Equifax has agreed to provide the TrustedID Premier credit monitor to all US consumers free for one year.
Equifax reported $834.8 million in revenue in its third quarter, which is up 4 percent from the same time previous year; analysts had expected this, as the bulk of the company's money comes from selling services to other business, not consumers.
The hack, which occurred between mid-May and late July and involved the theft of data such as birth dates, Social Security and credit card numbers, has led to multiple state and federal investigations, a criminal probe by the U.S. Justice Department and scores of class action law suits.
Equifax estimated a range of additional costs between $56 million and $110 million to continue providing the free services. Equifax has not said how much cash it intends to set aside to cover legal costs.
"They need to be able to nail those pieces and have a clear explanation of what happened and how they solved it", said Johnson.
Johnson estimated the costs from the breach will total in the hundreds of millions of dollars, but that lost revenue could be even larger.
Equifax said it would hold a conference call to discuss the results on Friday morning, giving Wall Street a chance to publicly grill the company for the first time since the breach was disclosed on September 7.
The company said the breach was already taking a toll on sales.
The SEC is one of more than a dozen regulatory bodies investigating Equifax over the hack.
"The Equifax breach in particular exposed the limits of the Federal Trade Commission's ability to protect (consumers) and impose penalties on companies that treat our data with negligence and recklessness", said U.S. Richard Blumenthal (D-Conn.) on Wednesday, during the hearing.
That includes the costs to investigate the hack, legal fees and expenses for offering consumers free credit file monitoring and identity theft protection to its US consumers.
As of time of writing, shares were trading slightly down at $108.50. Third-quarter revenue climbed 3.8 percent to $834.8 million, missing the $847 million average estimate of 13 analysts surveyed by Bloomberg. Tax and finance costs left Equifax nursing 27.4 per cent decline in net profit to $96.3m. The stock is down around 24 percent since September 7, when Equifax disclosed the breach.