TransUnion

TRU: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$733.00	Pvt	Kxvzlftlv

TransUnion Earnings: Solid Quarter and Intact Outlook

Rajiv Bhatia

Apr 25, 2023

TransUnion started 2023 with solid footing. Revenue of $940 million and adjusted EPS of $0.80 edged out the FactSet consensus estimates of $914 million and $0.74, respectively. While first-quarter results beat the firm’s guidance, TransUnion maintained its full-year 2023 revenue and adjusted EBITDA guidance. We attribute this to the uncertain macroeconomic environment and management taking a conservative stance given that the stock suffered with modest guidance misses last year. We will maintain our $101 fair value estimate on wide-moat-rated TransUnion and regard shares as undervalued.

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