TransUnion (TRU) Q3 FY2023 earnings: revenue $969 million, up 3.3% on the year

TransUnion (TRU) reported revenue of $969 million for Q3 FY2023, the quarter ended 30 September 2023, up 3.3% on the same quarter a year earlier. Net income was -$319 million, and diluted earnings per share $-2.07. The figures are the company's own, from the 10-Q it filed with the SEC on 24 October 2023.

Revenue$969 millionup 3.3%

Net income-$319 million

Diluted EPS$-2.07

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	969	n/a	n/a	n/a
Selling, general and administrative	291	n/a	n/a	n/a
Operating income	-236	n/a	n/a	n/a
Operating margin	-24.4%	n/a	n/a
Interest expense	72.7	n/a	n/a	n/a
Pre-tax income	-292	n/a	n/a	n/a
Income tax	22.2	n/a	n/a	n/a
Net income	-319	n/a	n/a	n/a
Net margin	-32.9%	n/a	n/a
Diluted EPS	-$2.07	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	151	n/a	n/a	n/a
Capital expenditure	69.6	n/a	n/a	n/a
Free cash flow	81.3	n/a	n/a	n/a
Free cash flow margin	8.4%	n/a	n/a
Cash from investing	-44.4	n/a	n/a	n/a
Cash from financing	-121	n/a	n/a	n/a
Depreciation and amortisation	131	n/a	n/a	n/a
Share-based compensation	27.0	n/a	n/a	n/a
Dividends paid	20.5	n/a	n/a	n/a
Dividend per share	$0.10	n/a	n/a	n/a
Diluted shares, weighted	193m	n/a	n/a	n/a
Shares outstanding at period end	194m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	3,939	n/a	n/a	n/a
Non-controlling interest	102	n/a	n/a	n/a
Debt	5,254	n/a	n/a	n/a
Operating lease liabilities	84.8	n/a	n/a	n/a
Other liabilities	1,647	n/a	n/a	n/a
Total liabilities and equity	11,026	n/a	n/a	n/a
Fixed assets	183	n/a	n/a	n/a
Goodwill	5,086	n/a	n/a	n/a
Intangible assets	3,546	n/a	n/a	n/a
Investments	2.6	n/a	n/a	n/a
Cash and equivalents	421	n/a	n/a	n/a
Receivables	694	n/a	n/a	n/a
Other assets	1,094	n/a	n/a	n/a
Total assets	11,026	n/a	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023 †	Q4 FY2023 †	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	969	954	1,021	1,041	1,085	1,037	1,096	1,140	1,170	1,171	1,246	1,310
SG&A	291	304	306	311	306	317	257	335	331	342	329	346
Operating income	-236	61.3	157	182	156	171	254	192	208	204	245	258
Operating margin	-24%	6%	15%	18%	14%	16%	23%	17%	18%	17%	20%	20%
Interest expense	72.7	71.1	68.7	67.9	66.6	62.0	56.1	55.7	62.5	61.5	62.0	65.9
Pre-tax income	-292	-5.8	83.0	121	96.8	101	194	157	150	142	428	202
Tax rate	n/a	n/a	16%	26%	26%	30%	21%	28%	33%	26%	6%	27%
Net income	-319	6.1	65.1	85.0	68.0	66.3	148	110	96.6	101	397	143
Net margin	-33%	1%	6%	8%	6%	6%	14%	10%	8%	9%	32%	11%
Diluted EPS	-$2.07	$0.03	$0.33	$0.44	$0.35	$0.34	$0.75	$0.56	$0.49	$0.52	$2.04	$0.74
Operating cash flow	151	202	54.0	295	229	254	52.5	291	324	320	84.2	375
Capital expenditure	69.6	97.5	62.4	68.3	68.0	117	68.4	77.0	83.9	96.7	65.2	69.2
Free cash flow	81.3	104	-8.4	227	161	137	-15.9	214	240	223	19.0	306
Buybacks	n/a	n/a	0.0	0.0	0.0	0.0	5.4	33.5	114	149	12.1	103
Dividends paid	20.5	19.9	20.8	20.4	20.9	20.6	22.6	22.5	23.2	22.2	25.0	24.5
Shares outstanding	194m	194m	194m	194m	195m	195m	195m	195m	194m	192m	193m	192m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 24 October 2023, accession 0001552033-23-000050: the filing on EDGAR. All of TransUnion's filings: EDGAR company page.

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