Equifax Inc Q3 2021 Earnings Call 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 : My first question was just going to be on the talent solutions business. Obviously, as it gets to become a bigger and bigger piece of Workforce Solutions, I think you said 30% of non-mortgage. Just wondering how you think about the cyclicality of that business. We've talked about the tight REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 21, 2021 / 12:30PM, EFX.N - Q3 2021 Equifax Inc Earnings Call labor market. But as you're thinking about '22 in particular and embedding that type of growth or some level of growth for that business, how do you think about new product innovation relative to existing client growth or hiring activity and how that impacts performance in that business over a shorter time frame?

Question: Andrew Owen Nicholas - William Blair & Company L.L.C., Research Division - Analyst : Great. That's helpful. And then just 2 quick modeling questions. The first was, I think the legacy system savings that you had outlined in prior investor presentations was $85 million year-over-year. I just want to make sure that's still the number to think about. And then also, if you wouldn't mind speaking to whether or not the SSA contract was fully ramped this quarter.

Question: Ashish Sabadra - RBC Capital Markets, Research Division - Analyst : Two questions. First one is on pricing. You obviously have a very strong pricing power, and there were some pretty good pricing increases in the verification business. How do we think about pricing increases going forward? And then just second one, on the $50 million of investment, how do we think about that investment? I know you talked a lot about it. But is this like a onetime investment? Or should we think about having this like $50 million investment every year over the next several years? So color on both fronts.

Question: Ashish Sabadra - RBC Capital Markets, Research Division - Analyst : That's right, the pricing power.