10-Q · April 28, 2026
TransUnion reported Q1 revenue of $1,245.7 million, up $149.9 million or 13.7% year-over-year, driven by strength in U.S. Financial Services and sizable international growth in Latin America. GAAP net income…
Earnings analysis · 10-Q
TRU earnings analysis
Filed July 28, 2026 · Our reading of the company's report
The latest report
TransUnion delivered strong Q2 growth, with revenue up 14.9% to $1.310 billion, GAAP operating income up 34.2% to $258.0 million, and GAAP diluted EPS up to $0.74 from $0.56. Growth was led by U.S. Financial Services…
Read full summary
TransUnion delivered strong Q2 growth, with revenue up 14.9% to $1.310 billion, GAAP operating income up 34.2% to $258.0 million, and GAAP diluted EPS up to $0.74 from $0.56. Growth was led by U.S. Financial Services and acquisition-supported Latin America, although Consumer Interactive declined and adjusted EBITDA margin contracted 90 basis points to 34.8%. Six-month cash generation improved materially, but the Trans Union de Mexico transaction increased total debt to $5.585 billion and raised interest expense.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.74
What stood out
-
Revenue rose 14.9% and beat consensus
Q2 revenue was $1.310 billion, increasing $169.9 million (14.9%) year over year and approximately $59.6 million (4.8%) from Q1 2026 revenue of $1.250 billion. Revenue exceeded the supplied $1.281 billion consensus estimate by $33.6 million.
-
Operating profit and EPS improved
GAAP operating income increased $65.8 million (34.2%) to $258.0 million, producing a 19.7% operating margin versus 16.9% a year ago and flat versus Q1 2026's 19.7%. GAAP diluted EPS rose $0.18 year over year to $0.74; adjusted diluted EPS increased $0.15 to $1.23.
-
U.S. business growth was broad based
Financial Services grew $76.4 million (18.2%) to $496.3 million, primarily from Mortgage price and volume growth, including FICO mortgage royalties. Emerging Verticals added $30.3 million (9.4%) to $353.9 million, supported by Insurance volumes, new wins, pricing and acquisitions.
-
International growth accelerated
International revenue rose $67.9 million (26.8%) to $320.8 million. Latin America contributed $58.6 million of growth to reach $92.7 million, with the Trans Union de Mexico acquisition accounting for 157.5% of Latin America's percentage growth.
-
Cash conversion and capex intensity improved
Six-month operating cash flow increased $115.3 million to $459.1 million. Capital expenditures declined $11.0 million to $134.4 million, or 5.3% of six-month revenue versus 6.5% a year earlier; implied operating-cash-flow less capex was $324.7 million.
-
Liquidity remained substantial
Cash was $839.1 million at June 30, while the company had $478.7 million of remaining revolver availability after $520.0 million of revolver borrowings. Management states these sources should cover planned needs for at least the next 12 months.
-
No formal risk-factor update in the 10-Q
No new or revised Item 1A risk factors were presented: the filing directs investors to the 2025 Form 10-K and subsequently filed reports. The filing says there were no other material changes in Item 3 market-risk disclosures from the 2025 10-K.
What to watch
-
Consumer Interactive and parts of International declined
Consumer Interactive revenue declined $4.4 million (3.0%) year over year to $142.5 million, driven by lower demand for paid credit products. India and Asia Pacific also declined $1.5 million (2.3%) and $2.4 million (9.8%), respectively.
-
Margins compressed despite revenue growth
Consolidated adjusted EBITDA margin fell 90 basis points to 34.8%, while U.S. Markets adjusted EBITDA margin declined 150 basis points to 36.4%. Management attributed the pressure primarily to FICO mortgage royalties and higher product costs.
-
Leverage and variable-rate exposure increased
Total debt was $5.585 billion and net debt was $4.746 billion at June 30, 2026, following the Mexico acquisition; quarterly interest expense increased $10.2 million (18.3%) to $65.9 million. Although 68.4% of variable-rate debt is hedged, a 10% change in average Term SOFR would change annual interest expense by about $6.5 million.
Management's outlook
The 10-Q does not provide a quantitative revenue or EPS outlook. Management states that cash on hand, operating cash flow and revolving-credit availability are expected to fund planned capex, debt service, acquisitions, dividends and operating needs for at least the next 12 months.
Earlier filings 4
10-K · February 27, 2026
TransUnion emphasizes its OneTru platform and AI-enabled product roadmap (TruVision, TruIQ, TruValidate, TruAudience) to expand identity, fraud and analytics solutions across >30 countries. FY2025 quarterly results show…
10-K · February 13, 2025
TransUnion positions itself as a global information & analytics platform built around its OneTru identity/insights platform and enhanced by the December 2021 Neustar acquisition, serving customers in over 30 countries…
10-Q · April 25, 2024
TransUnion reported Q1 revenue of $1,021.2 million (up from $940.3 million a year ago) and operating income of $157.2 million. Diluted EPS rose to $0.33 from $0.27 a year ago. Management completed a segment…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.