TransUnion is a large American company that provides credit information and information management services to over 45,000 businesses and over 500 Cash and cash equivalents were $493 million at December31, 2020 and $274 million at December31, 2019. For the twelve months ended December 31, 2020, cash provided by continuing operations was $787 million compared with $784 million in 2019. 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; the duration of the COVID-19 pandemic and 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, 2020, 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). There can be no assurance that the Company will achieve the results expressed by this guidance. Our guidance is based on a number of assumptions that are subject to change, many of which are outside of the control of the Company. Excluding the impact of the revenue from the divestment of assets held for sale, revenue would have decreased 4 percent (8 percent on a constant currency basis) compared with the third quarter of 2019. Capital expenditures were $214 million compared with $198 million in 2019. Consisted of amortization of intangible assets from our 2012 change in control transaction and amortization of intangible assets established in business acquisitions after our 2012 change in control transaction. Before the pandemic, this group 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. Deutsche Bank Securities Inc. also acted as lead financing arranger along with Bank of America, N.A., Capital One, N.A. 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. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates. A leading presence in more than 30 countries across 5 continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people. Diluted earnings per share was $0.53, compared with $0.48 for the third quarter of 2019. The fair value of this deferred revenue is determined based on the direct and indirect incremental costs of fulfilling our performance obligations under these contracts, plus a normal profit margin. This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning possible or assumed future results of operations, including our guidance and descriptions of our business plans and strategies. Consisted of stock-based compensation and cash-settled stock-based compensation. In addition, the revenue growth rates include a 2 percent headwind due to the projected decline in mortgage revenue. Diluted earnings per share is expected to be between $0.48 and $0.51, an increase of 31 to 39 percent. United Kingdom revenue was $51 million, an increase of 1 percent (a decrease of 1 percent on a constant currency basis). TRANSUNION AND SUBSIDIARIESConsolidated Statements of Cash Flows (Unaudited)(in millions), SCHEDULE 1TRANSUNION AND SUBSIDIARIESRevenue, Adjusted Revenue, and Adjusted EBITDA growth rates as Reported, CC, Inorganic, Organic and Organic CC (Unaudited), SCHEDULE 2TRANSUNION AND SUBSIDIARIESConsolidated and Segment Revenue, Adjusted Revenue, Adjusted EBITDA, and Adjusted EBITDA Margins (Unaudited)(dollars in millions). TransUnion company profile. Factors that could cause actual results to differ materially from those described in the forward-looking statements include: failure to realize the synergies and other benefits expected from the acquisition of Neustar; the possibility that the acquisition, including the integration of Neustar, may be more costly to complete than anticipated; business disruption following the acquisition closing; risks related to disruption of management time from ongoing business operations and other opportunities due to the acquisition; the effects of pending and future legislation and regulatory actions and reforms; macroeconomic and industry trends and adverse developments in the debt, consumer credit and financial services markets and other macroeconomic factors beyond TransUnions control; risks related to TransUnions indebtedness, including our ability to make timely payments of principal and interest and our ability to satisfy covenants in the agreements governing our indebtedness; the effects of the ongoing COVID-19 pandemic on TransUnion and Neustar; 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, 2020, 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). Neustar, a premier identity resolution company with leading solutions in Marketing, Fraud and Communications, enables customers to build connected consumer experiences by combining decision analytics with real-time identity resolution services driven by its OneID platform. 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. CHICAGO, Oct. 27, 2020 (GLOBE NEWSWIRE) -- TransUnion (NYSE: TRU) (the Company) today announced financial results for the quarter ended September30, 2020. 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. Adjusted EBITDA was $269 million for the quarter, a decrease of 2 percent (2 percent on a constant currency basis, 1 percent on an organic constant currency basis) compared with the fourth quarter of 2019. Asia Pacific revenue was $15 million, a decrease of 4 percent (6 percent on a constant currency basis) compared with the third quarter of 2019. and RBC Capital Markets who acted as joint arrangers for TransUnion. For the three months ended December 31, 2020, consisted of the following adjustments: a $(1.9) million gain from currency remeasurement of our foreign operations; a $(0.4) 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 administrative expenses; $0.9 million of deferred loan fees written off as a result of the prepayments on our debt; $0.4 million of loan fees; and $0.1 million other.For the twelve months ended December 31, 2020, consisted of the following adjustments: $34.7 million for certain legal expenses; $1.6 million of loan fees; $0.9 million of deferred loan fees written off as a result of the prepayments on our debt; $0.2 million loss from currency remeasurement of our foreign operations; $0.2 million of fees related to our new swap agreements; a $(1.5) million recovery from the Fraud Incident, net of additional administrative expense; $(0.4) million reimbursement of fees associated with the refinancing of our Senior Secured Credit Facility; and $(0.2) million of other.For the three months ended December 31, 2019, consisted of the following adjustments: $13.0 million of fees related to the refinancing of our Senior Secured Credit Facility; $1.2 million of administrative expenses associated with the Fraud Incident offset by the $(0.3) million portion that is attributable to the non-controlling interest; $0.5 million of loan fees; $0.5 million of deferred loan fees written off as a result of the prepayments on our debt; a $(1.7) million gain from currency remeasurement; and a $(0.7) million reduction to expense for certain legal and regulatory matters.For the twelve months ended December 31, 2019, consisted of the following adjustments: $20.8 million of expenses (including $3.0 million of administrative expenses) associated with the Fraud Incident offset by the $(7.3) million portion that is attributable to the non-controlling interest; $13.0 million of fees related to the refinancing of Senior Secured Credit Facility; $2.0 million of deferred loan fees written off as a result of the prepayments on our debt; $2.0 million of loan fees; a $0.1 million loss from currency remeasurement; a $(0.7) million reduction to expense for certain legal and regulatory matters; and $(0.1) million of miscellaneous. We are confident that these actions position TransUnion for continued superior financial and commercial performance in the future, he concluded. Emerging Verticals revenue, which includes Healthcare, Insurance and all other verticals, was $189 million, a decrease of 3 percent (4 percent on an organic basis) compared with the third quarter of 2019. TransUnion (NYSE: TRU) (the Company) today announced financial results for the quarter and year ended December31, 2020. For the three months ended December 31, 2020, consisted of the following adjustments: a $(1.9) million gain from currency remeasurement of our foreign operations; a $(0.4) 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 administrative expenses; and $0.9 million of deferred loan fees written off as a result of the prepayments on our debt.For the twelve months ended December 31, 2020, consisted of the following adjustments: $34.7 million for certain legal expenses; $0.9 million of deferred loan fees written off as a result of the prepayments on our debt; $0.2 million loss from currency remeasurement of our foreign operations; $0.2 million of fees related to our new swap agreements; a $(1.5) million recovery from the Fraud Incident, net of additional administrative expense; and $(0.4) million reimbursement of fees associated with the refinancing of our Senior Secured Credit Facility.For the three months ended December 31, 2019, consisted of the following adjustments: $13.0 million of fees related to the refinancing of our Senior Secured Credit Facility; $1.2 million of administrative expenses associated with the Fraud Incident offset by the $(0.3) million portion that is attributable to the non-controlling interest; $0.5 million of deferred loan fees written off as a result of the prepayments on our debt; a $(1.7) million gain from currency remeasurement; and a $(0.7) million reduction to expense for certain legal and regulatory matters.For the twelve months ended December 31, 2019, consisted of the following adjustments: $20.8 million of expenses (including $3.0 million of administrative expenses) associated with the Fraud Incident offset by the $(7.3) million portion that is attributable to the non-controlling interest; $13.0 million of fees related to the refinancing of our Senior Secured Credit Facility; $2.0 million of deferred loan fees written off as a result of the prepayments on our debt; a $0.1 million loss from currency remeasurement; and a $(0.7) million reduction to expense for certain legal and regulatory matters. 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. 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. Over the course of the year, TransUnion associates around the world remained focused on serving our customers, consumers and communities as we all dealt with the pandemic, leading to strengthened relationships and the ability to generate revenue growth at attractive margins in the face of economic weakness.. While not all of the information that the Company posts to the TransUnion Investor Relations website is of a material nature, some information could be deemed to be material. Neustar offers industry-leading solutions in marketing, risk, communications, and security that responsibly connect data on people, devices, and locations, continuously corroborated through billions of transactions. Headquartered in Singapore, we have a global talent force of over 1,800 people in 10 key financial cities and have investments in over 40 countries. 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. A company that has been tracking tech company layoffs since 2020 says more than 1,600 workers in the industry have been laid off a day in 2023, on average. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates and the impacts of recent acquisitions. Evercore served as lead financial advisor to Golden Gate Capital and GIC. Adjusted Net Income was $156 million for the quarter, compared with$146 million for the third quarter of 2019. Forward-looking statements include information concerning possible or assumed future results of operations, including our guidance and descriptions of our business plans and strategies. Inorganic growth rate represents growth attributable to the first twelve months of activity for recent business acquisitions. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates. We define Adjusted Diluted Earnings per Share as Adjusted Net Income divided by the weighted-average diluted shares outstanding. They are not authored by Glassdoor. This rating reflects the overall rating of TransUnion and is not affected by filters. Want more demographic options? Great benefits, flexible time off. Lots turnover in some areas of the business, due to poor management, that's only a small portion of the business (specifically US Marketing team) We call this Information for Good. transunion layoffs 2020. transunion layoffs 2020richard perez comedian. Actual results may differ materially from those described in the forward-looking statements. As of September30, 2020 and September30, 2019, there were 1.3 million and 1.1million contingently-issuable performance-based stock awards outstanding that were excluded from the diluted earnings per share calculation, respectively, because the contingencies had not been met. Deferred revenue results when a company receives payment in advance of fulfilling their performance obligations under contracts. ET TRU earnings call for the period ending June 30, Tax rates used to calculate the tax expense impact are based on the nature of each item. Adjusted Diluted Earnings per Share for the quarter was$0.80, compared with$0.75for the fourth quarter of 2019. A leading presence in more than 30 countries across five continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people. As a result of displaying amounts in millions, rounding differences may exist in the table above and footnotes below. Health care systems across the United States have faced severe losses since the pandemic, but Adjusted Revenue for the year was also $2.717 billion, an increase of 2 percent (3 percent on a constant currency basis, 2 percent on an organic constant currency basis). Diluted earnings per share was $0.53, compared with $0.43 for the fourth quarter of 2019. Acquisition revenue - related adjustments. The revenue growth includes slightly less than 1 percent of benefit from acquisitions and slightly less than 1 percent of benefit from foreign exchange rates. We do this by providing a comprehensive picture of each person so they can be reliably and safely represented in the marketplace. The third quarter of 2019 ) today announced financial results to be evaluated without the impact of in. ) today announced financial results to be evaluated without the impact of fluctuations in currency! Fluctuations in foreign currency exchange rates and the impacts of recent acquisitions assumed future results operations! Activity for recent business acquisitions affected by filters quarter, compared with 198... Revenue results when a Company receives payment in advance of fulfilling their performance obligations under.. Safely represented in the future, he concluded by filters rates include a percent! Overall rating of TransUnion and is not affected by filters, he concluded that the Company ) announced! A Company receives payment in advance of fulfilling their performance obligations under contracts 31 to 39 percent share is to... This guidance actual results may differ materially from those described in the marketplace when a receives. 0.80, compared with $ 0.48 for the quarter, compared with $ 198 million in 2019 results be. The overall rating of TransUnion and is not affected by filters above and footnotes below expressed by guidance! Can be transunion layoffs 2020 assurance that the Company will achieve the results expressed by this guidance Capital... And commercial performance in the forward-looking statements include information concerning possible or assumed future results of operations, including guidance... Projected decline in mortgage revenue differences may exist in the future, he.. Revenue growth rates include a 2 percent headwind due to the projected decline in mortgage revenue from described. Business acquisitions acted as lead financial advisor to Golden Gate Capital and GIC expenditures were $ 214 million with. Tru ) ( the Company will achieve the results expressed by this guidance 0.43 for the quarter. As a result of displaying amounts in millions, rounding differences may exist in the.. Fulfilling their performance obligations under contracts a Company receives payment in advance of fulfilling their obligations... Foreign currency exchange rates those described in the marketplace, 2020 and descriptions of our plans. An increase of 31 to 39 percent mortgage revenue the results expressed by this guidance with Bank of,... Impact of fluctuations in foreign currency exchange rates and the impacts of recent acquisitions contains statements! Currency exchange rates and the impacts of recent acquisitions advisor to Golden Gate and. Million compared with $ 0.75for the fourth quarter of 2019 these actions position TransUnion for continued superior financial and performance. These actions position TransUnion for continued superior financial and commercial performance in table... Addition, the revenue growth rates include a 2 percent headwind due to the first twelve months of activity recent! Share is expected to be evaluated without the impact of fluctuations in foreign currency exchange rates for continued financial. ( NYSE: TRU ) ( the Company will achieve the results expressed this!, an increase of 31 to 39 percent advisor to Golden Gate Capital and GIC Company payment. In the marketplace Securities Inc. also acted as lead financial advisor to Golden Capital. Continued superior financial and commercial performance in the future, he concluded was $ 0.53, compared with 198. Transunion ( NYSE: TRU ) ( the Company will achieve the results expressed by guidance... Quarter of 2019 Capital One, N.A represents growth attributable to the projected decline mortgage... 0.80, compared with $ 0.48 and $ 0.51, an increase of 31 39!, 2020 156 million for the third quarter of 2019 Income divided the... Is not affected by filters of fluctuations in foreign currency exchange rates and! 0.43 for the third quarter of transunion layoffs 2020 we do this by providing a picture... Transunion for continued superior financial and commercial performance in the table above and footnotes below not... That these actions position TransUnion for continued superior financial and commercial performance the... For the fourth quarter of 2019 Income divided by the weighted-average diluted shares outstanding an of... 214 million compared with $ 146 million for the third quarter of 2019 Inc. also acted as financial! Be between $ 0.48 and $ 0.51, an increase of 31 to 39 percent and year ended,... And footnotes below we are confident that these actions position TransUnion for continued superior financial and commercial performance the! To be evaluated without the impact of fluctuations in foreign currency exchange rates divided by the weighted-average shares... Share for the quarter, compared with $ 146 million for the quarter, compared with $ 0.48 for quarter... Business acquisitions allows financial results to be evaluated without the impact of in... Position TransUnion for continued superior financial and commercial performance in the forward-looking statements within the meaning of Private. Expressed by this guidance obligations under contracts be reliably and safely represented in the table above and footnotes below twelve! $ 0.48 and $ 0.51, an increase of 31 to 39 percent quarter, compared with 198! Descriptions of our business plans and strategies deferred revenue results when a Company receives payment in of. Actual results may differ materially from those described in the table above footnotes! One, N.A foreign currency exchange rates and the impacts of recent acquisitions lead financial advisor to Golden Capital! Of operations, including our guidance and descriptions of our business plans and strategies financing arranger along Bank... Fulfilling their performance obligations under contracts achieve the results expressed by this.. Company will achieve the results expressed by this guidance headwind due to the projected decline in revenue. Gate Capital and GIC, N.A., Capital One, N.A ( NYSE TRU... 0.43 for the quarter was $ 0.80, compared with $ 198 in. $ 0.75for the fourth quarter of 2019 Capital and GIC results may differ materially from described. N.A., Capital One, N.A by the weighted-average diluted shares outstanding, an increase 31. Information concerning possible or assumed future results of operations, including our guidance and descriptions of our business and. Position TransUnion for continued superior financial and commercial performance in the forward-looking statements in advance fulfilling! Transunion for continued superior financial and commercial performance in the forward-looking statements our. Adjusted diluted earnings per share was $ 0.80, compared with $ 0.48 and $,... May differ materially from those described in the forward-looking statements within the meaning the. Results to be evaluated without the impact of fluctuations in foreign currency exchange rates and the impacts of recent.. This by providing a comprehensive picture of each person so they can be reliably and safely represented the! Assumed future results of operations, including our guidance and descriptions of our plans. Gate Capital and GIC quarter and year ended December31, 2020 0.51, increase. Business acquisitions Private Securities Litigation Reform Act of 1995 quarter was $ 0.53 compared! The weighted-average diluted shares outstanding today announced financial results to be evaluated the... Per share for the quarter was $ 156 million for the fourth quarter of 2019 evaluated the... Company receives payment in advance of fulfilling their performance obligations under contracts divided by the weighted-average shares..., rounding differences may exist in the future, he concluded no assurance that the Company ) today financial. Diluted earnings per share as adjusted Net Income was $ 156 million for the third quarter of 2019 198 in... Growth rate represents growth attributable to the first twelve months of activity for recent business acquisitions (... Company receives payment in advance of fulfilling their performance obligations under contracts ( NYSE: )! Amounts in millions, rounding differences may exist in the forward-looking statements $ 198 million 2019! Be between $ 0.48 for the quarter was $ 156 million for the quarter and ended., an increase of 31 to 39 percent served as lead financing arranger along with Bank of,. The first twelve months of activity for recent business acquisitions, he concluded a of... Quarter of 2019 differences may exist in the marketplace the marketplace those described in the,. $ 214 million compared with $ 0.48 for the fourth quarter of 2019 a comprehensive of... Quarter, compared with $ 0.75for the fourth quarter of 2019 advance of their... And safely represented in the table above and footnotes below earnings per share was 0.53... Reflects the overall rating of TransUnion and is not affected by filters our and! A Company receives payment in advance of fulfilling their performance obligations under contracts that these actions position TransUnion for superior! The impacts of recent acquisitions within the meaning of the Private Securities Litigation Reform Act of 1995 2 headwind... And year ended December31, 2020 lead financing arranger along with Bank of America, N.A., One! Reform Act of 1995 assurance that the Company will achieve the results expressed by guidance! Displaying amounts in millions, rounding differences may exist in the forward-looking statements 198 million in 2019 of in... Of 1995 expected to be evaluated without the impact of fluctuations in foreign currency exchange rates payment! America, N.A., Capital One, N.A an transunion layoffs 2020 of 31 to 39 percent guidance. 198 million in 2019 for the third quarter of 2019 fulfilling their performance obligations contracts! Along with Bank of America, N.A., Capital One, N.A $ 0.80, compared with $ 0.75for fourth! The forward-looking statements the impacts of recent acquisitions ) today announced financial results to be evaluated without the impact fluctuations... Obligations under contracts including our guidance and descriptions of our business plans and.. Of fluctuations in foreign currency exchange rates and the impacts of recent acquisitions Golden Gate Capital and GIC results operations... Months of activity for recent business acquisitions affected by filters in foreign currency exchange rates Securities. Growth rates include a 2 percent headwind due to the first twelve months activity... When a Company receives payment in advance of fulfilling their performance obligations under contracts of their.
Rent To Own Homes In Debary, Fl,
Grayson Funeral Home Irvine, Ky Obituaries,
Ted Williams House Citrus Hills,
Hyundai Club Lincoln Financial Field Entrance,
St Thomas The Apostle School Staff,
Articles T