transunion layoffs 2020
Because of these limitations, these non-GAAP financial measures should not be considered in isolation or as substitutes for performance measures calculated in accordance with GAAP, including operating income, operating margin, effective tax rate, net income (loss) attributable to the Company, earnings per share or cash provided by operating activities. Serious delinquency rates increased slightly by 15 basis points (bps) in Q4 2020 on a quarterly basis, though remained 78 bps lower than Q4 2019. The forward-looking statements contained in this earnings release speak only as of the date of this earnings release. Adjusted Diluted Earnings per Share is expected to be between $0.78 and $0.81, an increase of 6 to 10 percent. Golden Gate Capital is a San Francisco-based private equity investment firm with over $19 billion in cumulative committed capital. Adjusted Net Income was $153 million for the quarter, compared with$144 million for the fourth quarter of 2019. Boston home security company SimpliSafe is shutting down its Taunton warehouse and laying off its 58 employees. If youve In addition, our board of directors and executive management team use Adjusted Revenue as a compensation measure under our incentive compensation plans. Eliminates impact of state and foreign tax rate changes on deferred taxes, valuation allowances on foreign net operating losses, capital losses and foreign tax credits and other discrete adjustments. Many of these factors are beyond our control. Adjustments to reconcile net income to net cash provided by operating activities: Net loss/(gain) on investments in affiliated companies and assets of businesses held for sale, Provision for losses on trade accounts receivable, Cash used in operating activities of discontinued operations, Proceeds from sale/maturity of other investments, Acquisitions and purchases of noncontrolling interests, net of cash acquired, Proceeds from disposals of assets held for sale, net of cash on hand, Cash used in investing activities of discontinued operations, Proceeds from refinance of Senior Secured Term Loans, Payments from refinanceof Senior Secured Term Loans, Proceeds from issuance of common stock and exercise of stock options, Distributions to noncontrolling interests, Employee taxes paid on restricted stock units recorded as treasury stock, Effect of exchange rate changes on cash and cash equivalents, Cash and cash equivalents, beginning of period, For the Three Months Ended December 31, 2020 compared with the Three Months Ended December 31, 2019, For the Twelve Months Ended December 31, 2020 compared with the Twelve Months Ended December 31, 2019. Over the course of the year, TransUnion associates around the world remained focused on serving our customers, consumers and communities as we all dealt with the pandemic, leading to strengthened relationships and the ability to generate revenue growth at attractive margins in the face of economic weakness.. This increase is partially offset by an estimated decrease to revenue for certain acquired non-core customer contracts that are not classified as discontinued operations that will expire within approximately one year from the date of acquisition. As a result, businesses and consumers can transact with confidence and achieve great things. warning symbol black and white copy and paste. CHICAGO, Feb. 25, 2021 (GLOBE NEWSWIRE) -- TransUnion (NYSE: TRU) today announced that its Board of Directors declared a cash dividend of $0.075 per share for the fourth quarter 2020. Consisted of amortization of intangible assets from our 2012 change in control transaction and amortization of intangible assets established in business acquisitions after our 2012 change in control transaction. Continuously monitor your risk, improve decisions, take action and increase profitability. ET TRU earnings call for the period ending June 30, Dispute an item on your TransUnion credit report by mail. Dane Mauldin Executive Vice President, Chief Operations Officer Susan Muigai Executive Vice President, Chief Human Resources Officer Heather Russell Executive Vice President, Chief Legal Officer Steve Sassaman Executive Vice President, Chief Commercial Officer Todd Skinner President, International [email protected] The fair value of this deferred revenue is determined based on the direct and indirect incremental costs of fulfilling our performance obligations under these contracts, plus a normal profit margin. The extent to which COVID-19 impacts our business and results of operations is inherently uncertain and will depend on numerous evolving factors that we may not be able to accurately predict. Senior Director of Public Relations, U.S. & International, TransUnion and Neustar Announce Transaction Close, Audience Segmentation for Digital Marketing, Neustars security business, Neustar Security Services, is excluded from the transaction, and now operates as a standalone portfolio company of, Do not sell my personal information - CA residents only, TransUnion Announces Earnings Release Date for Fourth Quarter 2022 Results, TransUnion Insurance Trends and 2023 Outlook Report Points to More Online Life Insurance Shopping, TransUnion Completes Sale of G2, LCI and Fintellix to Stellex Capital Management for $176 million, TransUnion Named a Leader in Identity Verification Solutions by Independent Research Firm, More Pronounced Changes Expected in Consumer Credit Market in 2023 Even as More Than Half of Americans Remain Optimistic About Their Financial Future, Study Finds 66% of Delinquent Child Support Payments Remain in Arrears 12 Months Later. Headquartered in Singapore, we have a global talent force of over 1,800 people in 10 key financial cities and have investments in over 40 countries. Consolidated Statements of Cash Flows (Unaudited), Revenue, Adjusted Revenue, and Adjusted EBITDA growth rates as Reported, CC, Inorganic, Organic and Organic CC (Unaudited), Consolidated and Segment Revenue, Adjusted Revenue, Adjusted EBITDA, and Adjusted EBITDA Margins (Unaudited). For the three months ended September 30, 2020, consisted of the following adjustments: $1.5 million of acquisition expenses. 2020 will be a good year for consumer credit, TransUnion's researchers predict. The layoffs will impact dozens of departments and several hundred roles. Tax rates used to calculate the tax expense impact are based on the nature of each item. For the three months ended December 31, 2020, consisted of the following adjustments: a $(1.9) million gain from currency remeasurement of our foreign operations; a The increase in cash provided by continuing operations was due primarily to a decrease in interest expense and a decrease in working capital, partially offset by a decrease in operating performance as a result of COVID-19. We present Adjusted Revenue as a supplemental measure of our revenue because we believe it provides meaningful information regarding our revenue and provides a basis to compare revenue between periods. This session and the accompanying presentation materials may be accessed at www.transunion.com/tru. These financial measures should be reviewed in conjunction with the relevant GAAP financial measures and are not presented as alternative measures of GAAP. Net income attributable to TransUnion was $102 million for the quarter, compared with $83 million for the fourth quarter of 2019. Africa revenue was $12 million, a decrease of 22 percent (a decrease of 10 percent on a constant currency basis) compared with the third quarter of 2019. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates and the impacts of recent acquisitions. Emerging Verticals revenue, which includes Healthcare, Insurance and all other verticals, was $193 million, essentially flat (a decrease of 3 percent on an organic basis) compared with the fourth quarter of 2019. Factors that could cause actual results to differ materially from those described in the forward-looking statements include: the effects of the COVID-19 pandemic; the timing of the recovery from the COVID-19 pandemic; the duration of the COVID-19 pandemic and the timing of the recovery from the COVID-19 pandemic; macroeconomic and industry trends and adverse developments in the debt, consumer credit and financial services markets; our ability to provide competitive services and prices; our ability to retain or renew existing agreements with large or long-term customers; our ability to maintain the security and integrity of our data; our ability to deliver services timely without interruption; our ability to maintain our access to data sources; government regulation and changes in the regulatory environment; litigation or regulatory proceedings; regulatory oversight of critical activities; our ability to effectively manage our costs; economic and political stability in the United States and international markets where we operate; our ability to effectively develop and maintain strategic alliances and joint ventures; our ability to timely develop new services and the markets willingness to adopt our new services; our ability to manage and expand our operations and keep up with rapidly changing technologies; our ability to make acquisitions, successfully integrate the operations of acquired businesses and realize the intended benefits of such acquisitions; our ability to protect and enforce our intellectual property, trade secrets and other forms of unpatented intellectual property; our ability to defend our intellectual property from infringement claims by third parties; the ability of our outside service providers and key vendors to fulfill their obligations to us; further consolidation in our end-customer markets; the increased availability of free or inexpensive consumer information; losses against which we do not insure; our ability to make timely payments of principal and interest on our indebtedness; our ability to satisfy covenants in the agreements governing our indebtedness; our ability to maintain our liquidity; share repurchase plans; our reliance on key management personnel; and other one-time events and other factors that can be found in our Annual Report on Form 10-K for the year ended December 31, 2020, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, which are filed with the Securities and Exchange Commission and are available on TransUnions website (www.transunion.com/tru) and on the Securities and Exchange Commissions website (www.sec.gov). Real-time Estimate Cboe BZX In addition to new filings, the year saw several key decisions handed down by federal courts, shedd TransUnion | LayOff.site. Tax rates used to calculate the tax expense impact are based on the nature of each item. The Adjusted EBITDA growth rates include approximately 1 percent of benefit from foreign exchange rates. Acquisition revenue - related adjustments. Consisted of amortization of intangible assets from our 2012 change in control transaction and amortization of intangible assets established in business acquisitions after our 2012 change in control transaction. Represents expenses associated with our accelerated technology investment. Unemployment rose by 1.5 million in March, with a large increase in the number of job losers on temporary layoffthat is, those who were given a date to return to work or expected to return to work within 6 months. Net income attributable to TransUnion was $343 million for the year, compared with $347 million for 2019. Financial Services revenue was $238 million, an increase of 7 percent compared with the fourth quarter of 2019. We present Adjusted Revenue as a supplemental measure of revenue because we believe it provides a basis to compare revenue between periods. Read more about tech layoffs, here. In order to complete your dispute, provide as much of the following information as possible: Your name*. Simpson Thacher & Bartlett LLP served as legal advisor to TransUnion. We define Adjusted Net Income as net income (loss) attributable to TransUnion plus (less) loss (gain) from discontinued operations, plus (less) the revenue adjustments included in Adjusted Revenue, plus stock-based compensation, plus mergers, acquisitions, divestitures and business optimization-related expenses including Callcredit integration-related expenses, plus certain accelerated technology investment expenses, plus (less) certain other expenses (income), plus amortization of certain intangible assets, plus or minus the related changes in provision for income taxes. TransUnion Insurance Trends and 2023 Outlook Report Points to More Online Life Insuranc.. Neustar-Commissioned Study Shows Customer Experience Tied to Voice Channel. Messages relating to layoffs at TransUnion are presented below the company info. The combination of TransUnions powerful digital identity assets and Neustars distinctive data and identity resolution capabilities presents enormous opportunities ahead.. A leading presence in more than 30 countries across 5 continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people. We also maintained a strong balance sheet position with $554 million of cash on hand at the end of the quarter, ensuring that we are well situated to fully operate our business in the current highly fluid macro environment while enabling our ongoing investment strategy, Cartwright concluded. Deutsche Bank acted as lead M&A advisor to TransUnion. Asia Pacific revenue was $16 million, a decrease of 6 percent (8 percent on a constant currency basis) compared with the fourth quarter of 2019. Beginning in the third quarter of 2019, we no longer have these adjustments to revenue. Generally, this fair value calculation results in a reduction to the purchased deferred revenue balance. Adjusted Outlook: For the first quarter of 2021, Adjusted EBITDA is expected to be between $268 million and $275 million, an increase of 2 to 4 percent compared with 2020. Adjusted Diluted Earnings per Share is expected to be between $2.94 and $3.01, an increase of 5 to 8 percent. Cash used in financing activities was $297 million compared with $487 million in 2019. Diluted earnings per share is expected to be between $1.93 and $2.09, an increase of 8 to 17 percent. The company based in Michigan has an In addition, our board of directors and executive management team use Adjusted Revenue as a compensation measure under our incentive compensation plans. Reconciliation of net income attributable to TransUnion to Adjusted Net Income: Amortization of certain intangible assets, Total adjustments before income tax items, Change in provision for income taxes per schedule 4, Anti-dilutive weighted stock-based awards outstanding. Forward-looking statements include information concerning possible or assumed future results of operations, including our guidance and descriptions of our business plans and strategies. Target your marketing efforts more precisely to drive growth. Neustars security business, Neustar Security Services, is excluded from the transaction and now operates as a standalone portfolio company of Golden Gate Capital and GIC. These statements often include words such as anticipate, expect, guidance, suggest, plan, believe, intend, estimate, target, project, should, could, would, may, will, forecast, outlook, potential, continues, seeks, predicts, or the negative of these words and other similar expressions. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this press release. Our database contains more than 200 million files profiling nearly every credit-active consumer in the U.S. We are reinstating guidance for the fourth quarter and full year 2020. As a result, businesses and consumers can transact with confidence and achieve great things. TransUnion is a global information and insights company that makes trust possible in the modern economy. Adjusted Outlook: For 2021, Adjusted EBITDA is expected to be between $1.083 billion and $1.121 billion, an increase of 4 to 7 percent compared with 2020. In conjunction with this release, TransUnion will host a conference call and webcast today at 8:30 a.m. Central Time to discuss the business results for the quarter and certain forward-looking information. Improve policy pricing and underwriting decisions, identify potential fraud and gain consumer insights, Comprehensive identity and people-based marketing solutions to enable addressable interactions, Build a Better Understanding of Homebuyers, Expert solutions designed to help you manage processes across the entire resident quality management lifecycle, Make informed decisions with superior data assets, analytics and the insights to combat fraud, waste and abuse, Provide smooth customer experiences while effectively detecting potential fraudulent activity, Assess consumers' ability to repay and grow your business. Investors and others should note that TransUnion routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the TransUnion Investor Relations website. These are important financial measures for the Company but are not financial measures as defined by GAAP. Sidley Austin served as legal advisor to GIC. Adjustments to reconcile net income to net cash provided by operating activities: Net loss/(gain) on investments in affiliated companies and assets-held-for sale, Net (earnings)/dividends, from equity method investments, Amortization of discount and deferred financing fees, Provision for losses on trade accounts receivable, Cash used in operating activities of discontinued operations, Proceeds from sale/maturity of other investments, Acquisitions and purchases of noncontrolling interests, net of cash acquired, Proceeds from disposals of assets held for sale, Cash used in investing activities of discontinued operations, Proceeds from issuance of common stock and exercise of stock options, Distributions to noncontrolling interests, Employee taxes paid on restricted stock units recorded as treasury stock, Effect of exchange rate changes on cash and cash equivalents, Cash and cash equivalents, beginning of period, For the Three Months Ended September 30, 2020 compared with the Three Months Ended September 30, 2019, For the Nine Months Ended September 30, 2020 compared with the Nine Months Ended September 30, 2019. Under the credit agreement governing our Senior Secured Credit Facility, our ability to engage in activities such as incurring additional indebtedness, making investments and paying dividends is tied to a ratio based on Adjusted EBITDA. TransUnion achieved third quarter 2020 results in line with its Upside Case as provided in its scenario-based outlook. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates. The above adjustment includes an estimate for the increase in revenue equal to the difference between what the acquired entities would have recorded as revenue and the lower revenue we record as a result of the reduced deferred revenue balance. We continue to closely monitor the situation in all our markets. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Jackson National Life Insurance has announced a layoff of 150 workers. Notable software and technology enabled services investments sponsored by Golden Gate Capital include Infor, BMC Software, LiveVox, Vector Solutions, Ex Libris, 2020 Technologies and Ensemble Health Partners. Employees also rated TransUnion 4.2 out of 5 for work life balance, 4.2 for culture and values and 3.8 for career opportunities. Consisted of stock-based compensation and cash-settled stock-based compensation. TransUnions Largest Acquisition to Date Will Accelerate Growth of Identity-Based Solutions TransUnion (NYSE: TRU) and Neustar Inc. (Neustar), today announced that TransUnion has completed its $3.1 billion acquisition of Neustar from a private investment group led by Golden Gate Capital and with minority participation by GIC. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are presented in the attached Schedules. Adjusted EBITDA margin was 38.5 percent, compared with 40.2 percent for the fourth quarter of 2019. This increase is partially offset by an estimated decrease to revenue for certain acquired non-core customer contracts that are not classified as discontinued operations that will expire within approximately one year from the date of acquisition. Factors that could cause actual results to differ materially from those described in the forward-looking statements include; the effects of the COVID-19 pandemic; the timing of the recovery from the COVID-19 pandemic; macroeconomic and industry trends and adverse developments in the debt, consumer credit and financial services markets; our ability to provide competitive services and prices; our ability to retain or renew existing agreements with large or long-term customers; our ability to maintain the security and integrity of our data; our ability to deliver services timely without interruption; our ability to maintain our access to data sources; government regulation and changes in the regulatory environment; litigation or regulatory proceedings; regulatory oversight of critical activities; our ability to effectively manage our costs; economic and political stability in the United States and international markets where we operate; our ability to effectively develop and maintain strategic alliances and joint ventures; our ability to timely develop new services and the markets willingness to adopt our new services; our ability to manage and expand our operations and keep up with rapidly changing technologies; our ability to make acquisitions, successfully integrate the operations of acquired businesses and realize the intended benefits of such acquisitions; our ability to protect and enforce our intellectual property, trade secrets and other forms of unpatented intellectual property; our ability to defend our intellectual property from infringement claims by third parties; the ability of our outside service providers and key vendors to fulfill their obligations to us; further consolidation in our end-customer markets; the increased availability of free or inexpensive consumer information; losses against which we do not insure; our ability to make timely payments of principal and interest on our indebtedness; our ability to satisfy covenants in the agreements governing our indebtedness; our ability to maintain our liquidity; share repurchase plans; our reliance on key management personnel; and other one-time events and other factors that can be found in our Annual Report on Form 10-K for the year ended December 31, 2019, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, which are filed with the Securities and Exchange Commission and are available on TransUnions website (www.transunion.com/tru) and on the Securities and Exchange Commissions website (www.sec.gov). The above definitions apply to our calculations for the periods shown on Schedules 1 through 6. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates. We are confident that these actions position TransUnion for continued superior financial and commercial performance in the future, he concluded. TransUnion insights Based on 105 survey responses What people like Clear sense of purpose Ability to meet personal goals Time and location flexibility Areas for improvement Sense of belonging General feeling of work happiness Energizing work tasks The benefits were great Administrator II (Former Employee) - 555 West Adams - August 2, 2022 Our long-term approach, multi-asset capabilities, and global connectivity enable us to be an investor of choice. The WARN notice requires companies laying off more than 100 employees with six months of service to publicly list layoffs. 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