Equifax: A 38% Mortgage Jump Raises Sustainability Questions?

Equifax Incorporated reported a strong start to 2026 with first-quarter revenue of $1.649 billion, reflecting a 14% increase year-over-year and exceeding prior guidance by $37 million. On an organic, constant currency basis, revenue grew 13%, driven primarily by an impressive 38% increase in U.S. mortgage revenue, which outperformed expectations due to elevated mortgage activity before recent interest rate hikes linked to geopolitical tensions involving Iran. Excluding FICO-related revenue, growth was approximately 10%, aligning with the company’s long-term outlook. The Diversified Markets segment showed steady performance with nearly 6% constant currency growth, bolstered by Workforce Solutions’ strong execution. Adjusted EBITDA reached $477 million, up 13%, with an EBITDA margin excluding FICO of 31.2%, an 80 basis point expansion year-over-year, signaling operational leverage and cost efficiencies partly attributed to AI-driven productivity gains. Adjusted EPS rose 22% to $1.