Jitalia17 Introduction It's time to talk about one of the dividend stock stocks on my 28-stock watch list. On that watch list, I'm holding most of the companies I discuss on Seeking Alpha for potential inclusion in my dividend growth portfolio, which currently holds 21 individual stocks. One of my favorites on that list is the Moody's Corporation (NYSE:MCO), a stock I haven't covered since February 20, when I went with the somewhat boring title "Moody's Poised To Benefit From A Diversified Business Model." ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form10-Q (Mark one) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ☑ EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ☐ EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-14037 ____________________ Moody’s Corporation (Exact name of registrant as specified in its charter) Delaware 13 ...

Financial Data and Key Metrics - Revenue growth of 21% in Q1 2024, driven by strong issuance environment and demand for risk assessment solutions [8] - Adjusted diluted EPS of $3.37 for the quarter, reflecting strong top-line performance and margin expansion [8] - MIS revenue grew 35% YoY, with transactional revenue up 57% and leveraged finance markets revenue up 144% [10] - Moody's Analytics (MA) reported 10% ARR growth, with double-digit growth in Decision Solutions and Data & Information [9] - Adjusted operating margin for MIS reached 64.6%, while MA achieved 29.7% [8][28] Business Line Performance - MIS delivered its second-highest quarterly revenue on record, driven by strong issuance in corporate finance (up 49%) and financial institutions (up 37%) [25][26] - MA revenue grew 8%, with Data & Information up 13% and KYC & compliance solutions up 24% [27] - Research & Insights revenue grew 3%, impacted by timing of revenue recognition and modest attrition in CreditView [27] - RMS (Risk Management Solutions) ARR expected to grow at a low double-digit pace in 2024, driven by SaaS migration and cross-selling strategies [15] Market Performance - Strong issuance in Q1 benefited from pull-forward activity due to favorable market conditions, with uncertainties around U.S. elections, Middle East tensions, and inflation [12][13] - Global economy resilience reflected in declining high-yield default rates, projected to range between 3% to 3.5% by year-end [13] - M&A activity picking up, with private equity funds seeking exits and deploying capital, potentially driving issuance growth [13] Strategic Direction and Industry Competition - Investments in analytical talent, technology enablement, and GenAI capabilities to maintain leadership in risk assessment [8][16] - GenAI-enabled solutions categorized into navigators, skills, and assistance, with a focus on automation and productivity for customers [17][18] - Continued focus on transitioning from legacy on-premise revenue to SaaS recurring revenue to expand margins [77] Management Commentary on Operating Environment and Future Outlook - Management cautious about full-year outlook due to uncertainties in the back half of 2024, including U.S. elections and geopolitical tensions [12][13] - Updated guidance centers on the upper end of the ranges for issuance and revenue growth, with potential upside from M&A activity [13][47] - FX assumptions adjusted due to U.S. dollar appreciation, impacting MA revenue outlook [31] Other Important Information - Free cash flow conversion to GAAP net income exceeded 120%, with quarterly free cash flow of nearly $700 million, the highest on record [24] - Shareholder returns expected to exceed $1.6 billion in 2024 through share repurchases and dividends [9] - New CFO Noemie Heuland emphasized the company's strong financial profile, including 13% adjusted diluted EPS growth and high return on tangible assets [22] Q&A Session Summary Question: MA performance and customer pressures [33] - MA revenue growth of 8% in Q1, with strong demand for data solutions and KYC, but Research & Insights impacted by timing and SaaS transition [34] - Retention rate remains strong at 94%, with ARR growth expected to reach low double digits for the full year [34][35] Question: End-market exposures and client pressures in MA [38] - Financial institutions focused on digitization and automation, with GenAI seen as a way to accelerate transformation and address cost pressures [39][40] - Demand for 360-degree view of business relationships, driven by regulatory requirements and supplier resilience, supports MA's value proposition [41][42] Question: MIS issuance guidance and M&A activity [43] - Significant pull-forward of issuance in Q1, with potential upside from M&A activity and sponsor-backed deals [45][47] - Downside risks include inflation, Fed rate cuts, and geopolitical tensions, leading to a measured outlook for issuance [48] Question: Pull-forward of refinancing issuance [71] - Majority of Q1 issuance was refinancing, with potential for new money transactions to support M&A in the back half of the year [72][75] Question: AI frameworks and monetization strategies [54] - GenAI-enabled solutions categorized into navigators, skills, and assistance, with different monetization models, including subscription increases and consumption-based pricing [55][58] Question: Margins and reinvestment plans [60] - MIS adjusted operating margin increased by 50 bps for the full year, while MA margin remains unchanged despite revenue headwinds [61] - No significant upsizing of the investment program despite strong Q1 performance [62] Question: MA revenue guide change and FX impact [63] - MA revenue outlook adjusted primarily due to FX impact from U.S. dollar appreciation, with ARR growth expectations unchanged [63][65] Question: Research & Insights performance and outlook [66] - ARR growth in Research & Insights expected to accelerate in the back half of 2024, driven by CreditView coverage expansion and Research Assistant adoption [67][69] Question: Private credit as a percentage of MIS revenue [99] - Private credit-related revenue is growing quickly but remains a smaller portion of MIS revenue, with significant relationships with alternative asset managers [100][101] Question: KYC growth and ARR trends [103] - KYC revenue growth accelerating, driven by product innovation and broadening demand for solutions beyond traditional KYC [104][106] - ARR growth remains strong, reflecting underlying business trends [107]

Moody's (MCO) reported first-quarter 2024 adjusted earnings of $3.37 per share, which outpaced the Zacks Consensus Estimate of $3.06. The bottom line also grew 13% from the year-ago quarter figure.Improvement in global bond issuance volumes and steady demand for analytics supported Moody’s results. The company’s liquidity position was robust during the quarter. However, an increase in operating expenses posed a headwind.After taking into consideration certain non-recurring items, net income attributable to ...

Moody's (MCO) came out with quarterly earnings of $3.37 per share, beating the Zacks Consensus Estimate of $3.06 per share. This compares to earnings of $2.99 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 10.13%. A quarter ago, it was expected that this credit ratings agency would post earnings of $2.34 per share when it actually produced earnings of $2.19, delivering a surprise of -6.41%.Over the last four quarters, the com ...

MOODY'S CORPORATION REPORTS RESULTS FOR FIRST QUARTER 2024 NEW YORK, NY - May 2, 2024 - Moody's Corporation (NYSE: MCO) today announced results for the first quarter of 2024, and updated select metrics within its outlook for full year 2024. FIRST QUARTER SUMMARY FINANCIALS Moody’s Corporation Moody’s Analytics Moody’s Investors Service (MCO) Revenue (MA) Revenue (MIS) Revenue 1Q 2024 1Q 2024 1Q 2024 $1.8 billion ⇑ 21% $799 million ⇑ 8% $987 million ⇑ 35% MCO Diluted EPS MCO Adjusted Diluted EPS1 MCO FY 2024 ...

Core Insights - Moody's is expected to report quarterly earnings of $3.06 per share, reflecting a 2.3% increase year-over-year, with revenues projected at $1.73 billion, a 17.9% increase compared to the previous year [1] - The consensus EPS estimate has been adjusted downward by 0.3% over the past 30 days, indicating a reassessment by analysts [1] Revenue Estimates - Analysts project 'Revenue- Total external customers- Moody's Analytics' to reach $806.74 million, a 9.5% increase from the prior-year quarter [2] - 'Revenue- Total external customers- Moody's investor services' is expected to be $874.35 million, indicating a year-over-year change of 19.3% [2] - 'Revenue- Moody's investor services- Relationship' is estimated at $312.42 million, suggesting a 3.5% year-over-year increase [2] Additional Revenue Projections - 'Revenue- Moody's investor services- Transaction' is likely to reach $605.12 million, reflecting a significant 40.4% increase from the year-ago quarter [3] - The overall 'Revenue- Moody's investor services' is expected to be $913.86 million, indicating a 17.5% year-over-year change [3] - 'Revenue- Moody's Analytics' is projected at $809.92 million, a 9.5% increase from the prior-year quarter [3] - 'Revenue- Moody's investor services- Public, project and infrastructure finance' is estimated at $138.92 million, a 7.7% increase year-over-year [3] - 'Revenue- Moody's investor services- Financial institutions' is forecasted to reach $151.75 million, indicating a 6.9% increase from the previous year [3] Further Revenue Insights - 'Revenue- Moody's investor services- Structured finance' is expected to be $121.94 million, reflecting a 23.2% year-over-year change [4] - 'Revenue- Moody's investor services- Corporate finance' is projected at $454.13 million, indicating a 27.6% increase from the prior-year quarter [4] - The estimate for 'Revenue- Moody's investor services- MIS Other' stands at $7.28 million, suggesting a 4% year-over-year change [4] - 'Adjusted Operating income / (loss)- Moody's Analytics' is estimated at $240.10 million, compared to $214 million from the previous year [4] Stock Performance - Over the past month, shares of Moody's have returned -4.3%, compared to the Zacks S&P 500 composite's -2% [5] - Moody's currently holds a Zacks Rank 3 (Hold), indicating that its performance may align with the overall market in the near future [5]

Core Viewpoint - Moody's is expected to report strong revenue growth in Q1 2024, driven by robust issuance activity across various sectors, despite rising yields and uncertain interest rate cuts by the Federal Reserve [1][2]. Group 1: Revenue Performance - The Corporate Finance line is projected to generate revenues of $454.1 million, reflecting a 27.6% increase year-over-year [2]. - The Financial Institutions business line is estimated to achieve revenues of $151.7 million, indicating a 6.9% growth [2]. - The Public, Project and Infrastructure Finance business is expected to see revenues of $138.9 million, suggesting a 7.7% increase [2]. - Structured Finance revenues are anticipated to reach $121.9 million, representing a 23.2% growth [2]. - Overall revenues for the Moody's Investors Service division are estimated at $913.9 million, implying a 17.5% rise [2]. Group 2: Moody's Analytics Division - The Moody's Analytics division is expected to report revenues of $809.9 million, indicating a 9.4% increase from the prior year, supported by rising demand for analytics and inorganic growth strategies [3]. Group 3: Expenses and Earnings Expectations - Expenses are likely to increase due to strategic acquisition charges, restructuring costs, and inflationary pressures [3]. - The consensus estimate for Moody's Q1 earnings is $3.06, revised up by 8.9% over the past 30 days, reflecting a 2.3% rise from the previous year [4]. - Sales are projected to reach $1.73 billion, suggesting a 17.9% year-over-year growth [4].

Moody's (MCO) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the stock may move l ...

【纽约社区银行获穆迪上调信用评级 此前姆努钦牵头财团注资】财联社3月16日电，穆迪投资者服务公司上调纽约社区银行的信用评级，此前这家陷入困境的银行获得了姆努钦牵头财团的注资。不过，该行评级仍属垃圾级。穆迪将该行的长期发行人评级从B3上调至B2，仍比投资级低五级。这家信用评级公司在其上调理由中还提到，该行年报包含无保留审计意见，这意味着审计师认为该公司的财务报表实现公允反映。穆迪2月份曾下调该行评级至垃圾级，本月早些时候又进一步下调。 ...