By Rob Curran

Equifax said first-quarter net income rose and the credit-reporting firm forecast more growth ahead, as it ekes out gains in a lackluster mortgage market, helped by demand for workplace reports.

The Atlanta company, which maintains credit reports on millions of U.S. consumers and sells them to lenders, posted earnings of $133.1 million, or $1.06 a share, up from $124.9 million, or a $1 share, a year earlier.

Stripping out one-time items, earnings came in at $1.53 a share, handily beating the average analyst forecast of $1.41 a share, according to FactSet.

Revenue rose 4% to $1.44 billion, edging out the average Wall Street target of $1.42 billion, as per FactSet.

Revenue for work-force applications, now the company's largest category, rose 3% to $618.6 million. U.S. information solutions revenue, which includes the mortgage unit, rose 7% to $499.9 million, despite relatively weak mortgage demand.

For the second quarter, Equifax targeted adjusted earnings in a range between $1.85 and $1.95 a share on revenue in a range between $1.495 billion and $1.525 billion.

For 2025, Equifax continues to expect adjusted earnings in a range between $7.25 and $7.65 a share.

The company still anticipates full-year revenue in a range between $5.91 billion and $6.03 billion, consistent with a prior projection of $5.95 billion.

Equifax also boosted its quarterly dividend by 28% to 50 cents a share, payable June 13 to shareholders of record on May 23. The board also approved a $3 billion share-buyback program, with no expiration date.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

April 22, 2025 07:00 ET (11:00 GMT)

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