Conflicting Signals: Analyzing the Divergent Trends in India's Growth and U.S. Mortgage Revenue

None



Financial Performance and Market Conditions:
- TransUnion achieved 8% revenue growth on an organic constant currency basis in Q1 2025, exceeding previous guidance of 5% to 6%.
- The company's U.S. market segment reported 9% growth, with Financial Services growing 15% and excluding mortgage, growth accelerated to 9%.
- This growth was driven by strong performance in consumer lending and fintech lending, amidst subdued macroeconomic conditions.

Consumer Lending and Fintech Activity:
- Consumer lending revenue grew 11%, with fintech lenders exhibiting strong marketing and online volumes.
- The growth in consumer lending was supported by demand for debt consolidation products and improving funding conditions for fintech lenders.

International Market Growth:
- TransUnion's international markets grew 6% on a constant currency basis, led by 9% growth in the U.K. and 1% growth in India.
- Growth in India is expected to reaccelerate due to supportive actions by the Reserve Bank of India and increased consumer lending activity.

Transformation Initiatives and Cost Management:
- The company repurchased $10 million of shares in March and April, marking their first share repurchase since 2017.
- These actions reflect a continued focus on deleveraging and capital deployment, with the leverage ratio declining to 2.9x from 3.5x a year ago.