Report
Kunaal Malde, CFA

Strong Q1, acquiring Callcredit

TransUnion delivered a very strong Q1, demonstrating organic constant currency revenue growth of 14% which has accelerated for the fourth consecutive quarter. Q1 revenue, adjusted EBITDA and EPS beat consensus by 6%, 7% and 10% respectively. The company also announced the acquisition of Callcredit for $1.4bn, which is not accounted for in its raised CY18 guidance.
Underlying
TransUnion

TransUnion is an information and insights company. The company provides consumer reports, actionable insights and analytics such as credit and other scores, and decisioning capabilities to businesses. The company has the following reportable segments: United States Markets, which provides consumer reports, actionable insights and analytics such as credit and other scores, and decisioning capabilities to businesses; International, which provides services similar to its United States Markets segment to businesses in select regions outside the United States; and Consumer Interactive, which provides solutions that help consumers manage their personal finances and take precautions against identity theft.

Provider
Atlantic Equities
Atlantic Equities

Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.

Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.

Analysts
Kunaal Malde, CFA

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