Proactive Investors - TransUnion (NYSE:TRU) shares slid 26% to $48.10 in late-morning trading on Tuesday, hitting a six-year low, after the provider of consumer credit scores announced third-quarter 2023 financial results that fell short of analyst expectations on both the top and bottom lines and cut its outlook for the full year.
For 3Q, TransUnion reported Adjusted earnings per share (EPS) of $0.91 on $968.7 million in revenue.
The Zacks consensus estimate was for Adjusted EPS of $0.95 and revenue of $982 million.
"Despite these headwinds, US Markets continued to grow, highlighted by high-single digit growth at Neustar," TransUnion CEO Chris Cartwright said in a statement.
"Our International segment again grew double-digits, led by India, Canada and Asia Pacific," he added.
The company also revised its full-year 2023 forecast, now expecting earnings in the range of $3.24 to $3.28 per share on revenue between $3.79 billion and $3.81 billion, both of which were less than analyst expectations.
TransUnion cited slowing volumes in the US and United Kingdom.
Shares of TransUnion have fallen 19% year to date.