Equifax Inc at William Blair Growth Stock Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Andrew Owen Nicholas - William Blair & Company L.L.C., Research Division - Analyst : All right. Great. Well, I just kind of wanted to start with a high-level question here to get everyone kind of familiar with the story to the extent they aren't already. John, if you wouldn't mind kind of giving a brief overview of the firm, the businesses that you run and anything else that you think is kind of important to understand as a level set starting point.

Question: Andrew Owen Nicholas - William Blair & Company L.L.C., Research Division - Analyst : So that's a great start. I really appreciate that for those that aren't as familiar. So I want to kind of pick through each one of the businesses here. A lot of them have a variety of growth drivers that I hope to get to. Let's start with kind of the crown jewel, Workforce Solutions. I think understanding the competitive advantage of that business is very -- is helped by understanding how it kind of came to be. So can you talk about the development of your relationships that have led to the twin database over the past decade to 15 years and kind of how that has developed over that time frame and made it into the business that it is today?

Question: Andrew Owen Nicholas - William Blair & Company L.L.C., Research Division - Analyst : Yes. So there's -- as you said, it's multisided. I think that one area that I get a lot of questions on is kind of the runway to record growth. You mentioned pension income is something that you're looking to add, gig economy workers. How would you compare the difficulty of getting those records into the database to maybe the more standard employment records that you have? And how should we think about kind of the acceleration of or the pacing of record additions in those markets?

Question: Andrew Owen Nicholas - William Blair & Company L.L.C., Research Division - Analyst : And then there's also the opportunity, which you've talked about in the past, of acquiring records via -- or at least enhancing record growth via M&A in Workforce Solutions specifically. Can you talk a little bit about that and maybe even the M&A strategy holistically?

Question: Andrew Owen Nicholas - William Blair & Company L.L.C., Research Division - Analyst : Yes. Just looking to increase hit rates.

Question: Andrew Owen Nicholas - William Blair & Company L.L.C., Research Division - Analyst : That's ultimately the goal. All right. Switching gears a little bit. Obviously, the Workforce Solutions business is, as I referred to earlier, like the crown jewel. But you have a lot of other things going on, many of which you have touched on. But can we talk about the U.S. business, USIS? One of the things that I thought was particularly encouraging in first quarter results was increasing guidance as it relates to nonmortgage growth in that business. Can you talk about what's working there maybe to the extent that the technology transformation is having an impact, some of the higher growth areas within the U.S. business that are worth calling out? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 09, 2022 / 5:00PM, EFX.N - Equifax Inc at William Blair Growth Stock Conference

Question: Andrew Owen Nicholas - William Blair & Company L.L.C., Research Division - Analyst : Great. We have like 1 minute, 1.5 minutes here. I just -- I'd be remiss if I didn't touch on some of the more current environment question. So I know mortgage, there are certain things that are outside of your control and you're growing in excess of the mortgage market. Can you talk about kind of your expectations for that piece, even though it is outside of all of our control? And also anything that you would say about kind of the health of the consumer, the state of the consumer now as it relates to what you're seeing in your business day to day? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 09, 2022 / 5:00PM, EFX.N - Equifax Inc at William Blair Growth Stock Conference

Question: Andrew Owen Nicholas - William Blair & Company L.L.C., Research Division - Analyst : Yes. We're running out of time. We'll -- that's the perfect teaser to get you to the breakout room next, which is in Maher, I believe. Thank you to both of you for joining us, and I appreciate everyone in the room for listening in.