The layoffs will impact dozens of departments and several hundred roles. Adjusted EBITDA is expected to be between $1.031 billion and $1.047 billion, a decrease of 1 to 3 percent. Cash used in financing activities was $110 million compared with $373 million in 2019. Adjusted EBITDA was $270 million for the quarter, a decrease of 4 percent (3 percent on a constant currency basis, 3 percent on an organic constant currency basis) compared with the third quarter of 2019. 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. 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; 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, 2019, 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). 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. TransUnion achieved third quarter 2020 results in line with its Upside Case as provided in its scenario-based outlook. Solutions that facilitate global commerce by enabling secure online transactions are in great demand in todays growing digital economy. Forward-looking statements include information concerning possible or assumed future results of operations, including our guidance and descriptions of our business plans and strategies. As a result of displaying amounts in millions, rounding differences may exist in the table above. GIC is a leading global investment firm established in 1981 to secure Singapores financial future. The decrease in cash provided by continuing operations was due to a decrease in operating performance and a smaller increase in working capital compared to 2019 as a result of COVID-19, partially offset by lower interest expense. Managing your information is fast, easy, free and secure through the TransUnion Service Center. As a result, businesses and consumers can transact with confidence and achieve great things. Cash used in investing activities was $267 million compared with $204 million in 2019. Tax rates used to calculate the tax expense impact are based on the nature of each item. 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. 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. Employees also rated TransUnion 4.2 out of 5 for work life balance, 4.2 for culture and values and 3.8 for career opportunities. These are important financial measures for the Company but are not financial measures as defined by GAAP. Diluted earnings per share is expected to be between $1.93 and $2.09, an increase of 8 to 17 percent. Like TransUnion, Neustar has built its brand and reputation on fostering trusted connections between consumers and businesses to help them transact with greater confidence. These statements are based on the current beliefs and expectations of TransUnions management and are subject to significant risks and uncertainties. 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. 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. These statements often include words such as anticipate, expect, guidance, suggest, plan, believe, intend, estimate, target, project, should, could, would, may, will, forecast, outlook, potential, continues, seeks, predicts, or the negative of these words and other similar expressions. There can be no assurance that the Company will achieve the results expressed by this guidance. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. Latin America revenue was $23 million, a decrease of 12 percent (1 percent on a constant currency basis) compared with the fourth quarter of 2019. 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. Inorganic growth rate represents growth attributable to the first twelve months of activity for recent business acquisitions. Copyright 2023 Surperformance. As a result, businesses and consumers can transact with confidence and achieve great things. Adjustments to reconcile net income to net cash provided by operating activities: Net loss/(gain) on investments in affiliated companies and assets-held-for sale, Net (earnings)/dividends, from equity method investments, Amortization of discount and deferred financing fees, Provision for losses on trade accounts receivable, Cash used in operating activities of discontinued operations, Proceeds from sale/maturity of other investments, Acquisitions and purchases of noncontrolling interests, net of cash acquired, Proceeds from disposals of assets held for sale, Cash used in investing activities of discontinued operations, Proceeds from issuance of common stock and exercise of stock options, Distributions to noncontrolling interests, Employee taxes paid on restricted stock units recorded as treasury stock, Effect of exchange rate changes on cash and cash equivalents, Cash and cash equivalents, beginning of period, For the Three Months Ended September 30, 2020 compared with the Three Months Ended September 30, 2019, For the Nine Months Ended September 30, 2020 compared with the Nine Months Ended September 30, 2019. Boston home security company SimpliSafe is shutting down its Taunton warehouse and laying off its 58 employees. 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. SCHEDULE 4TRANSUNION AND SUBSIDIARIESEffective Tax Rate and Adjusted Effective Tax Rate (Unaudited)(dollars in millions), SCHEDULE 5TRANSUNION AND SUBSIDIARIESSegment Depreciation and Amortization (Unaudited)(in millions), SCHEDULE 6TRANSUNION AND SUBSIDIARIESReconciliation of Non-GAAP Guidance (Unaudited)(in millions). Other companies in our industry may define or calculate these measures differently than we do, limiting their usefulness as comparative measures. 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. Total revenue for the quarter was $699 million, an increase 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. With the onset of the COVID-19 pandemic, the United States declared a national emergency in March 2020. Net income attributable to TransUnion was $103 million for the quarter, compared with $92 million for the third quarter of 2019. Golden Gate Capital is a San Francisco-based private equity investment firm with over $19 billion in cumulative committed capital. Deutsche Bank acted as lead M&A advisor to TransUnion. We are confident that these actions position TransUnion for continued superior financial and commercial performance in the future, he concluded. We do this by providing an actionablepicture of each person so they can be reliably represented in the marketplace. What are the pros and cons of working at Our database contains more than 200 million files profiling nearly every credit-active consumer in the U.S. Neustars security business, Neustar Security Services, is excluded from the transaction and now operates as a standalone portfolio company of Golden Gate Capital and GIC. 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. Jackson National Life Insurance has announced a layoff of 150 workers. Eliminates the impact of excess tax benefits for share compensation. Health care systems across the United States have faced severe losses since the pandemic, but In addition, the revenue growth rates include approximately 3 percent of benefit due to the projected increase in mortgage revenue. 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. Adjusted Diluted Earnings per Share for the quarter was$0.81, compared with$0.76for the third quarter of 2019. TransUnion Market Cap $12B Today's Change (-2.54%) -$1.57 Current Price $60.16 Price as of November 28, 2022, 4:00 p.m. 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. The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. TransUnion achieved third quarter 2020 results in line with its Upside Case as provided in its scenario-based outlook. As a result of displaying amounts in millions, rounding differences may exist in the tables above and footnotes below. 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. These financial measures should be reviewed in conjunction with the relevant GAAP financial measures and are not presented as alternative measures of GAAP. The forward-looking statements contained in this earnings release speak only as of the date of this earnings release. 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. SCHEDULE 3TRANSUNION AND SUBSIDIARIESAdjusted Net Income and Adjusted Earnings Per Share (Unaudited)(in millions, except per share data). Forward-looking statements include information concerning possible or assumed future results of operations, including our guidance and descriptions of our business plans and strategies. Organic growth rate is the reported growth rate less the inorganic growth rate. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: See More The extent to which COVID-19 impacts our business and results of operations is inherently uncertain and will depend on numerous evolving factors that we may not be able to accurately predict. In addition, the revenue growth rates include a 2 percent headwind due to the projected decline in mortgage revenue. 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. In addition to new filings, the year saw several key decisions handed down by federal courts, shedd 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 Total adjustments before income tax items from schedule 3, Noncontrolling interest portion of Adjusted Net Income adjustments, Eliminate impact of excess tax benefits for share compensation. Adjusted EBITDA was $162 million, a decrease of 2 percent (1 percent on an organic basis) compared with the fourth quarter of 2019. International revenue was $160 million, a decrease of 4 percent (2 percent on a constant currency basis) compared with the fourth quarter of 2019. Adjusted Net Income was $577 million, compared with $536 million in 2019. Beginning in the third quarter of 2019, we no longer have these adjustments to revenue. Partial account number Neustar is an information services and technology company and a leader in identity resolution providing the data and technology that enable trusted connections between companies and people at the moments that matter most. Reconciliation of net income attributable to TransUnion to Adjusted Net Income: Amortization of certain intangible assets, Total adjustments before income tax items, Change in provision for income taxes per schedule 4, Anti-dilutive weighted stock-based awards outstanding. It also provides consumer reports, risk scores, analytical services TransUnion Should Be Able to Increase Revenue Even Amid Sector Headwinds, Morgan Stanle.. Stellex Capital Management LLC Acquires G2, LCI, and Fintellix. 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. We present Adjusted Revenue as a supplemental measure of revenue because we believe it provides a basis to compare revenue between periods. Reconciliation of net income attributable to TransUnion to consolidated Adjusted EBITDA: Net income from continuing operations attributable to TransUnion, Mergers and acquisitions, divestitures and business optimization, Net income attributable to TransUnion as a percentage of revenue. We define Adjusted EBITDA as net income (loss) attributable to TransUnion plus (less) loss (income) from discontinued operations, plus net interest expense, plus (less) provision (benefit) for income taxes, plus depreciation and amortization, 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 to migrate to the cloud, plus (less) certain other expenses (income). 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). 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. A replay of the call will also be available at this website following the conclusion of the call. 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. Adjusted EBITDA was $61 million, a decrease of 2 percent compared with the fourth quarter of 2019. Better predict cash flow, maximize reimbursements & deliver a more efficient, stress-free patient experience. This session and the accompanying presentation materials may be accessed atwww.transunion.com/tru. Many of these factors are beyond our control. warning symbol black and white copy and paste. 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. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are presented in the attached Schedules. This increase is partially offset by an estimated decrease to revenue for certain acquired non-core customer contracts that are not classified as discontinued operations that will expire within approximately one year from the date of acquisition. The extent to which COVID-19 impacts our business and results of operations continues to be inherently uncertain and will depend on numerous evolving factors that we may not be able to accurately predict. 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. This adjustment represents certain non-cash adjustments related to acquired entities, predominantly adjustments to increase revenue resulting from purchase accounting reductions to deferred revenue we record on the opening balance sheets of acquired entities. Eliminates the impact of excess tax benefits for share compensation. We present Adjusted Revenue as a supplemental measure of revenue because we believe it provides a basis to compare revenue between periods. We define Adjusted Diluted Earnings per Share as Adjusted Net Income divided by the weighted-average diluted shares outstanding. Business performance continues to benefit from re BNP Paribas Exane Initiates Coverage on TransUnion With Neutral Rating, $64.50 Price Ta.. North American Morning Briefing: Futures Dip As a -2-. Business combination accounting rules require us to record deferred revenue of acquired entities at fair value if we are obligated to perform any future services under these contracts. -, North American Morning Briefing: Investors Return -3-, Wells Fargo Upgrades TransUnion to Overweight From Equalweight, Price Target is $88, TransUnion Announces Earnings Release Date for Fourth Quarter 2022 Results. This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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. 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. Latin America revenue was $22 million, a decrease of 18 percent (5 percent on a constant currency basis) compared with the third quarter of 2019. For the twelve months ended December 31, 2020, cash provided by continuing operations was $787 million compared with $784 million in 2019.