TransUnion (TRU) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

April 25, 2023 9:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, and welcome to the TransUnion 2023 First Quarter Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Aaron Hoffman, Senior Vice President, Investor Relations. Please go ahead.

Aaron Hoffman

Good morning, everyone, and thank you for attending today. Joining me on the call are Chris Cartwright, President and Chief Executive Officer; and Todd Cello, Executive Vice President and Chief Financial Officer. We posted our earnings release and slides to accompany this call on the TransUnion Investor Relations website this morning.

Our earnings release and the accompanying slides include various schedules, which contain more detailed information about revenue, operating expenses and other items, as well as certain non-GAAP disclosures and financial measures, along with the corresponding reconciliations of these non-GAAP financial measures to their most directly comparable GAAP measures. Today's call will be recorded, and a replay will be available on our website.

We will also be making statements during this call that are forward-looking. These statements are based on current expectations and assumptions and are subject to risks and uncertainties. Actual results could differ materially from those described in the forward-looking statements because of factors discussed in today's earnings release, in the comments made during this conference call, and in our most recent Form 10-K, Forms 10-Q and other reports and filings with the SEC. We do not undertake any duty to update any forward-looking statement.

With that, let me turn the time over to Chris.

Christopher Cartwright

Thanks, Aaron, and let me add my welcome and share our agenda for the call this morning. First, I'll discuss the macroeconomic conditions in TransUnion's markets around the world. Then I'll provide an overview of our strong first quarter financial performance. I'll also review the continued progress with Neustar to accelerate revenue growth, achieve targeted savings, and leverage its technologies across the enterprise.

Finally, Todd will detail our first quarter results, along with our second quarter and full year guidance. Inflation in our developed markets around the world remains elevated although its signs of subsiding as central banks have raised interest rates to slow consumer demand and return to long-term inflation targets. Higher prices and higher rates have pressured consumer finances and economic growth has slowed as a result.