Equifax trims revenue outlook as management cites AI cost savings

Equifax lowered its full-year revenue guidance midpoint to $6.661 billion as rising mortgage rates weakened its market late in the third quarter, 24/7 Wall St. reported. Management cut the adjusted earnings-per-share midpoint by four cents to $8.50, crediting AI-driven cost efficiencies with largely offsetting margin pressure from weaker mortgage volumes. U.S. Information Solutions mortgage revenue grew 28%, which CEO Mark Begor attributed to market share gains. For the fourth quarter, Equifax forecast revenue of $1.605 billion to $1.635 billion and adjusted earnings per share of $2.07 to $2.17. Management expects the soft mortgage environment to persist through year-end.