TransUnion (TRU) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

July 26, 2022, 09:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, and welcome to the TransUnion 2022 Second Quarter Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. [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 joining us 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 Web site 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 their 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 Web site. 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, Form 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 now turn the call over to Chris.

Chris Cartwright

Thank you, Aaron, and let me add my welcome and share our agenda for the call this morning. I'll begin with an overview of our financial results along with commentary on the economic conditions in our markets around the globe. I also would like to share highlights on the performance of our acquisitions and the progress we've made to integrate them and realize their full potential. Todd will then review in detail our second quarter results, our revised full year guidance and the changes to our business over recent years that should improve its performance during economic downturns.

Now throughout the first half of this year, economic conditions have been positive across our portfolio. Consumer employment, incomes, balance sheets, spending, savings rates and credit performance have been strong in most of the markets that we serve globally. We expect this favorable environment to continue over the balance of the year. That said, there are macroeconomic concerns emerging globally that could pressure consumer spending and growth over the intermediate term.