Equifax trims 2026 revenue outlook on weaker mortgage market after third-quarter sales rise 10%

Equifax grew third-quarter revenue 10%, but the data and analytics company warned that a sharp slowdown in U.S. mortgage activity late in the quarter will drag on the rest of 2026.

Revenue rose to $1,692.5 million from $1,544.9 million a year earlier, and was up 9% in local currency, Equifax said Tuesday in its earnings release filed with an 8-K. Net income attributable to Equifax rose 32% to $211.7 million, or $1.79 a diluted share, from $160.2 million, or $1.29.

Adjusted earnings were $2.26 a share, up 11% from $2.04. The adjusted EBITDA margin widened to 33.1% from 32.7%.

Guidance comes down

Equifax lowered its full-year revenue outlook to $6.646 billion to $6.676 billion, cutting the midpoint to $6.661 billion to reflect lower U.S. mortgage-related revenue. It set full-year adjusted EPS guidance at $8.45 to $8.55 a share.

"We expect the much weaker U.S. mortgage market that we saw in the latter half of the third quarter to continue through the remainder of 2026," CEO Mark Begor said in the release. He said the $8.50 adjusted EPS midpoint is "a reduction of only $0.04 per share" from the prior midpoint, and that cost management and AI-driven efficiencies should help offset the margin hit from lower mortgage revenue.

For the fourth quarter, Equifax expects revenue of $1.605 billion to $1.635 billion and adjusted EPS of $2.07 to $2.17.

Where the growth came from

Despite the late-quarter slowdown, U.S. mortgage revenue rose 15% in the third quarter. Diversified Markets revenue increased 8%, and Equifax maintained its guidance for high single-digit growth in that business. The company said new products delivered a record Vitality Index of more than 17%, above its 10% long-term goal.

The USIS unit was the fastest grower, with revenue up 13% to $599.1 million. USIS mortgage revenue rose 28%.

Workforce Solutions revenue rose 7% to $693.9 million. Verification Services climbed 9% to $603.2 million, while Employer Services slipped 5% to $90.7 million and the unit's mortgage revenue was about flat.

International revenue increased 9% to $399.5 million, or 7% in local currency. Equifax said it expects its acquisition of Círculo de Crédito to close in the fourth quarter.

Cash returned

Equifax returned $158 million to shareholders in the quarter, repurchasing 0.5 million shares for $92 million and paying $66 million in dividends.

By the numbers

• Revenue: $1,692.5 million, up 10%
• Diluted EPS: $1.79, vs. $1.29
• Adjusted EPS: $2.26, vs. $2.04
• U.S. mortgage revenue: up 15%
• 2026 revenue guidance: $6.646 billion to $6.676 billion
• 2026 adjusted EPS guidance: $8.45 to $8.55

Sources

1. Equifax Inc., Form 8-K (Item 2.02) with Exhibit 99.1 earnings release for the third quarter of 2026, filed Oct. 20, 2026, accession 0000033185-26-000037

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