Experian (LON:EXPN) reported what executives described as another “strong performance” in its third-quarter trading update, with management reiterating full-year guidance after posting double-digit reported revenue growth and continued momentum in North America.
Revenue growth remains strong; guidance reiterated
Chief Executive Officer Brian Cassin said total Q3 revenue rose 12% at actual exchange rates and 10% in constant currency, with organic revenue up 8%. The company said the performance continued the momentum seen in the first half and kept Experian on track with the FY26 guidance outlined in November.
By region, Experian reported organic revenue growth of 10% in North America, 6% in Latin America, 3% in the U.K. and Ireland, and 3% in EMEA and Asia Pacific. By segment, the company said global B2B organic revenue grew 7%, while global consumer services rose 10%.
North America: broad-based strength, mortgage up sharply
Experian emphasized continued strength in North America, citing client expansions, improving lender activity, and growth in consumer services. North America delivered 10% organic revenue growth overall, including 11% growth in B2B and 8% growth in consumer services.
In B2B financial services (excluding mortgage), the company reported organic revenue growth of 9%, up from 8% in Q2, supported by what Cassin described as key client wins and increasing adoption of new products. Management highlighted cash flow analytics and cash flow scores as newer offerings gaining traction, and said Clarity was a “very positive contributor” with strong commercial momentum.
Mortgage revenue increased 45% despite “flattish” volume, Pitchford said, attributing the result to pricing benefits that he characterized as “mid-forties%” through the year. The increase took total financial services growth in North America to 13%, according to the CFO.
Across verticals, North America grew 8% overall. Executives said automotive delivered mid-teen growth and health posted double-digit growth, while marketing services grew modestly. Cassin pointed to widening distribution of AutoCheck vehicle history reports and continued adoption of the AI-led Patient Access Curator proposition in health. Pitchford added that health performance was supported by claims management products and ongoing Patient Access Curator adoption.
Consumer services: insurance catch-up explained; marketplaces drive growth
In Q&A, management quantified the Q2 one-time catch-up in the North American insurance marketplace at about $19 million. Pitchford said the catch-up added roughly 1% to the group’s organic growth rate in Q2, noting that Q2 organic growth would have been 8% excluding the catch-up. He added the company expected Q4 to be in line with Q3 overall.
For Q3, consumer services in North America rose 8%. Management said marketplace was the primary driver, with double-digit growth reflecting broad strength across credit cards, personal loans, and insurance, while subscription membership revenue grew modestly due to a strong prior-year comparison.
Pitchford also discussed how Experian thinks about the unit economics of marketplace versus membership, calling them a “single ecosystem” that can be countercyclical. He said periods of restricted credit supply tend to drive membership growth as consumers try to become “credit fit,” while marketplace benefits as supply improves, and the company expects profit contribution to continue to grow from the combined business.
Latin America: consumer services surges; Brazil macro remains a headwind for B2B
Latin America posted 6% organic revenue growth, with B2B flat organically and consumer services up 23%. Cassin said the quarterly trajectory in Brazil improved modestly as expected, but high interest rates and elevated consumer indebtedness continued to weigh on core lending activity. Pitchford said interest rates appeared to have peaked at around 15% in Brazil and that the high-rate environment continued to pressure activity.
Executives said the integration of ClearSale progressed smoothly and was being well received by clients, supporting new business opportunities. Pitchford added that fraud and identity offerings performed well in the quarter, even as broader credit activity remained pressured.
Consumer services growth in the region was described as broad-based. Cassin cited the addition of new credit products to the marketplace, including private payroll loans, expanding contributions from credit marketplace and premium services. He also pointed to another strong quarter for Limpa Nome following a December credit fair, as the company continued to support consumers in debt renegotiation and loan consolidation.
Looking ahead, management said it was “hopeful” about improving trends, noting an uptick in pipeline. Pitchford said the improved pipeline suggested greater client engagement and could convert into contracts and revenue “over the next few quarters, really into next year.”
U.K. and Ireland and EMEA/APAC: steady growth, product pipeline highlighted
In the U.K. and Ireland, organic revenue grew 3%, with B2B flat and consumer services up 14%. Cassin said more clients were going live on the Ascend platform and that the backdrop for credit acquisition origination improved somewhat, supported by increased adoption of the Ascend sandbox. In consumer services, growth was led by the credit marketplace and supported by premium services. Cassin said a new “1250 Score” introduced in December was well received and increased member engagement.
EMEA and Asia Pacific also grew 3% organically against what management called a strong prior-year comparison. Pitchford noted the region was lapping a large one-off license recognition in Australia in the prior year, while Cassin said new product introductions were contributing and that the company maintained a strong pipeline.
During the call, management also addressed several policy and industry topics, including lender evaluation of VantageScore in U.S. mortgages, a proposed cap on credit card interest rates, and FICO’s direct distribution model. Cassin said VantageScore was not yet technically available for use, but lender engagement to evaluate the proposition was broad-based, and the company expected the FHFA’s timing to be “fairly imminent” without providing a date. On FICO’s distribution changes, Cassin said he did not expect changes to take effect in the first quarter of calendar 2026 because “nobody is ready yet,” and timing later in 2026 remained uncertain.
Experian said it would provide a fuller update on profitability at year-end results, while reiterating its guidance for 30 to 50 basis points of margin progression for the full year, including what Pitchford described as about a 30 basis point drag from acquisitions. The company expects to report full-year results in May.
About Experian (LON:EXPN)
Experian is a global data and technology company, powering opportunities for people and businesses around the world. We help to redefine lending practices, uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using our unique combination of data, analytics and software. We also assist millions of people to realise their financial goals and help them to save time and money.
We operate across a range of markets, from financial services to healthcare, automotive, agrifinance, insurance, and many more industry segments.
We invest in talented people and new advanced technologies to unlock the power of data and to innovate.
