Moody's Surpasses Q3 Forecasts, Elevates Year-End Outlook

NEW YORK - Moody's Corporation (NYSE:MCO) reported third-quarter earnings that exceeded analyst expectations and raised its year-end guidance, leading to a 0.98% increase in the company's shares during early trading. The credit rating and financial services firm announced an adjusted earnings per share of $3.21 for the quarter, surpassing the $2.87 analyst estimate by $0.34. Revenue amounted to $1.81 billion, surpassing forecasts of $1.71 billion, marking a record-breaking performance for the company.

Moody's also raised its full-year earnings guidance for 2024 to a range of $11.90 to $12.10 per share, topping the previous analyst estimate of $11.69. The midpoint of the new guidance, $12.00, is 2.7% above the consensus estimate.

Moody's President and CEO Rob Fauber stated, "Moody's record-breaking revenue performance in the third quarter is a testament to our unwavering position as the Preferred Institution for our customers and our actions to prepare the business for enduring future growth."

Fauber highlighted the strong recurring revenue growth in the company's analytics business, attributing it to investments and innovations that enhance offerings and provide insights for customers navigating an increasingly dynamic risk environment.

The company's strong results and optimistic outlook reflect its ability to capitalize on rising demand for financial risk assessment and data analytics services amid an uncertain economic climate. Moody's serves a diverse global customer base in over 40 countries, offering comprehensive risk perspectives to help clients make informed decisions.