Moody's (MCO) reported $1.48 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 14.7%. EPS of $2.19 for the same period compares to $1.60 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.49 billion, representing a surprise of -0.66%. The company delivered an EPS surprise of -6.41%, with the consensus EPS estimate being $2.34.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how ...

Core Insights - Moody's reported quarterly earnings of $2.19 per share, missing the Zacks Consensus Estimate of $2.34 per share, but showing an increase from $1.60 per share a year ago, resulting in an earnings surprise of -6.41% [1] - The company posted revenues of $1.48 billion for the quarter, which was below the Zacks Consensus Estimate by 0.66%, but up from $1.29 billion year-over-year [1] Earnings Performance - Moody's has surpassed consensus EPS estimates three times over the last four quarters, while it missed the estimate in the latest quarter [1] - The company had a previous quarter earnings expectation of $2.35 per share but reported $2.43, delivering a surprise of 3.40% [1] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $2.87 on revenues of $1.62 billion, and for the current fiscal year, it is $11.27 on revenues of $6.53 billion [4] - The estimate revisions trend for Moody's is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [4] Industry Context - The Financial - Miscellaneous Services industry, to which Moody's belongs, is currently in the bottom 38% of over 250 Zacks industries, which may impact stock performance [5] - Another company in the same industry, PRA Group, is expected to report a quarterly loss of $0.35 per share, reflecting a year-over-year change of -185.4% [5][6]

NEW YORK--(BUSINESS WIRE)--Moody's Corporation (NYSE: MCO) today announced results for the fourth quarter and full year 2023, and provided its outlook for full year 2024. The Fourth Quarter and Full Year 2023 Earnings Release and other earnings materials can be found on the Moody’s IR website at ir.moodys.com. In addition, the Earnings Release will be furnished with the Securities and Exchange Commission (SEC) on a Form 8-K and will be available on the SEC website at www.sec.gov. “ 2023 was a year of trem ...

Moody's (MCO) is scheduled to announce fourth-quarter and full-year 2023 results on Feb 13, before the opening bell. The company’s Corporate Finance line, the largest revenue contributor at the Moody's Investors Service (“MIS”) division, is likely to have witnessed solid revenue performance in the to-be-reported quarter.Global issuance activity was robust in the fourth quarter of 2023 compared with the prior-year quarter. The issuance volume also got boosted by the tightening of corporate spreads in the lat ...

Analysts on Wall Street project that Moody's (MCO) will announce quarterly earnings of $2.34 per share in its forthcoming report, representing an increase of 46.3% year over year. Revenues are projected to reach $1.49 billion, increasing 15.5% from the same quarter last year.Over the last 30 days, there has been an upward revision of 1.5% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts ov ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Moody's (MCO) , which belongs to the Zacks Financial - Miscellaneous Services industry.When looking at the last two reports, this credit ratings agency has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 3.27%, on average, in the last two quarters.For the last reported quarter, Moody's came out with earnings of $ ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Moody's (MCO) reports results for the quarter ended December 2023. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.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 ...

Moody’s Corporation (NYSE:MCO) Q3 2023 Earnings Conference Call October 25, 2023 11:30 AM ET Company Participants Shivani Kak – Head, IR Rob Fauber - President, CEO & Director Caroline Sullivan - Interim CFO Conference Call Participants Heather Balsky – Bank of America Merrill Lynch Faiza Alwy - Deutsche Bank Alexander Kramm - UBS Shlomo Rosenbaum - Stifel, Nicolaus & Company Craig Huber - Huber Research Partners Russell Quelch - Redburn Scott Wurtzel - Wolfe Research Owen Lau - Oppenheimer Ashish Sabadra - ...

Revenue Performance - Revenue for Q3 2023 reached $1,472 million, a 15.5% increase from $1,275 million in Q3 2022[20] - Total revenue for the nine months ended September 30, 2023, was $4,436 million, compared to $4,178 million for the same period in 2022, reflecting an increase of 6.2%[45] - Total external revenue for the MA segment was $776 million and for the MIS segment was $696 million for the three months ended September 30, 2023, resulting in consolidated revenue of $1,472 million, compared to $1,275 million in the same period of 2022, representing a year-over-year increase of 15.5%[137] - The company reported total external revenue of $1,472 million for the three months ended September 30, 2023, compared to $1,275 million for the same period in 2022, representing a year-over-year increase of 15.5%[45] - The MA segment generated $2.260 billion in revenue for the nine months ended September 30, 2023, a 6% increase from $2.120 billion in the prior year[52] Net Income and Earnings - Net income attributable to Moody's for Q3 2023 was $389 million, up 28.4% from $303 million in Q3 2022[20] - Basic earnings per share increased to $2.12 in Q3 2023, compared to $1.65 in Q3 2022, reflecting a 28.5% growth[20] - Net income for the three months ended September 30, 2023, was $390 million, compared to $303 million for the same period in 2022, representing a 28.7% increase[22] - Moody's reported a net income of $1,267 million for the period, with a diluted earnings per share of $2.31[38] Expenses and Operating Income - Total expenses for Q3 2023 were $937 million, up from $862 million in Q3 2022, representing an 8.7% increase[20] - Operating income for the nine months ended September 30, 2023, was $1,639 million, a 3.9% increase from $1,577 million in the same period of 2022[20] - Operating income for the quarter was $535 million, a 30% increase from $413 million in the prior year[157] - Adjusted Operating Income for the MA segment was $262 million and for the MIS segment was $395 million for the three months ended September 30, 2023, totaling $657 million, up from $497 million in the same period of 2022, reflecting a 32.2% increase[137] Cash Flow and Assets - Cash and cash equivalents increased to $2,006 million as of September 30, 2023, up from $1,769 million at the end of 2022[24] - Net cash provided by operating activities for the nine months ended September 30, 2023, was $1,674 million, compared to $1,097 million for the same period in 2022, indicating a 52.5% increase[26] - Total assets as of September 30, 2023, were $14,191 million, a decrease from $14,349 million as of December 31, 2022[24] Shareholder Equity and Dividends - Total shareholders' equity increased to $3,312 million as of September 30, 2023, up from $3,144 million at June 30, 2023[35] - Moody's declared a quarterly dividend of $0.77 per share, payable on December 15, 2023, to shareholders of record as of November 24, 2023[141] - The company declared dividends of $2.31 per share, totaling $425 million for the period[38] Debt and Liabilities - Long-term debt decreased to $6,851 million as of September 30, 2023, from $7,389 million at the end of 2022, reflecting a reduction of 7.3%[24] - Total liabilities decreased to $10,839 million as of September 30, 2023, from $11,660 million at the end of 2022, a reduction of 7.1%[24] - The total liabilities increased to $1.706 billion as of September 30, 2023, compared to $1.653 billion as of December 31, 2022[91] Segment Performance - The company's Decision Solutions segment generated $354 million in revenue for Q3 2023, up from $308 million in Q3 2022, reflecting a growth of 15%[45] - Research and Insights revenue reached $222 million in Q3 2023, an increase from $201 million in Q3 2022, marking a growth of 10.5%[45] - Moody's Corporate Finance segment reported $346 million in revenue for Q3 2023, compared to $277 million in Q3 2022, indicating a significant increase of 25%[45] - Total ratings revenue for Moody's Information Services (MIS) was $689 million for Q3 2023, up from $579 million in Q3 2022, which is a growth of 19%[45] Restructuring and Cost Management - The company expects annualized savings of $145 million to $165 million from the 2022-2023 Geolocation Restructuring Program, which is anticipated to be substantially complete by the end of 2023[98] - The total restructuring costs for the nine months ended September 30, 2023, amounted to $51 million, with $39 million attributed to the 2022-2023 Geolocation Restructuring Program[101] - Cash outlays related to the restructuring program are expected to be between $130 million and $140 million, to be paid through 2024[98] Tax and Compliance - The effective tax rate (ETR) for the nine months ended September 30, 2023, was 14.6%, down from 21.3% in the same period of 2022, representing a decrease of 6.7%[65] - The company was in compliance with all covenants contained within its debt agreements as of September 30, 2023[124] Market Conditions and Strategic Focus - The company continues to face macroeconomic uncertainties, including inflation and higher interest rates, which have contributed to volatility in rated issuance volumes[150] - Moody's aims to integrate sustainability-related performance metrics into the compensation of senior executives, reflecting its commitment to ESG factors[148]

Moody's Corporation (NYSE:MCO) Q2 2023 Earnings Conference Call July 25, 2023 ET Company Participants Shivani Kak – Head-Investor Relations Rob Fauber – President and Chief Executive Officer Mark Kaye – Chief Financial Officer Conference Call Participants Owen Lau – Oppenheimer George Tong – Goldman Sachs Manav Patnaik – Barclays Kevin McVeigh – Credit Suisse Alex Kramm – UBS Ashish Sabadra – RBC Capital Markets Toni Kaplan – Morgan Stanley Andrew Nicholas – William Blair Craig Huber – Huber Research Partne ...