U.S. Markets revenue was $431 million, an increase of 4 percent (3 percent on an organic basis) compared with the fourth quarter of 2019. Financial Services revenue was $249 million, an increase of 11 percent (11 percent on an organic basis) compared with the third quarter of 2019. We do this by providing an actionablepicture of each person so they can be reliably represented in the marketplace. The layoffs will impact dozens of departments and several hundred roles. Determine which accounts you're most likely to collect from and apply strategies to collect more efficiently, Fight fraud more efficiently at the onset with TransUnion Fraud Detections and Prevention solutions, With TransUnion's ID Verification solutions, you'll know with whom you're engaging - before fraud occurs, TransUnion is your resource for guidance on growing your business through customer engagement, Gain agility in your decision-making process through our powerful analytics, Equip your organization with a plan to respond to a data breach or fraud event quickly and effectively, Improve the patient financial experience, streamline workflows and increase point-of-service collections, Capture hard-to-reach revenue to maximize reimbursements and improve your bottom line, Replace traditional credit applications and deliver an intuitive, consumer-friendly digital workflow, Best-in-class tools for driving profits throughout the entire resident journey, Get direct access to credit and non-credit data to create the right product suite for customers, Provide valuable credit education to your customersand gain a competitive edge, Gain a more complete view of consumers and their credit histories through greatly expanded information, Turn insights into smarter, more targeted and more actionable decisions, IDVision is a robust suite of solutions that enables you to make faster, more accurate decisions, Identify hard-to-find health insurance coverage to maximize reimbursements, Increase point-of-service collections and improve staff productivity with accurate patient payment estimates, A transformational analytics environment that puts the power of our deep data at your fingertips, Avoid skips, evictions and other bad resident outcomes within the multi-family market, Identify potential rate evasion before it impacts your book, Get a 360 view of people and businesses with one streamlined investigative risk-management tool, Access strategic auto finance solutions to find likely buyers, make loans more competitive and lower your risk, Foster greater investor confidence by analyzing and optimizing loan portfolios, Access tools and strategies to locate the right individuals and businesses for more efficient collections, Target and engage new prospects, generate valuable, new insights, and enhance the customer experience, Expand your credit unions lending and risk capabilities with a trusted partner, Powerful tools to optimize efficiency, minimize risk and gain deeper consumer insights for better decisioning, Be at the forefront of lending innovation by turning data into action. Cash used in financing activities was $297 million compared with $487 million in 2019. Adjusted EBITDA is also a measure frequently used by securities analysts, investors and other interested parties in their evaluation of the operating performance of companies similar to ours. Adjusted EBITDA is expected to be between $1.031 billion and $1.047 billion, a decrease of 1 to 3 percent. Actual results may differ materially from those described in the forward-looking statements. TransUnions TLOxpskip tracing, investigative research and risk management. Availability of Information on TransUnions Website. The decrease in cash used in investing activities was due primarily to a decrease in proceeds from the disposal of discontinued operations, partially offset by a decrease in cash used for acquisitions and purchases of noncontrolling interests. Eliminates impact of state tax rate changes on deferred taxes, valuation allowances on foreign net operating losses and valuation allowances on capital losses and other discrete adjustments. TransUnion Market Cap $12B Today's Change (-2.54%) -$1.57 Current Price $60.16 Price as of November 28, 2022, 4:00 p.m. TransUnion ( TRU -5.61%) Q3 2020 Earnings Call Oct 27, 2020, 9:30 a.m. This earnings release also presents Adjusted Revenue, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Effective Tax Rate, Adjusted Net Income (Loss) and Adjusted Diluted Earnings per Share for all periods presented. TransUnion (NYSE: TRU) and Neustar Inc. (Neustar), today announced that TransUnion has completed its $3.1 billion acquisition of Neustar from a private investment group led by Golden As a result of displaying amounts in millions, rounding differences may exist in the table above. Dane Mauldin Executive Vice President, Chief Operations Officer Susan Muigai Executive Vice President, Chief Human Resources Officer Heather Russell Executive Vice President, Chief Legal Officer Steve Sassaman Executive Vice President, Chief Commercial Officer Todd Skinner President, International investor.relations@transunion.com Adjusted EBITDA margin was 38.8 percent, compared with 40.7 percent for the third quarter of 2019. Consolidated Adjusted EBITDA margin is calculated using consolidated Adjusted Revenue and consolidated Adjusted EBITDA. Diluted earnings per share was $1.79 for the year, compared with $1.81 in 2019. Africa revenue was $13 million, a decrease of 19 percent (13 percent on a constant currency basis) compared with the fourth quarter of 2019. Over the course of the year, TransUnion associates around the world remained focused on serving our customers, consumers and communities as we all dealt with the pandemic, leading to strengthened relationships and the ability to generate revenue growth at attractive margins in the face of economic weakness.. These statements often include words such as anticipate, expect, guidance, suggest, plan, believe, intend, estimate, target, project, should, could, would, may, will, forecast, outlook, potential, continues, seeks, predicts, or the negative of these words and other similar expressions. A replay of the call will also be available at this website following the conclusion of the call. Diluted earnings per share is expected to be between $1.93 and $2.09, an increase of 8 to 17 percent. The revenue growth includes an approximate 1 percent of growth from acquisitions and 1 percent of headwind from foreign exchange rates. The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. Target your marketing efforts more precisely to drive growth. Adjusted EBITDA was $65 million, a decrease of 6 percent (4 percent on a constant currency basis) compared with the fourth quarter of 2019. As a result of displaying amounts in millions, rounding differences may exist in the table above. Serious delinquency rates increased slightly by 15 basis points (bps) in Q4 2020 on a quarterly basis, though remained 78 bps lower than Q4 2019. Net income attributable to TransUnion was $103 million for the quarter, compared with $92 million for the third quarter of 2019. Beginning in the third quarter of 2019, we no longer have these adjustments to revenue. GAAP Outlook: For the fourth quarter of 2020, revenue is expected to be between $678 million and $698 million, a decrease of 1 percent to an increase of 2 percent compared with 2019. A replay of the call will also be available at this website following the conclusion of the call. Constant Currency (CC) growth rates assume foreign currency exchange rates are consistent between years. Tax rates used to calculate the tax expense impact are based on the nature of each item. We are confident that these actions position TransUnion for continued superior financial and commercial performance in the future, he concluded. Marketing Offers Opt-Out Learn how to remove your name from prescreen mailing lists obtained from the major credit card reporting companies. Neustar is an information services and technology company and a leader in identity resolution providing the data and technology that enable trusted connections between companies and people at the moments that matter most. Neustar serves more than 8,000 clients worldwide, including 60 of the Fortune 100. Accelerated investments in Global Solutions and Global Operations, acquired Tru Optik, prepaid $150 million of debt and delivered on critical milestones for Project Rise. Golden Gate Capital is a San Francisco-based private equity investment firm with over $19 billion in cumulative committed capital. Business performance continues to benefit from re For the three months ended September 30, 2020, consisted of the following adjustments: $1.5 million of acquisition expenses. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are presented in the attached Schedules. Total revenue for the quarter was $699 million, an increase of 2 percent (2 percent on a constant currency basis, 1 percent on an organic constant currency basis) compared with the fourth quarter of 2019. This earnings release also presents organic constant currency growth rates, which assumes consistent foreign currency exchange rates between years and also eliminates the impact of our recent acquisitions. The decrease in cash provided by continuing operations was due to a decrease in operating performance and a smaller increase in working capital compared to 2019 as a result of COVID-19, partially offset by lower interest expense. Adjusted Net Income was $153 million for the quarter, compared with$144 million for the fourth quarter of 2019. sefton park concert 2021; baby bunting patagonia; venta de hurones precios; transunion layoffs 2020 The revenue growth includes slightly less than 1 percent of benefit from acquisitions and slightly less than 1 percent of benefit from foreign exchange rates. These statements often include words such as anticipate, expect, guidance, suggest, plan, believe, intend, estimate, target, project, should, could, would, may, will, forecast, outlook, potential, continues, seeks, predicts, or the negative of these words and other similar expressions. We define Adjusted Diluted Earnings per Share as Adjusted Net Income divided by the weighted-average diluted shares outstanding. This increase is partially offset by an estimated decrease to revenue for certain acquired non-core customer contracts that are not classified as discontinued operations that will expire within approximately one year from the date of acquisition. We define Adjusted Diluted Earnings per Share as Adjusted Net Income divided by the weighted-average diluted shares outstanding. JP Morgan also served as a financial advisor, and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor. Cash and cash equivalents were $554 million at September30, 2020 and $274 million at December31, 2019. Our long-term approach, multi-asset capabilities, and global connectivity enable us to be an investor of choice. There can be no assurance that the Company will achieve the results expressed by this guidance. Segment Adjusted EBITDA margins are calculated using segment gross Adjusted Revenue and segment Adjusted EBITDA. Many of these factors are beyond our control. Capital expenditures were $132 million in both periods. Continuously monitor your risk, improve decisions, take action and increase profitability. Better predict cash flow, maximize reimbursements & deliver a more efficient, stress-free patient experience. Canada revenue was $28 million, an increase of 2 percent (3 percent on a constant currency basis) compared with the third quarter of 2019. Factors that could cause actual results to differ materially from those described in the forward-looking statements include: the effects of the COVID-19 pandemic; the timing of the recovery from the COVID-19 pandemic; the duration of the COVID-19 pandemic and the timing of the recovery from the COVID-19 pandemic; macroeconomic and industry trends and adverse developments in the debt, consumer credit and financial services markets; our ability to provide competitive services and prices; our ability to retain or renew existing agreements with large or long-term customers; our ability to maintain the security and integrity of our data; our ability to deliver services timely without interruption; our ability to maintain our access to data sources; government regulation and changes in the regulatory environment; litigation or regulatory proceedings; regulatory oversight of critical activities; our ability to effectively manage our costs; economic and political stability in the United States and international markets where we operate; our ability to effectively develop and maintain strategic alliances and joint ventures; our ability to timely develop new services and the markets willingness to adopt our new services; our ability to manage and expand our operations and keep up with rapidly changing technologies; our ability to make acquisitions, successfully integrate the operations of acquired businesses and realize the intended benefits of such acquisitions; our ability to protect and enforce our intellectual property, trade secrets and other forms of unpatented intellectual property; our ability to defend our intellectual property from infringement claims by third parties; the ability of our outside service providers and key vendors to fulfill their obligations to us; further consolidation in our end-customer markets; the increased availability of free or inexpensive consumer information; losses against which we do not insure; our ability to make timely payments of principal and interest on our indebtedness; our ability to satisfy covenants in the agreements governing our indebtedness; our ability to maintain our liquidity; share repurchase plans; our reliance on key management personnel; and other one-time events and other factors that can be found in our Annual Report on Form 10-K for the year ended December 31, 2020, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, which are filed with the Securities and Exchange Commission and are available on TransUnions website (www.transunion.com/tru) and on the Securities and Exchange Commissions website (www.sec.gov). Organic growth rate is the reported growth rate less the inorganic growth rate. Beginning in the third quarter of 2019, we no longer have these adjustments to revenue. With the onset of the COVID-19 pandemic, the United States declared a national emergency in March 2020. 2020 will be a good year for consumer credit, TransUnion's researchers predict. Adjusted Diluted Earnings per Share is expected to be between $2.94 and $3.01, an increase of 5 to 8 percent. The table above provides a reconciliation for revenue to Adjusted Revenue. Total adjustments before income tax items from schedule 3, Noncontrolling interest portion of Adjusted Net Income adjustments, Eliminate impact of excess tax benefits for share compensation. We remain acutely focused on the welfare of our associates and communities while also providing outstanding service and solutions for our customers around the world., We continue to invest in Global Operations, Global Solutions and Project Rise to drive further growth and efficiencies in our business. The revenue growth rates include approximately 1 percent of headwind from foreign exchange rates. This earnings release presents constant currency growth rates assuming foreign currency exchange rates are consistent between years. India revenue was $28 million, a decrease of 2 percent (an increase of 2 percent on a constant currency basis) compared with the fourth quarter of 2019. Eliminates the impact of excess tax benefits for share compensation. A leading presence in more than 30 countries across five continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people. Sidley Austin served as legal advisor to GIC. A company that has been tracking tech company layoffs since 2020 says more than 1,600 workers in the industry have been laid off a day in 2023, on average. The WARN notice requires companies laying off more than 100 employees with six months of service to publicly list layoffs. Financial Services revenue was $238 million, an increase of 7 percent compared with the fourth quarter of 2019. We seek to add meaningful value to our investments. Cover the complete customer acquisition cycle. TransUnion company profile. The combination of TransUnions powerful digital identity assets and Neustars distinctive data and identity resolution capabilities presents enormous opportunities ahead.. These statements often include words such as anticipate, expect, guidance, suggest, plan, believe, intend, estimate, target, project, should, could, would, may, will, forecast, outlook, potential, continues, seeks, predicts, or the negative of these words and other similar expressions. We call this Information for Good. Consumer Interactive revenue was $132 million, an increase of 3 percent compared with the third quarter of 2019. Delivered another quarter of revenue growth with an attractive margin, and benefited from marketplace success as well as continued economic recovery in most markets. Adjusted Net Income was $156 million for the quarter, compared with$146 million for the third quarter of 2019. TransUnion is a global information and insights company that makes trust possible in the modern economy. We are successfully working from home across the globe, and see no reason to rush our associates back into the office. Evercore served as lead financial advisor to Golden Gate Capital and GIC. TransUnion is a global information and insights company that makes trust possible in the modern economy. Any statements made in this earnings release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements. Adjusted Outlook: For 2021, Adjusted EBITDA is expected to be between $1.083 billion and $1.121 billion, an increase of 4 to 7 percent compared with 2020. Solutions that facilitate global commerce by enabling secure online transactions are in great demand in todays growing digital economy. We are reinstating guidance for the fourth quarter and full year 2020. Better predict cash flow, maximize reimbursements & deliver a more efficient, stress-free patient experience. We define Adjusted Net Income as net income (loss) attributable to TransUnion plus (less) loss (gain) from discontinued operations, plus (less) the revenue adjustments included in Adjusted Revenue, plus stock-based compensation, plus mergers, acquisitions, divestitures and business optimization-related expenses including Callcredit integration-related expenses, plus certain accelerated technology investment expenses, plus (less) certain other expenses (income), plus amortization of certain intangible assets, plus or minus the related changes in provision for income taxes. TransUnion | LayOff.site. TransUnion Should Be Able to Increase Revenue Even Amid Sector Headwinds, Morgan Stanle.. Stellex Capital Management LLC Acquires G2, LCI, and Fintellix. As of December31, 2020 and December31, 2019, there were 1.3 million and 1.1million contingently-issuable performance-based stock awards outstanding that were excluded from the diluted earnings per share calculation, respectively, because the contingencies had not been met. A leading presence in more than 30 countries across 5 continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people. Healthcare) Nov 18 TransUnion Presentation at J.P. Morgan Ultimate Services Investor Conference Chris Cartwright, CEO; For the three months ended September 30, 2020, consisted of the following adjustments: $4.2 million for certain legal expenses; $0.4 million of loan fees; a $(0.8) million gain from currency remeasurement of our foreign operations; a $(0.9) million recovery from the Fraud Incident (as defined in our Annual Report on Form 10-K for the year ended December 31, 2019), net of additional administration expenses; and $(0.3) million other. Generally, this fair value calculation results in a reduction to the purchased deferred revenue balance. This earnings release also presents organic constant currency growth rates, which assumes consistent foreign currency exchange rates between years and also eliminates the impact of our recent acquisitions. United Kingdom revenue was $51 million, an increase of 1 percent (a decrease of 1 percent on a constant currency basis). For the three months ended December 31, 2020, consisted of the following adjustments: an $(8.1) million remeasurement gain on notes receivable that were converted into equity upon acquisition and consolidation of an entity; $3.5 million of acquisition expenses; and $1.3 million of adjustments to contingent consideration expense from previous acquisitions.For the twelve months ended December 31, 2020, consisted of the following adjustments: $8.3 million of acquisition expenses; $7.5 million of Callcredit integration costs; a $4.8 million loss on the impairment of a Cost Method investment; $1.6 million of adjustments to contingent consideration expense from previous acquisitions; an $(8.1) million remeasurement gain on notes receivable that were converted into equity upon acquisition and consolidation of an entity; a $(2.5) million gain on a Cost Method investment resulting from an observable price change for a similar investment of the same issuer; a $(1.8) million gain on the disposal of assets of a small business in our United Kingdom region; and a $(0.1) million reimbursement for transition services provided to the buyers of certain of our discontinued operations.For the three months ended December 31, 2019, consisted of the following adjustments: $5.3 million of Callcredit integration costs; a $1.7 million loss on assets of a small business in our United Kingdom region that are classified as held-for-sale; a $1.4 million loss on the impairment of a Cost Method investment; a $0.6 million adjustment to contingent consideration expense from previous acquisitions; $0.5 million of acquisition expenses; and a $(0.1) million reimbursement for transition services provided to the buyers of certain of our discontinued operations.For the twelve months ended December 31, 2019, consisted of the following adjustments: a $(31.2) million gain on a Cost Method investment resulting from an observable price change for a similar investment of the same issuer; a $(0.5) million reimbursement for transition services provided to the buyers of certain of our discontinued operations; $15.8 million of Callcredit integration costs; a $10.0 million loss on the impairment of certain Cost Method investments; a $3.7 million loss on assets of a small business in our United Kingdom region that are classified as held-for-sale; $2.6 million of acquisition expense; and a $1.2 million adjustment to contingent consideration expense from previous acquisitions. Consisted of amortization of intangible assets from our 2012 change in control transaction and amortization of intangible assets established in business acquisitions after our 2012 change in control transaction. The fair value of this deferred revenue is determined based on the direct and indirect incremental costs of fulfilling our performance obligations under these contracts, plus a normal profit margin. Access over 100 billion public and proprietary data points in a free trial. Messages relating to layoffs at TransUnion are presented below the company info. India revenue was $24 million, a decrease of 13 percent (8 percent on a constant currency basis) compared with the third quarter of 2019. These adjustments include the same adjustments we make to our Adjusted Revenue, Adjusted EBITDA and Adjusted Net Income as discussed in the Non-GAAP Financial Measures section of our Earnings Release. Notable software and technology enabled services investments sponsored by Golden Gate Capital include Infor, BMC Software, LiveVox, Vector Solutions, Ex Libris, 2020 Technologies and Ensemble Health Partners. Organic CC growth rate is the CC growth rate less inorganic growth rate. Adjusted EBITDA was $162 million, a decrease of 2 percent (1 percent on an organic basis) compared with the fourth quarter of 2019. International revenue was $160 million, a decrease of 4 percent (2 percent on a constant currency basis) compared with the fourth quarter of 2019. These are important financial measures for the Company but are not financial measures as defined by GAAP. Actual results may differ materially from those described in the forward-looking statements. Improve policy pricing and underwriting decisions, identify potential fraud and gain consumer insights, Comprehensive identity and people-based marketing solutions to enable addressable interactions, Build a Better Understanding of Homebuyers, Expert solutions designed to help you manage processes across the entire resident quality management lifecycle, Make informed decisions with superior data assets, analytics and the insights to combat fraud, waste and abuse, Provide smooth customer experiences while effectively detecting potential fraudulent activity, Assess consumers' ability to repay and grow your business. TransUnion achieved third quarter 2020 results in line with its Upside Case as provided in its scenario-based outlook. We define Adjusted Revenue as GAAP revenue adjusted for certain acquisition-related deferred revenue and non-core contract-related revenue as further discussed in the footnotes of the attached Schedules 1, 2, and 3. The forward-looking statements contained in this press release speak only as of the date of this press release. Excluding the impact of the revenue from the divestment of assets held for sale, revenue would have decreased 4 percent (8 percent on a constant currency basis) compared with the third quarter of 2019. These statements are based on the current beliefs and expectations of TransUnions management and are subject to significant risks and uncertainties. Because of these limitations, these non-GAAP financial measures should not be considered in isolation or as substitutes for performance measures calculated in accordance with GAAP, including operating income, operating margin, effective tax rate, net income (loss) attributable to the Company, earnings per share or cash provided by operating activities. SCHEDULE 4TRANSUNION AND SUBSIDIARIESEffective Tax Rate and Adjusted Effective Tax Rate (Unaudited)(dollars in millions), SCHEDULE 5TRANSUNION AND SUBSIDIARIESSegment Depreciation and Amortization (Unaudited)(in millions), SCHEDULE 6TRANSUNION AND SUBSIDIARIESReconciliation of Non-GAAP Guidance (Unaudited)(in millions). Adjusted Revenue for the year was also $2.717 billion, an increase of 2 percent (3 percent on a constant currency basis, 2 percent on an organic constant currency basis). Other companies in our industry may define or calculate these measures differently than we do, limiting their usefulness as comparative measures. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are presented in the attached Schedules. Adjusted EBITDA was $177 million, a decrease of 2 percent (2 percent on an organic basis) compared with the third quarter of 2019. International revenue was $145 million, a decrease of 9 percent (7 percent on a constant currency basis) compared with the third quarter of 2019. This adjustment represents certain non-cash adjustments related to acquired entities, predominantly adjustments to increase revenue resulting from purchase accounting reductions to deferred revenue we record on the opening balance sheets of acquired entities. Read more about tech layoffs, here. All rights reserved. Eliminates the impact of excess tax benefits for share compensation. E-mail:Investor.Relations@transunion.com, Consolidated Statements of Income (Unaudited). In conjunction with this release, TransUnion will host a conference call and webcast today at 8:30 a.m. Central Time to discuss the business results for the quarter and certain forward-looking information. warning symbol black and white copy and paste. Adjustments to revenue by GAAP growth rate is the reported growth rate less inorganic growth rate at website... 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