100%.

• Quarterly dividend increased 12% to $0.56/share.

• Operating income increased 22% to $287.7 million; operating margin improved by 1.1 percentage points to 17.5%.

• Capital expenditures rose to $116.7 million, primarily for technology and software investments.

Outlook and guidance

• Full-year 2026 revenue guidance is $6.685–$6.805 billion (10–12% growth), with Adjusted EPS guidance of $8.34–$8.74.

• Q2 2026 revenue expected between $1.68–$1.71 billion, up 9.3–11.3% year-over-year; Q2 EPS expected at $2.15–$2.25.

• U.S. mortgage revenue expected to grow over 20% for the year; diversified markets revenue up high single digits.

• Guidance reflects uncertainty from interest rates, mortgage activity, and geopolitical conflict.

• 2026 guidance assumes no VantageScore conversion; potential $1B annual savings if adopted.