Equifax Cuts 2026 Revenue Outlook After Mortgage Slowdown

The Tip Desk · October 22, 2026 · 3 min read

Third-quarter revenue reached $1.693 billion as U.S. Mortgage growth cooled to 15% and the company lowered full-year revenue guidance to a $6.661 billion midpoint.

Equifax (EFX) cut its full-year 2026 reported revenue guidance to a $6.661 billion midpoint after U.S. Mortgage growth cooled in the third quarter, while keeping Diversified Markets revenue guidance at high single-digit percent growth.

The global data, analytics, and technology company said it expects the much weaker U.S. mortgage market seen in the latter half of the third quarter, when mortgage interest rates increased substantially, to continue through the remainder of 2026.

Reported revenue was $1.693 billion, up 10% from a year earlier, with 9% local currency growth. That pace slowed from 11% reported and 10% local currency growth in the second quarter, after 14% reported growth in the first quarter.

U.S. Mortgage revenue growth decelerated to 15% from 25% in the second quarter, after 38% in the first quarter. Chief Executive Officer Mark W. Begor said the company is reducing full-year revenue guidance to reflect lower U.S. Mortgage related revenue.

Diversified Markets revenue rose 8% on a reported basis and 7.5% in local currency, with what the company described as strong, broad-based performances across all business units. Begor attributed that growth in part to a record over 17% new product Vitality Index, above the company’s 10% long-term goal.

Workforce Solutions revenue was $693.9 million, up 7%, matching the second-quarter rate after 10% growth in the first quarter. Verification Services revenue was $603.2 million, up 9%. Employer Services revenue was $90.7 million, down 5%. Diversified Markets in Workforce Solutions rose 9%, led by Talent Solutions growth of more than 20%, high double-digit Consumer Lending growth, and mid-single-digit Government growth. Workforce Solutions Mortgage revenue was about flat. Operating margin was 44.1%.

U.S. Information Solutions revenue was $599.1 million, up 13%, slower than 17% in the second quarter and 21% in the first quarter. Online Information Solutions revenue was $529.7 million, up 13%. Financial Marketing Services revenue was $69.4 million, up 11%. USIS Mortgage revenue was up 28%, after 40% growth in the second quarter and 60% in the first quarter. Operating margin was 24.3%.

International revenue was $399.5 million, up 9% as reported and 7% in local currency, a faster local-currency pace than the 4% recorded in the second quarter. Asia Pacific revenue was $107.7 million, up 20% as reported and 12% in local currency. Latin America revenue was $114.1 million, up 12% as reported and 8% in local currency. Europe revenue was $105.5 million, up 3% as reported. Canada revenue was $72.2 million, up 2% as reported. Operating margin was 15.8%.

Net income attributable to Equifax was $211.7 million, up 32% from $160.2 million a year earlier. Diluted earnings were $1.79 a share, up 39% from $1.29 a share. Adjusted EPS was $2.26, up 11%. Adjusted EBITDA margin was 33.1%.

The company returned $158 million in cash to shareholders in the quarter, including repurchasing 0.5 million shares for $92 million and paying $66 million in quarterly dividends.

Equifax said it expects to deliver 2026 Adjusted EPS guidance of $8.50 a share, a reduction of only $0.04 a share at the midpoint and within the previous range. It said cost management and AI-driven operating efficiencies should allow it to principally recover the gross margin impact from lower Mortgage revenue. Fourth-quarter 2026 reported revenue is guided to $1.605 billion to $1.635 billion, and full-year Adjusted EPS to $8.45 to $8.55 a share.

The company said it expects the Círculo de Crédito acquisition, signed in the second quarter for a $750 million enterprise value, to close in the fourth quarter of 2026.