TransUnion Surpasses 2024 Q4 Revenue Guidance with 9% Organic Growth
TransUnion, a leading global information and technology company, has reported impressive financial results for its 2024 fourth quarter. In a recent conference call, the company's President and Chief Executive Officer, Chris Cartwright, outlined the key highlights of the period.
The company exceeded guidance on revenue and adjusted EBITDA for a fifth consecutive quarter, with revenue growing 9% on an organic constant currency basis. This achievement underscores TransUnion's commitment to delivering strong financial performance while executing its strategic initiatives.
Within the U.S. market segments, Financial Services grew 21%, Mortgage was up 80% but slightly below expectations as volumes moderated due to interest rate increases. Nonmortgage financial services accelerated to 7%, and Credit volumes were broadly consistent with the prior quarter, supported by overall healthy U.S. household finances.
Consumer delinquencies decreased in personal lending remained stable in credit card and auto, and are well below historical trends in mortgage. The company attributes this trend to low unemployment, real wages growth, although lower income consumers continue to face affordability pressures.
TransUnion's Emerging verticals grew 4%, led by double-digit growth in insurance. Consumer Interactive declined 11% as expected, given the lapping of a large breach win in the prior quarter. The company's International business grew 12% on a constant currency basis, with India growing 18%, Asia Pacific and Latin America also growing double digits, and Canada and Africa up high single digits.
During the quarter, TransUnion prepaid $45 million in debt for a total of $150 million in 2024. The company successfully refinanced over $2.3 billion of its term loans, extending its maturity profile and reducing annual interest expense by $5 million. Notably, TransUnion achieved its near-term 3x leverage ratio target at year-end.
For the year, TransUnion grew revenue by 9% on an organic constant currency basis, exceeding guidance each quarter and grew adjusted diluted EPS by 16%. The company delivered these strong financial results while achieving key milestones against the 3 pillars of its transformation: optimizing its operating model, modernizing technology, and accelerating innovation.
Chris Cartwright highlighted that TransUnion's progress in optimizing its operating model has included relocating roles to global capability centers, enhancing workforce productivity, and allowing for more services to be provided from a greater variety of talent-rich geographies. The company also completed key steps in its technology modernization, preparing it to replatform core U.S. credit and India analytics in 2025.
TransUnion accelerated its pace of innovation in 2024, launching the first set of products built on OneTru, including TruIQ Data Enrichment, TruIQ Analytics Studio, TruValidate Fraud Mitigation through audience native identity, and TruAudience data collaboration.
