TransUnion (TRU) investor relations material

Executive summary

• Q3 revenue was $1,312.5M, up 12.2% reported and 8% organic constant currency (~5.5% excluding FICO mortgage royalties); adjusted diluted EPS rose 14% to $1.25.

• Revenue, adjusted EBITDA and adjusted diluted EPS exceeded the high end of guidance; U.S. Markets grew 7% and International returned to double-digit organic constant-currency growth.

• Growth reflected both segments and acquisitions, including Trans Union de Mexico; strategic priorities include OneTru migration, product innovation, AI-enabled productivity and scalable growth.

Financial highlights

• Q3 adjusted EBITDA was $464.8M, up 9.3% reported; adjusted EBITDA margin was 35.4%, down 90 bps YoY.

• GAAP net income attributable was $156.2M vs. $96.6M; diluted EPS was $0.81 vs. $0.49. Results included a $225.5M non-taxable acquisition gain.

• Adjusted net income was $241.6M vs. $216.5M; adjusted diluted EPS was $1.25 vs. $1.10.

• Nine-month operating cash flow was $888.6M vs. $668.1M; capital expenditures were $201.3M vs. $229.3M.

Outlook and guidance

• FY 2026 revenue guidance is $5.131B–$5.162B, up 12%–13%; organic constant-currency growth is 8%–9%, or 5%–6% excluding FICO mortgage royalties.

• FY adjusted EBITDA guidance is $1.808B–$1.827B, with a 35.2%–35.4% margin; adjusted diluted EPS guidance is $4.81–$4.88, up 12%–13%.

• Q4 revenue guidance is $1.264B–$1.294B; adjusted EBITDA is $450M–$468M and adjusted diluted EPS is $1.15–$1.22. Organic constant-currency growth excluding FICO royalties is 3%–5%.

• FY mortgage revenue growth is expected at 28%, or 9% excluding FICO royalties; mortgage inquiries are expected to decline ~10% for FY and more than 20% in Q4.

• Medium-term targets are high-single-digit organic revenue growth, ~50 bps adjusted EBITDA margin expansion and low-to-mid-teens adjusted diluted EPS growth.