Equifax shares fell 7.1% after the credit bureau issued full-year guidance that fell short of analyst expectations. The company reported second-quarter revenue of $1.7 billion and earnings of $2.25 per share, beating estimates of just under $1.7 billion and $2.20 per share. However, Equifax forecast third-quarter revenue between $1.68 billion and $1.71 billion and earnings between $2.15 and $2.25 per share, below consensus estimates of $1.71 billion and $2.27 per share. For the full year, the company expects earnings of $8.39 to $8.69 per share on revenue of $6.71 billion to $6.78 billion, compared to analyst projections of $8.60 per share and $6.76 billion. A shrinking mortgage loan market, with 30-year mortgage rates around 6.6%, is a key headwind.
Equifax IncFull-year guidance missed analyst estimates, causing a 7% stock decline.
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