Credit reporting firm’s stock hits lowest point in six years
- TransUnion shares touch a six-year low after cutting annual earnings guidance
- Stock falls 24% to $49.27, lowest level since October 2017
- Adjusted earnings for 2023 expected to be $3.24 to $3.38 per share, down from previous forecast
- Third-quarter performance weaker than expected, with a loss of $2.07 per share
- Revenue in Q3 rose to $968.7 million, but below analyst estimates
Factuality Level: 7
Justification: The article provides specific information about TransUnion’s performance, including its lowered earnings guidance, weaker third-quarter performance, and stock price decline. The information is supported by data from FactSet. However, the article does not provide a comprehensive analysis of the factors contributing to TransUnion’s performance, such as the reasons for the slowing volumes and weakening lending and marketing activity. Therefore, there may be some missing context that could affect the overall factuality of the article.
Noise Level: 3
Justification: The article provides relevant information about TransUnion’s performance, including its lowered earnings guidance, weaker third-quarter performance, and reasons for the outlook cut. It also includes data on the stock’s decline and revenue figures. However, it lacks in-depth analysis, antifragility considerations, and accountability of powerful people.
Financial Relevance: Yes
Financial Markets Impacted: TransUnion shares
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses TransUnion’s cut in annual earnings guidance and its weaker-than-expected performance. However, there is no mention of an extreme event.
Public Companies: TransUnion (TRU)
Private Companies:
Key People: Chris Cartwright (Chief Executive)
TransUnion shares have reached a six-year low after the company revised its annual earnings guidance downwards. The stock fell by 24% to $49.27, marking its lowest level since October 2017. The credit reporting firm reported a weaker-than-expected performance in the third quarter, with a loss of $2.07 per share. Adjusted earnings for 2023 are now projected to be between $3.24 and $3.38 per share, down from the previous forecast. Despite a rise in revenue to $968.7 million in Q3, it fell short of analyst estimates. The outlook cut is attributed to slowing volumes in the U.S. and U.K., as lending and marketing activity weakens.
