TransUnion reports mixed Q3 results, Q4 guidance trails estimates

NEW YORK - TransUnion (NYSE:TRU ) reported third quarter earnings that beat expectations, but provided fourth quarter guidance below analyst estimates, sending shares 0.26% lower in premarket trading Wednesday.

The credit reporting company posted adjusted earnings per share of $1.04, exceeding the consensus forecast of $1.01. Revenue grew 12% year-over-year to $1.09 billion, also topping Wall Street's projection of $1.06 billion.

However, TransUnion's fourth quarter earnings guidance of $0.92-$0.98 per share fell short of analysts' $0.97 estimate at the midpoint.

"In the third quarter, TransUnion exceeded financial guidance, driven by mortgage strength, improving non-mortgage financial services, accelerating insurance growth and large breach remediation wins," said CEO Chris Cartwright.

The company raised its full-year 2024 revenue growth outlook to 9%, up from its previous forecast, citing third quarter outperformance and stronger mortgage volumes.

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Source: Investing.com