Equifax Inc. today announced financial results for the quarter ended June 30, 2015.

"Equifax continues to benefit from our unique diversified business model, high levels of execution and new product innovation," said Richard F. Smith, Equifax's Chairman and Chief Executive Officer. "Interest in our Decision 360 solutions is getting stronger as New Product Innovation 2.0 and our Enterprise Growth Initiatives deliver new and compelling insights that help our customers make better decisions. We anticipate a strong performance in 2015 and feel good about the outlook for 2016."

Financial Results Summary

The company reported revenue of $678.1 million in the second quarter of 2015, a 10 percent increase from the second quarter of 2014 on a reported basis and 14 percent in local currency. Diluted EPS attributable to Equifax was $0.92, up 23 percent from the second quarter of 2014. Adjusted EPS attributable to Equifax was $1.15, up 20 percent from the second quarter of 2014, after adjusting for an impairment in our cost method investment, an unanticipated income tax benefit, and acquisition-related amortization expense. Operating margin was 27.8 percent, up 50 points from the second quarter of 2014.  

USIS continues to deliver strong, broad-based growth driven by Decision 360 initiatives, Enterprise Selling and mortgage

• Total revenue was $315.7 million in the second quarter of 2015 compared to $281.1 million in the second quarter of 2014, an increase of 12 percent. Operating margin for USIS was 42.1 percent in the second quarter of 2015 compared to 39.5 percent in the second quarter of 2014. 
• Online Information Solutions revenue was $232.9 million, up 13 percent from the second quarter of 2014. 
• Mortgage Solutions revenue was $33.1 million, up 20 percent from the second quarter of 2014. 
• Financial Marketing Services revenue was $49.7 million, up 4 percent when compared to the second quarter of 2014.

International drove strong, double digit local currency growth primarily through new product innovation and debt management services

• Total revenue was $148.4 million in the second quarter of 2015, a 1 percent decrease from the second quarter of 2014 and an 11 percent increase on a local currency basis. Operating margin for International was 19.9 percent in the second quarter of 2015 compared to 21.9 percent in the second quarter of 2014. 
• Europe revenue was $62.5 million, down 1 percent from the second quarter of 2014 and up 12 percent on a local currency basis. 
• Latin America revenue was $50.9 million, up 6 percent from the second quarter of 2014 and up 18 percent on a local currency basis. 
• Canada revenue was $35.0 million, down 10 percent from the second quarter of 2014 and up 2 percent on a local currency basis. 

Workforce Solutions delivered very strong, double digit growth driven by the Affordable Care Act initiatives and Verification Services

• Total revenue was $146.3 million in the second quarter of 2015, a 23 percent increase from the second quarter of 2014. Operating margin for Workforce Solutions was 38.3 percent in the second quarter of 2015 compared to 33.9 percent in the second quarter of 2014. 
• Verification Services revenue was $94.0 million, up 30 percent when compared to the second quarter of 2014. 
• Employer Services revenue was $52.3 million, up 11 percent when compared to the second quarter of 2014.

Personal Solutions delivered solid growth exceeding the upper end of their target range driven by double digit growth in Indirect and International, in addition to breach activity

• Revenue was $67.7 million, a 7 percent increase from the second quarter of 2014 and up 8 percent on a local currency basis. 
• Operating margin was 27.6 percent compared to 30.9 percent in the second quarter of 2014.

Third Quarter 2015 and Full Year 2015 Outlook

For the third quarter, we expect revenue between $655 and $670 million, or up approximately 10% to 12% over Q3 2014, on a local currency basis. Adjusted EPS, is expected to be between $1.08 and $1.11, up 10% to 13% year-over-year, on a local currency basis.  Foreign exchange is expected to negatively impact revenue growth by 3% and Adjusted EPS by $0.03.

For the full year, based on the current level of domestic and international business activity, we anticipate revenue between $2.645 and $2.670 billion, and Adjusted EPS between $4.38 and $4.42.  Given the recent strength of the US dollar, at current exchange rates, we expect foreign currency to negatively impact 2015 revenue growth by 3%, and Adjusted EPS by approximately $0.10.  On a local currency basis, revenue is expected to grow 11% to 12% in 2015.  On a local currency basis, Adjusted EPS is expected to grow 15% to 16%.