TransUnion Reports Significant Financial Improvements in Q3 and Year-to-Date Results

TransUnion reported significant financial improvements in its third quarter and year-to-date results for 2024, reflecting a robust recovery from previous losses. For the three months ended September 30, 2024, the company achieved revenue of $1,085.0 million, a 12.0% increase from $968.7 million in the same period of 2023. Year-to-date revenue also rose by 9.4%, reaching $3,147.0 million compared to $2,876.9 million in 2023.

Operating income for the third quarter was $156.4 million, a substantial turnaround from an operating loss of $236.3 million in the prior year. For the nine months ended September 30, 2024, operating income increased to $495.9 million from $67.3 million in 2023. Net income for the third quarter was $71.9 million, compared to a net loss of $314.4 million in the same quarter of 2023. Year-to-date net income reached $231.6 million, a significant recovery from a net loss of $200.3 million in the previous year.

The company’s total operating expenses decreased notably, with third-quarter expenses at $928.6 million, down 22.9% from $1,205.0 million in 2023. For the nine-month period, operating expenses fell to $2,651.0 million from $2,809.6 million. This reduction in expenses contributed to improved profitability metrics, including a basic earnings per share of $0.35 for the third quarter, compared to a loss of $1.65 in the same period last year.

TransUnion's strategic developments included a reorganization of its operations into two segments: U.S. Markets and International, aimed at enhancing cross-selling opportunities and operational efficiencies. The company also reported revenue from its acquisitions of Argus Information and Advisory Services, Inc. and Commerce Signals, Inc. under the Emerging Verticals category.

The company is undergoing a transformation plan with expected one-time pre-tax expenses of $355.0 to $375.0 million through 2025, primarily for employee separation and facility exit costs. As of September 30, 2024, TransUnion had incurred $142.1 million in expenses related to this plan.

Financially, TransUnion's cash and cash equivalents increased to $643.2 million as of September 30, 2024, up from $476.2 million at the end of 2023. The company also reported total debt of $5,201.4 million, with no outstanding balance under its Senior Secured Revolving Credit Facility.

Overall, TransUnion's performance in 2024 reflects a strong recovery trajectory, driven by strategic restructuring and improved operational efficiencies, positioning the company favorably for future growth.