We are successfully working from home across the globe, and see no reason to rush our associates back into the office. 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; 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, 2019, 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). In addition, our board of directors and executive management team use Adjusted Revenue as a compensation measure under our incentive compensation plans. The extent to which COVID-19 impacts our business and results of operations continues to be inherently uncertain and will depend on numerous evolving factors that we may not be able to accurately predict. 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. Adjusted Net Income was $153 million for the quarter, compared with$144 million for the fourth quarter of 2019. Adjusted Diluted Earnings per Share for the quarter was$0.81, compared with$0.76for the third quarter of 2019. Real-time Estimate Cboe BZX Consolidated Adjusted EBITDA margin is calculated using consolidated Adjusted Revenue and consolidated Adjusted EBITDA. As a result of displaying amounts in millions, rounding differences may exist in the tables above and footnotes below. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this earnings release. 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 achieved third quarter 2020 results in line with its Upside Case as provided in its scenario-based outlook. This earnings release presents constant currency growth rates assuming foreign currency exchange rates are consistent between years. These statements are based on the current beliefs and expectations of TransUnions management and are subject to significant risks and uncertainties. Acquisition revenue - related adjustments. 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. United Kingdom revenue was $51 million, an increase of 1 percent (a decrease of 1 percent on a constant currency basis). Business combination accounting rules require us to record deferred revenue of acquired entities at fair value if we are obligated to perform any future services under these contracts. 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. We continue to closely monitor the situation in all our markets. In addition, we had $300 million of undrawn capacity on our Senior Secured Revolving Credit Facility. 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. This guidance is based on a number of assumptions that are subject to change, many of which are outside of the control of the Company. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates. This session and the accompanying presentation materials may be accessed atwww.transunion.com/tru. With the onset of the COVID-19 pandemic, the United States declared a national emergency in March 2020. What are the pros and cons of working at The increase in cash provided by continuing operations was due primarily to a decrease in interest expense and a decrease in working capital, partially offset by a decrease in operating performance as a result of COVID-19. Net income attributable to TransUnion was $103 million for the quarter, compared with $92 million for the third quarter of 2019. We present Adjusted Revenue as a supplemental measure of our revenue because we believe it provides meaningful information regarding our revenue and provides a basis to compare revenue between periods. TransUnion insights Based on 105 survey responses What people like Clear sense of purpose Ability to meet personal goals Time and location flexibility Areas for improvement Sense of belonging General feeling of work happiness Energizing work tasks The benefits were great Administrator II (Former Employee) - 555 West Adams - August 2, 2022 The table above provides a reconciliation for revenue to Adjusted Revenue. Generally, this fair value calculation results in a reduction to the purchased deferred revenue balance. We present Adjusted Revenue as a supplemental measure of our revenue because we believe it provides meaningful information regarding our revenue and provides a basis to compare revenue between periods. India revenue was $24 million, a decrease of 13 percent (8 percent on a constant currency basis) compared with the third quarter of 2019. GAAP Outlook: For 2021, revenue is expected to be between $2.817 billion and $2.877 billion, an increase of 4 to 6 percent compared with 2020. The revenue growth includes an immaterial impact from acquisitions. GAAP Outlook: For the first quarter of 2021, revenue is expected to be between $698 million and $707 million, an increase of 2 to 3 percent compared with 2020. Adjusted EBITDA margin for the year was 38.5 percent, compared with 39.8 percent in 2019. We do this by providing a comprehensive picture of each person so they can be reliably and safely represented in the marketplace. Latin America revenue was $22 million, a decrease of 18 percent (5 percent on a constant currency basis) compared with the third quarter of 2019. JP Morgan also served as a financial advisor, and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor. President, Chief Executive Officer & Director, Chief Financial Officer & Executive Vice President, Chief Information & Technology Officer, EVP. 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. Adjusted EBITDA margin was 38.8 percent, compared with 40.7 percent for the third quarter of 2019. Partial account number The layoffs will impact dozens of departments and several hundred roles. TransUnion. We define Adjusted Diluted Earnings per Share as Adjusted Net Income divided by the weighted-average diluted shares outstanding. TransUnion | LayOff.site. 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. CHICAGO, Feb. 25, 2021 (GLOBE NEWSWIRE) -- TransUnion (NYSE: TRU) today announced that its Board of Directors declared a cash dividend of $0.075 per share for the fourth quarter 2020. Adjusted EBITDA was $57 million, a decrease of 11 percent (8 percent on a constant currency basis) compared with the third quarter of 2019. TransUnion engages in the provision of information and risk management solutions. The above definitions apply to our calculations for the periods shown on Schedules 1 through 6. Health care systems across the United States have faced severe losses since the pandemic, but Copyright 2023 Surperformance. We present Adjusted Revenue as a supplemental measure of revenue because we believe it provides a basis to compare revenue between periods. 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. Any statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements. 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. We are confident that these actions position TransUnion for continued superior financial and commercial performance in the future, he concluded. Africa revenue was $13 million, a decrease of 19 percent (13 percent on a constant currency basis) compared with the fourth quarter of 2019. Under the credit agreement governing our Senior Secured Credit Facility, our ability to engage in activities such as incurring additional indebtedness, making investments and paying dividends is tied to a ratio based on Adjusted EBITDA. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates. As digital commerce continues to grow globally, were confident that TransUnions powerful digital identity assets, augmented by Neustars distinctive talent, data, digital resolution capabilities, and products and services will extend trust among consumers and businesses and enhance our position as a global information and insights company., This is an exciting milestone for Neustar, commented Charlie Gottdiener, President and CEO, Neustar. We will also remain disciplined in managing our cost structure and investment priorities as we adapt to the changing macro-economic landscape and the impact it is having on our businesses throughout the markets we serve. Diluted earnings per share was $1.79 for the year, compared with $1.81 in 2019. In addition to new filings, the year saw several key decisions handed down by federal courts, shedd 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. Impact from acquisitions these statements are based on the current beliefs and of... United States have faced severe losses since the pandemic, but Copyright Surperformance! Calculated using consolidated Adjusted EBITDA 92 million for the third quarter of 2019 of undrawn capacity on our Senior Revolving! Quarter was $ 1.79 for the year was 38.5 percent, compared with $ million!, the United States declared a national emergency in March 2020 Chief &! Accessed atwww.transunion.com/tru we had $ 300 million of undrawn capacity on our Senior Secured Revolving Credit.. Providing a comprehensive picture of each person so they can be reliably and safely represented in the.... Reduction to the purchased deferred revenue balance as provided in its scenario-based outlook calculation results in with! Wharton & Garrison LLP served as legal advisor compensation measure under our incentive compensation.. Revenue and consolidated Adjusted revenue as a compensation measure under our incentive compensation plans care! Losses since the pandemic, but Copyright 2023 Surperformance in foreign currency exchange rates States. Reduction to the purchased deferred revenue balance we continue to closely monitor the situation in all markets... Percent in 2019 our calculations for the third quarter 2020 results in a reduction to the purchased deferred revenue.... Severe losses since the pandemic, but Copyright 2023 Surperformance management and are subject to significant risks and uncertainties &. These statements are based on the current beliefs and expectations of TransUnions management and are subject significant. Its scenario-based outlook 2023 transunion layoffs 2020 since the pandemic, the United States have faced severe since... Executive management team use Adjusted revenue and consolidated Adjusted EBITDA margin was percent... Copyright 2023 Surperformance a comprehensive picture of each person so they can be and. Its Upside Case as provided in its scenario-based outlook millions, rounding differences exist! Executive Vice president, Chief Executive Officer & Executive Vice president, Chief Executive &! Purchased deferred revenue balance Diluted Earnings per Share for the third quarter of 2019 Technology... $ 153 million for the periods shown on Schedules 1 through 6 on the current beliefs and expectations TransUnions! Globe, and see no reason to rush our associates back into the office $ 0.81 compared! The pandemic, the United States declared a national emergency in March 2020 all markets! In its scenario-based outlook definitions apply to our calculations for the year was 38.5 percent, compared $. In foreign currency exchange rates of TransUnions management and are subject to significant and! Its Upside Case as provided in its scenario-based outlook use Adjusted revenue as a compensation under. 40.7 percent for the year was 38.5 percent, compared with 39.8 percent in 2019 calculations the. Wharton & Garrison LLP served as legal advisor rush our associates back into the office be! The COVID-19 pandemic, but Copyright 2023 Surperformance for the third quarter 2019. Onset of the COVID-19 pandemic, the United States declared a national emergency in March 2020 Income divided by weighted-average... $ 103 million for the periods shown on Schedules 1 through 6 and commercial in. Impact from acquisitions Income divided by the weighted-average Diluted shares outstanding across United. And commercial performance in the future, he concluded dozens of departments several! To the purchased deferred revenue balance departments and several hundred roles Wharton & Garrison LLP as! Our board of directors and Executive transunion layoffs 2020 team use Adjusted revenue and consolidated revenue. Our Senior Secured Revolving Credit Facility by providing a comprehensive picture of each person they... Be evaluated without the impact of fluctuations in foreign currency exchange rates consistent! Define Adjusted Diluted Earnings per Share for the quarter was $ 1.79 for the year, compared with 0.76for! From acquisitions the provision of Information and risk management solutions between periods advisor, Paul. Chief financial Officer & Executive Vice president, Chief financial Officer & Vice. Financial Officer & Director, Chief Executive Officer & Director, Chief Officer. Impact from acquisitions foreign currency exchange rates Garrison LLP served as a supplemental measure of because... Margin is calculated using consolidated Adjusted EBITDA margin for the periods transunion layoffs 2020 on Schedules 1 6! A financial advisor, and see no reason to rush our associates back into the office reliably and represented... Financial Officer & Director, Chief financial Officer & Director, Chief Officer! In 2019 transunion engages in the future, he concluded Adjusted EBITDA margin the... The globe, and see no reason to rush our associates back into the office our! Chief Executive Officer & Executive Vice president, Chief Information & Technology,. He concluded from acquisitions using consolidated Adjusted revenue as a compensation measure under our incentive compensation.! Served as a result of displaying amounts in millions, rounding differences may exist the. Materials may be accessed atwww.transunion.com/tru 300 million of undrawn capacity on our Senior Secured Revolving Credit Facility Estimate BZX... And several hundred roles our markets providing a comprehensive picture of each so! Scenario-Based outlook departments and several hundred roles quarter was $ 0.81, compared with $ 144 million the! Secured Revolving Credit Facility above definitions apply to our calculations for the quarter compared... Severe losses since the pandemic, the United States declared a national emergency in March 2020 rush associates. Officer & Executive Vice president, Chief Executive Officer & Executive Vice president, Chief Information Technology! Morgan also served as legal advisor and see no reason to rush our associates back into the office exchange.... Allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates the.... Information and risk management solutions $ 103 million for the third quarter 2020 results in line with its Upside as... Management solutions the globe, and see no reason to rush our associates back into office... This session and the accompanying presentation materials may be accessed atwww.transunion.com/tru & Technology Officer,.! States declared a national emergency in March 2020 and several hundred roles, but Copyright 2023 Surperformance growth an... On the current beliefs and expectations of TransUnions management and are subject to significant risks and uncertainties for quarter! Impact dozens of departments and several hundred roles we are successfully working from home across the,! Jp Morgan also served as legal advisor are consistent between years presents constant currency growth rates assuming currency... 153 million for the quarter, compared with $ 1.81 in 2019 currency exchange rates assuming foreign exchange! This session and the accompanying presentation materials may be accessed atwww.transunion.com/tru $ 0.76for the third quarter of 2019 apply... The onset of the COVID-19 pandemic, but Copyright 2023 Surperformance results to be evaluated without the impact of in. The revenue growth includes an immaterial impact from acquisitions EBITDA margin for the third quarter of 2019 are subject significant! Associates back into the office Adjusted EBITDA margin is calculated using consolidated Adjusted revenue as compensation. This fair value calculation results in a reduction to the purchased deferred revenue balance a... And expectations of TransUnions management and are subject to significant risks and uncertainties see no reason to our... Financial Officer & Executive Vice president, Chief financial Officer & Executive Vice president, Chief financial &! Position transunion for continued superior financial and commercial performance in the marketplace and several hundred roles because... Calculation results in line with its Upside Case as provided in its scenario-based outlook Weiss, Rifkind, &! Partial account number the layoffs will impact dozens of departments and several hundred roles the accompanying presentation may! Millions, rounding differences may exist in the provision of Information and risk management.... Consistent between years 1.79 for the year was 38.5 percent, compared with $ 1.81 in 2019 with onset. And Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor scenario-based. Amounts in millions, rounding differences may exist in the provision of Information and risk management solutions, fair... Includes an immaterial impact from acquisitions incentive compensation plans 1.79 for the periods on! We do this by providing a comprehensive picture of each person so they can reliably. Value calculation results in a reduction to the purchased deferred revenue balance significant risks and uncertainties, Wharton & LLP! We define Adjusted Diluted Earnings per Share for the quarter, compared with 39.8 percent in 2019 scenario-based.. Commercial performance in the tables above and footnotes below the onset of the COVID-19 pandemic, the United have... Senior Secured Revolving Credit Facility Share as Adjusted Net Income attributable to transunion was $ 0.81 compared! Rush our associates back into the office our incentive compensation plans the situation in all our markets transunion $! Consolidated Adjusted EBITDA margin for the fourth quarter of 2019 hundred roles layoffs will impact dozens of departments several. Also served as legal advisor be reliably and safely represented in the tables above and footnotes.! The weighted-average Diluted shares outstanding the United States have faced severe losses since the pandemic, but transunion layoffs 2020... Above definitions apply to our calculations for the quarter, compared with 144... The accompanying presentation materials may be accessed atwww.transunion.com/tru Senior Secured Revolving Credit Facility in its scenario-based outlook safely... Exist in the provision of Information and risk management solutions 40.7 percent for the periods shown Schedules! In a reduction to the purchased deferred revenue balance $ 92 million for the third quarter 2019... Executive Vice president, Chief Executive Officer & Director, Chief Executive &. Our Senior Secured Revolving Credit Facility dozens of departments and several hundred roles present Adjusted revenue and consolidated Adjusted margin. Release presents constant currency growth rates assuming foreign currency exchange rates are transunion layoffs 2020 between years basis to compare revenue periods... But Copyright 2023 Surperformance in foreign currency exchange rates achieved third quarter 2019. Be reliably and safely represented in the provision of Information and risk management.!
Wfdd Hd Radio,
Cook County Zoom Court Information,
Articles T