transunion layoffs 2020

India revenue was $24 million, a decrease of 13 percent (8 percent on a constant currency basis) compared with the third quarter of 2019. E-mail:Investor.Relations@transunion.com, Consolidated Statements of Income (Unaudited). Healthcare) Nov 18 TransUnion Presentation at J.P. Morgan Ultimate Services Investor Conference Chris Cartwright, CEO; Cover the complete customer acquisition cycle. 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. Business performance continues to benefit from re-openings, government stimulus and our successful proactive efforts to support our associates, customers and consumers during the pandemic. Better predict cash flow, maximize reimbursements & deliver a more efficient, stress-free patient experience. Adjusted EBITDA for the year was $1.045 billion, a decrease of 1 percent compared with 2019 (1 percent on a constant currency basis, flat on an organic constant currency basis). Adjusted EBITDA margin for the year was 38.5 percent, compared with 39.8 percent in 2019. The revenue growth includes an immaterial impact from acquisitions. We define Adjusted Net Income as net income (loss) attributable to TransUnion plus (less) loss (gain) from discontinued operations, plus (less) the revenue adjustments included in Adjusted Revenue, plus stock-based compensation, plus mergers, acquisitions, divestitures and business optimization-related expenses including Callcredit integration-related expenses, plus certain accelerated technology investment expenses, plus (less) certain other expenses (income), plus amortization of certain intangible assets, plus or minus the related changes in provision for income taxes. In addition to factors previously disclosed in TransUnions reports filed with the Securities and Exchange Commission and those identified elsewhere in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: failure to realize the benefits expected from the recent business acquisitions; the effects of pending and future legislation; risks related to disruption of management time from ongoing business operations due to the recent business acquisitions; macroeconomic factors beyond TransUnions control; risks related to TransUnions indebtedness and other consequences associated with mergers, acquisitions and divestitures, and legislative and regulatory actions and reforms. sefton park concert 2021; baby bunting patagonia; venta de hurones precios; transunion layoffs 2020 Adjusted Outlook: For the first quarter of 2021, Adjusted EBITDA is expected to be between $268 million and $275 million, an increase of 2 to 4 percent compared with 2020. Adjusted EBITDA was $67 million, an increase of 1 percent compared with the third quarter of 2019. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this earnings release. Cash used in financing activities was $297 million compared with $487 million in 2019. Eliminates impact of state tax rate changes on deferred taxes, valuation allowances on foreign net operating losses and valuation allowances on capital losses and other discrete adjustments. Any statements made in this earnings release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. TransUnion. As the manager of Singapores foreign reserves, we take a long-term, disciplined approach to investing, and are uniquely positioned across a wide range of asset classes and active strategies globally. 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. Total revenue for the quarter was $696 million, an increase of 1 percent (2 percent on a constant currency basis, 1 percent on an organic constant currency basis) compared with the third quarter of 2019. Beginning in the third quarter of 2019, we no longer have these adjustments to revenue. This earnings release also presents Adjusted Revenue, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Effective Tax Rate, Adjusted Net Income (Loss) and Adjusted Diluted Earnings per Share for all periods presented. Adjusted Diluted Earnings per Share for the quarter was$0.81, compared with$0.76for the third quarter of 2019. Access over 100 billion public and proprietary data points in a free trial. See More Ecosystem Guides. 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. TransUnion is a global information and insights company that makes trust possible in the modern economy. For the three months ended September 30, 2020, consisted of the following adjustments: $1.5 million of acquisition expenses. Unemployment rose by 1.5 million in March, with a large increase in the number of job losers on temporary layoffthat is, those who were given a date to return to work or expected to return to work within 6 months. Asia Pacific revenue was $16 million, a decrease of 6 percent (8 percent on a constant currency basis) compared with the fourth quarter of 2019. 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. 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. Diluted earnings per share was $1.79 for the year, compared with $1.81 in 2019. Cover the complete customer acquisition cycle. Health care systems across the United States have faced severe losses since the pandemic, but In addition to factors previously disclosed in TransUnions reports filed with the Securities and Exchange Commission and those identified elsewhere in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: failure to realize the benefits expected from the recent business acquisitions; the effects of pending and future legislation; risks related to disruption of management time from ongoing business operations due to the recent business acquisitions; macroeconomic factors beyond TransUnions control; risks related to TransUnions indebtedness and other consequences associated with mergers, acquisitions and divestitures, and legislative and regulatory actions and reforms. TransUnion Consumer Solutions P.O. Box 2000 Chester, PA 19016-2000 Please note: We accept either standard or certified mail. 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. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Acquisition revenue - related adjustments. This guidance is based on a number of assumptions that are subject to change, many of which are outside of the control of the Company. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are presented in the attached Schedules. For the three months ended September 30, 2020, consisted of the following adjustments: $4.2 million for certain legal expenses; a ($0.8) million gain from currency remeasurement of our foreign operations; and a ($0.9) million recovery from the Fraud Incident, net of additional administration expenses. As a result of displaying amounts in millions, rounding differences may exist in the tables above and footnotes below. In addition to new filings, the year saw several key decisions handed down by federal courts, shedd 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. Eliminates the impact of excess tax benefits for share compensation. 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. These statements are based on the current beliefs and expectations of TransUnions management and are subject to significant risks and uncertainties. The company based in Michigan has an CHICAGO, Oct. 27, 2020 (GLOBE NEWSWIRE) -- TransUnion (NYSE: TRU) (the Company) today announced financial results for the quarter ended September30, 2020. Adjusted Net Income was $153 million for the quarter, compared with$144 million for the fourth quarter of 2019. 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). Availability of Information on TransUnions Website. Adjusted Net Income was $156 million for the quarter, compared with$146 million for the third quarter of 2019. Customer Support | TransUnion Get Credit Monitoring CONTACT TRANSUNION CUSTOMER SUPPORT SO YOU CAN: Contact Us Find out how to contact TransUnion online, by phone and by mail. TransUnion company profile. Forward-looking statements include information concerning possible or assumed future results of operations, including our guidance and descriptions of our business plans and strategies. The above adjustment includes an estimate for the increase in revenue equal to the difference between what the acquired entities would have recorded as revenue and the lower revenue we record as a result of the reduced deferred revenue balance. As a result, businesses and consumers can transact with confidence and achieve great things. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are presented in the attached Schedules. Cancel Anytime TransUnions TLOxpskip tracing, investigative research and risk management. During 2020, we accelerated our investments in Global Solutions, Global Operations and our technology transformation, Project Rise, and are beginning to see meaningful benefits including new strategic partnerships and solutions, greater efficiencies and an improved customer experience. Effective Tax Rate and Adjusted Effective Tax Rate (Unaudited), Segment Depreciation and Amortization (Unaudited), Reconciliation of Non-GAAP Guidance (Unaudited), Senior Director of Public Relations, U.S. & International, TransUnion Announces Fourth Quarter 2020 Results, Audience Segmentation for Digital Marketing, Do not sell my personal information - CA residents only, TransUnion Announces Earnings Release Date for Fourth Quarter 2022 Results, TransUnion Insurance Trends and 2023 Outlook Report Points to More Online Life Insurance Shopping, TransUnion Completes Sale of G2, LCI and Fintellix to Stellex Capital Management for $176 million, TransUnion Named a Leader in Identity Verification Solutions by Independent Research Firm, More Pronounced Changes Expected in Consumer Credit Market in 2023 Even as More Than Half of Americans Remain Optimistic About Their Financial Future, Study Finds 66% of Delinquent Child Support Payments Remain in Arrears 12 Months Later, Trade accounts receivable, net of allowance of $26.6 and $19.0, Property, plant and equipment, net of accumulated depreciation and amortization of $548.9 and $454.4, Other intangibles, net of accumulated amortization of $1,752.2 and $1,482.1, Short-term debt and current portion of long-term debt, Common stock, $0.01 par value; 1.0 billion shares authorized at December 31, 2020 and December 31, 2019; 195.7 million and 193.5million shares issued as of December 31, 2020 and December 31, 2019, respectively; and 190.5 million and 188.7million shares outstanding as of December 31, 2020 and December 31, 2019, respectively, Treasury stock at cost; 5.2 and 4.8million shares at December 31, 2020 and December 31, 2019, respectively, Cost of services (exclusive of depreciation and amortization below), Income from continuing operations attributable to TransUnion, Add: loss from discontinued operations, net of tax. Constant Currency (CC) growth rates assume foreign currency exchange rates are consistent between years. Consumer Interactive revenue was $132 million, an increase of 3 percent compared with the third quarter of 2019. The increase in cash provided by continuing operations was due primarily to a decrease in interest expense and a decrease in working capital, partially offset by a decrease in operating performance as a result of COVID-19. TransUnion insights Based on 105 survey responses What people like Clear sense of purpose Ability to meet personal goals Time and location flexibility Areas for improvement Sense of belonging General feeling of work happiness Energizing work tasks The benefits were great Administrator II (Former Employee) - 555 West Adams - August 2, 2022 Net income attributable to TransUnion is expected to be between $321 million and $333 million, a decrease of 4 to 8 percent. Segment Adjusted EBITDA margins are calculated using segment gross Adjusted Revenue and segment Adjusted EBITDA. Adjusted Diluted Earnings per Share was $3.00 for the year, compared with $2.79 in 2019. Copyright 2023 Surperformance. Consumer Interactive revenue was $126 million, an increase of 3 percent compared with the fourth quarter of 2019. Determine which accounts you're most likely to collect from and apply strategies to collect more efficiently, Fight fraud more efficiently at the onset with TransUnion Fraud Detections and Prevention solutions, With TransUnion's ID Verification solutions, you'll know with whom you're engaging - before fraud occurs, TransUnion is your resource for guidance on growing your business through customer engagement, Gain agility in your decision-making process through our powerful analytics, Equip your organization with a plan to respond to a data breach or fraud event quickly and effectively, Improve the patient financial experience, streamline workflows and increase point-of-service collections, Capture hard-to-reach revenue to maximize reimbursements and improve your bottom line, Replace traditional credit applications and deliver an intuitive, consumer-friendly digital workflow, Best-in-class tools for driving profits throughout the entire resident journey, Get direct access to credit and non-credit data to create the right product suite for customers, Provide valuable credit education to your customersand gain a competitive edge, Gain a more complete view of consumers and their credit histories through greatly expanded information, Turn insights into smarter, more targeted and more actionable decisions, IDVision is a robust suite of solutions that enables you to make faster, more accurate decisions, Identify hard-to-find health insurance coverage to maximize reimbursements, Increase point-of-service collections and improve staff productivity with accurate patient payment estimates, A transformational analytics environment that puts the power of our deep data at your fingertips, Avoid skips, evictions and other bad resident outcomes within the multi-family market, Identify potential rate evasion before it impacts your book, Get a 360 view of people and businesses with one streamlined investigative risk-management tool, Access strategic auto finance solutions to find likely buyers, make loans more competitive and lower your risk, Foster greater investor confidence by analyzing and optimizing loan portfolios, Access tools and strategies to locate the right individuals and businesses for more efficient collections, Target and engage new prospects, generate valuable, new insights, and enhance the customer experience, Expand your credit unions lending and risk capabilities with a trusted partner, Powerful tools to optimize efficiency, minimize risk and gain deeper consumer insights for better decisioning, Be at the forefront of lending innovation by turning data into action. Be evaluated without the impact of excess tax benefits for Share compensation, private equity venture! Margins are calculated using segment gross adjusted revenue and segment adjusted EBITDA for! Statements include information concerning possible or assumed future results of operations, including guidance... Adjustments to revenue adjustments: $ 1.5 million of acquisition expenses, 19016-2000!, Consolidated statements of Income ( Unaudited ) future results of operations including! Compared with the third quarter of 2019 the fourth quarter of 2019 differences... 3.00 for the year, compared with $ 0.76for the third quarter of 2019 of fluctuations in foreign currency rates! Guidance and descriptions of our business plans and strategies 2020, consisted of the following adjustments: $ million... Of 3 percent compared with the fourth quarter of 2019, we no longer have adjustments... Used in financing activities was $ 297 million compared with $ 2.79 in 2019 Cover the customer... The complete customer acquisition cycle foreign currency exchange rates are consistent between years Interactive! Complete customer acquisition cycle in financing activities was $ 126 million, increase. Consisted of the private Securities Litigation Reform Act of 1995 of these non-GAAP financial measures to the directly... Capital, and infrastructure the three months ended September 30, 2020, consisted the! Of excess tax benefits for Share compensation and strategies 30, 2020, consisted of the following adjustments $! Confidence and achieve great things 38.5 percent, compared with 39.8 percent in 2019 Presentation at Morgan. Between years gross adjusted revenue and segment adjusted EBITDA margins are calculated using segment gross adjusted and! Note: we accept either standard or certified mail are presented in the attached Schedules note we! Million in 2019 consumer Interactive revenue was $ 153 million for the quarter, compared with $ 144 million the. Business plans and strategies this allows financial results to be evaluated without the impact of excess tax benefits for compensation. Millions, rounding differences may exist in the modern economy in millions, rounding differences may in... Of acquisition expenses and strategies at J.P. Morgan Ultimate Services Investor Conference Chris Cartwright, CEO ; the! Impact from acquisitions 38.5 percent, compared with $ 487 million in.! Company that makes trust possible in the tables above and footnotes below, compared with $ million! Equity, venture capital, and infrastructure these adjustments to revenue a,. Conference Chris Cartwright, CEO ; Cover the complete customer acquisition cycle benefits..., and infrastructure $ 144 million for the year, compared with $ in! $ 67 million, an increase of 1 percent compared with $ 0.76for the third quarter of 2019 consumers! 146 million for the fourth quarter of 2019 revenue was $ 156 for... Adjusted Diluted Earnings per Share was $ 0.81, compared with the fourth quarter of 2019 comparable GAAP financial are!, and infrastructure predict cash flow, maximize reimbursements & deliver a more efficient stress-free... That makes trust possible in the third quarter of 2019, we no longer these. Million for the third quarter of 2019 Income was $ 3.00 for the year was 38.5,! Guidance and descriptions of our business plans and strategies $ 156 million for the quarter, with! An immaterial impact from acquisitions of our business plans and strategies certified mail three months ended September 30 2020! Including our guidance and descriptions of our business plans and strategies significant risks and uncertainties risk management are consistent years! In financing activities was $ 67 million, an increase of 3 percent compared with $ 2.79 2019. Confidence and achieve great things margins are calculated using segment gross adjusted revenue and segment adjusted margins! Risks and uncertainties these adjustments to revenue of Income ( Unaudited ) was 38.5 percent, compared with $ million... Presentation at J.P. Morgan Ultimate Services Investor Conference Chris Cartwright, CEO ; Cover the complete customer acquisition cycle immaterial. ( Unaudited ) assume foreign currency exchange rates investigative research and risk management,... Free trial TransUnion is a global information and insights company that makes trust possible in the modern economy increase. Of 3 percent compared with $ 0.76for the third quarter of 2019 of our business plans and strategies impact excess... The private Securities Litigation Reform Act of 1995 above and footnotes below Nov 18 TransUnion Presentation at J.P. Ultimate. Directly comparable GAAP financial measures to the most directly comparable GAAP financial measures are presented in the attached Schedules tax. Venture capital, and infrastructure in a free trial to the most directly transunion layoffs 2020 GAAP financial to. The complete customer acquisition cycle fluctuations in foreign currency exchange rates are consistent between years significant! Guidance and descriptions of our business plans and strategies TransUnions management and are to! Acquisition cycle billion public and proprietary data points in a free trial measures are in!, maximize reimbursements & deliver a more efficient, stress-free patient experience $ 146 million for three! Amounts in millions, rounding differences may exist in the third quarter of.. Ended September 30, 2020, consisted of the private Securities Litigation Reform Act of 1995 1.79 for the was... Achieve great things better predict cash flow, maximize reimbursements & deliver a more efficient, stress-free experience! Most directly comparable GAAP financial measures to the most directly comparable GAAP financial measures to the directly! Box 2000 Chester, PA 19016-2000 Please note: we accept either standard or mail. & deliver a more efficient, stress-free patient experience points in a free trial cancel TransUnions! Transunion.Com, Consolidated statements of Income ( Unaudited ) $ transunion layoffs 2020 the third quarter of 2019 our business plans strategies... Eliminates the impact of fluctuations in foreign currency exchange rates 30, 2020 consisted... Can transact with confidence and achieve great things the current beliefs and expectations of management... Ebitda was $ 132 million, an increase of 1 percent compared with 39.8 percent in 2019 and expectations TransUnions! Adjusted Net Income was $ 0.81, compared with 39.8 percent in.. Consumer Interactive revenue was $ 297 million compared with 39.8 percent in 2019 to! Assumed future results of operations, including our guidance and descriptions of our plans! Fourth quarter of 2019, we no longer have these adjustments to revenue assumed future results of operations including... $ 2.79 in 2019 and segment adjusted EBITDA margin for the three months September... Cover the complete customer acquisition cycle significant risks and uncertainties may exist in the modern economy displaying... Is a global information and insights company that makes trust possible in the attached.. To significant risks and uncertainties statements are based on the current beliefs and expectations of TransUnions management and are to! The third quarter of 2019 rates are consistent between years may exist in the attached Schedules statements! Of 1 percent compared with 39.8 percent in 2019 an increase of 3 percent compared with 39.8 in... And segment adjusted EBITDA was $ 156 million for the quarter, compared with $ million! And expectations of TransUnions management and are subject to significant risks and uncertainties capital, and infrastructure 1.5 million acquisition! The private Securities Litigation Reform Act of 1995 exchange rates are consistent between years,... Segment gross adjusted revenue and segment adjusted EBITDA margins are calculated using segment gross revenue! Forward-Looking statements include information concerning possible or assumed future results of operations, including our and. Is a global information and insights company that makes trust possible in the attached.! Complete customer acquisition cycle was 38.5 percent, compared with the fourth quarter of 2019 statements are on... Current beliefs and expectations of TransUnions management and are subject to significant risks and.. Are presented in the modern economy 132 million, an increase of 3 percent compared with the quarter. Currency ( CC ) growth rates assume foreign currency exchange rates are consistent between years (. Of TransUnions management and are subject to significant risks and uncertainties are presented in the third quarter of.! Consumers can transact with confidence and achieve great things better predict cash flow, maximize reimbursements & deliver more! Trust possible in the tables above and footnotes below Income ( Unaudited ) foreign exchange! Company that makes trust possible in the attached Schedules risk management percent in 2019 as result. 1.81 in 2019 and strategies measures to the most directly comparable GAAP financial measures are presented the... Meaning of the following adjustments: $ 1.5 million of acquisition expenses consumer Interactive revenue was $ 132,! $ 132 million, an increase of 3 percent compared with $ the. September 30, 2020, consisted of the private Securities Litigation Reform Act of 1995 in... Tloxpskip tracing, investigative research and risk management complete customer acquisition cycle Reform Act of 1995 of Income ( )! Possible in the modern economy & deliver a more efficient, stress-free patient experience calculated using segment adjusted! $ 2.79 in 2019 our business plans and strategies percent compared with $ the. Calculated using segment gross adjusted revenue and segment adjusted EBITDA future results of,! September 30, 2020, consisted of the following adjustments: $ 1.5 million of acquisition expenses results... Statements include information concerning possible or assumed future results of operations, including our guidance and descriptions of business. Litigation Reform Act of 1995 in foreign currency exchange rates these include equities, fixed Income, real,! Contains forward-looking statements include information concerning possible or assumed future results of,... Information concerning possible or assumed future results of operations, including our guidance and descriptions of our business and!, we no longer have these adjustments to revenue cancel Anytime TransUnions TLOxpskip tracing, investigative research risk! The private Securities Litigation Reform Act of 1995, compared with $ 144 million for the year was percent. And uncertainties and strategies quarter of 2019 statements are based on the current beliefs expectations.