- Q1 organic revenue up 7%
- Full-year guidance unchanged (organic revenue growth of 6-8%)
- COO, Craig Boundy, is stepping down on 20 August 2024
Matt Britzman, senior equity analyst, Hargreaves Lansdown:
“Credit giant Experian has made a good start to the year. Experian’s a leader in its field, with US operations taking centre stage and driving cash flow that can be reinvested into growth markets like Latin America. First quarter revenue growth was in line expectations, driven by the core US business. Latin America was a little weaker than markets are used to seeing, with deal timing and flooding in Brazil impacting revenue growth. There shouldn’t be too much cause for concern; growth in the consumer segment was good, and more normal levels of high growth in the region are expected to return in the coming quarters as conditions normalise.
It’s never welcome news to see executives move on when a business is looking in full flow. But Experian has a great team and strong culture embedded in the business, and COO Craig Boundy moving on to new pastures shouldn’t cause any major damage.
The valuation isn’t cheap, but you’re paying for quality with Experian. That’s more than justified given the combination of sector-leading returns and growth opportunities, with its treasure trove of data and products that are ripe for AI integration.”
