Equifax Q1 Revenue Climbs 14% to $1.65B on 38% Mortgage Surge
Equifax posted record Q1 revenue of $1.65B, up 14% year-over-year, driven by a 38% surge in U.S. mortgage revenue and 13% organic currency growth in Workforce Solutions. EBITDA margins widened 80 basis points, Vitality Index reached a record 17% and free cash flow is projected above $1B with guidance unchanged.
1. Q1 Performance Highlights
Equifax delivered $1.65B in Q1 revenue, up 14% year-over-year, with U.S. mortgage revenue surging 38% and Workforce Solutions achieving 13% organic currency growth. Revenue beat the February guidance midpoint by $37M, fueled by early-quarter mortgage applications and broad execution across business lines.
2. Margin Expansion and Innovation
EBITDA margins widened by 80 basis points through operating leverage, mortgage flow-through and early-stage AI cost productivity improvements. The Vitality Index climbed to a record 17% following the near-complete shift to cloud-native infrastructure, underscoring accelerated product innovation.
3. Guidance and Cash Flow Outlook
Management reaffirmed full-year 2026 guidance, assuming low single-digit declines in mortgage originations and high-single-digit growth in diversified markets. The company projects over $1B in free cash flow, supporting $1.5B of capacity for bolt-on M&A and shareholder returns while noting macroeconomic and rate volatility risks.