Ashish Sabadra's questions to Equifax Inc (EFX) leadership • Q3 2024
Question
Ashish Sabadra of RBC Capital Markets sought two clarifications: first, whether the announced $70 million in cost savings was all OpEx, and second, whether the 5% mortgage inquiry growth expectation for 2025 already incorporated potential Fed rate cuts.
Answer
CFO John Gamble clarified that the $70 million in savings represents total spending reductions, which includes some CapEx. He and CEO Mark Begor then emphasized that the 5% mortgage inquiry growth figure was not formal guidance but a simple extrapolation of current run-rates with seasonality applied. They explicitly stated it does not forecast or bake in any future interest rate changes.