Experian Sees Lower Revenue Growth in Fiscal Year 2024 After In-Line Fiscal Year 2023
By Elena Vardon
Experian on Wednesday posted organic revenue and total revenue growth for fiscal 2023 in line with its guidance and said it sees lower growth for the year ahead.
The credit-reporting agency said organic revenue growth was 7% at constant currency for the year ended March 31 with contribution from all of its regions, at the lower end of its 7% to 9% growth expectations and below consensus' 7.3%. Total revenue growth at 8% at constant currency also bottomed the guided 8% to 10% range.
"Despite the uncertain economic climate, we expect to deliver organic revenue growth in the range of 4% to 6% and modest margin accretion, all at constant exchange rates and on an ongoing basis," Chief Executive Brian Cassin said regarding its outlook for fiscal 2024.
For fiscal 2023, it posted $1.17 billion in pretax profit, compared with $1.45 billion a year earlier. It attributed the drop to a non-cash charge from the impairment of goodwill, a decrease in net gain from associate disposals and an increase to the fair value of contingent consideration.
The FTSE 100 company said revenue for the year came in at $6.62 billion, up from $6.29 billion. Consensus compiled by the company had estimated $6.64 billion.
It declared a final dividend at 54.75 cents per share, below consensus' expected 56.6 cents payout but an increase from last year's 51.75 cents.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
May 17, 2023 02:44 ET (06:44 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
What Does Nvidia’s Stock Split Mean for Investors?
-
5 Undervalued Stocks to Buy as Their Stories Play Out
-
Markets Brief: Return of the Meme Stocks
-
What’s Happening In the Markets This Week
-
It’s Been a Terrible Time for Bonds. Here’s Why You Should Own Them
-
Which AI Stocks Are Turning Hype Into Revenue?
-
Best- and Worst-Performing Stocks of May 2024
-
3 Stocks to Buy and 3 Stocks to Sell in June
-
Oracle Earnings: IaaS Signings More Than Make Up for Miss
-
This Undervalued Stock Is a Buy After Its Dividend Increase
-
After Earnings, Is Nio Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is Lululemon Stock a Buy, a Sell, or Fairly Valued?
-
The 10 Best Dividend Stocks
-
The Most Attractive Investment Opportunities in Oil & Gas
-
Apple: Generative AI Strategy Should Drive Sales and Upgrades
-
2 Undervalued Stocks That Just Raised Dividends