TransUnion Reverses To Loss In Q3; Cuts Annual Outlook Below View

(RTTNews) - Consumer credit reporting agency TransUnion (TRU) Tuesday reported a loss in the third quarter, compared with profit a year ago, primarily due to good will impairment charges. The company has slashed its full-year outlook, below the Street view, to reflect slowing volumes in the U.S. and the U.K. Its fourth-quarter guidance also came in below analysts' estimates.

Net loss was $399.8 million or $2.07 per share for the third quarter compared with profit of $79.2 million or $0.41 per share in the same quarter a year ago, mainly due to good will impairment charges of $495 million.

Excluding one-time items, the company reported earnings of $177 million or $0.91 per share, that missed the average estimate of analysts polled by Thomson-Reuters of $0.94 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter grew to $968.7 million, from $938.2 million in the previous year. The consensus estimate was for $982.27 million.

TransUnion now expects full-year revenue to be in the range of 3.794 billion - $3.809 billion, down from the previous outlook of $3.825 billion-$3.885 billion. The Street expects revenue of $3.87 billion.

Full-year adjusted EPS guidance has been slashed to $3.24-$3.28 from $3.49-$3.62. Analysts are expecting earning of $3.57 per share.

For the fourth quarter, the company sees adjusted EPS in the range of $0.67-$0.72 and revenue in the range of $917 million- $932 million. Analysts expect the company to report earnings of $0.98 per share on revenue of $974.94 million for the quarter.