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2Q19 Moody’s Corporation revenue of $1.2 billion up 3% from 2Q18
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Strong 2Q19 Moody’s Analytics revenue of $475.2 million, up 12% from 2Q18; MIS revenue of $738.4 million, second highest quarter on record
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2Q19 diluted EPS of $1.62 down 16% from 2Q18; adjusted diluted EPS of $2.07 up 1%1 from 2Q18
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FY 2019 diluted EPS guidance range is now $7.15 to $7.35; adjusted diluted EPS guidance range is now $7.95 to $8.15
“Moody’s second quarter performance reflected ongoing robust growth at Moody’s Analytics with strength across all business lines, as well as resilience in Moody’s Investors Service despite subdued issuance activity,” said Raymond McDaniel, President and Chief Executive Officer of Moody’s. “In light of first half performance exceeding our expectations, we are increasing our full year 2019 adjusted diluted EPS guidance range to $7.95 to $8.15.”
MCO SECOND QUARTER REVENUE UP 3%
Moody’s Corporation reported record revenue of $1.2 billion for the three months ended June 30, 2019, up 3% from the prior-year period.
U.S. revenue was $637.9 million, up 2%, and non-U.S. revenue was $575.7 million, up 5%. Revenue generated outside the U.S. constituted 47% of total revenue, consistent with the prior-year period. Foreign currency translation unfavorably impacted Moody’s revenue by 2%.
Moody’s Investors Service (MIS) Second Quarter Revenue Down 2%
Revenue for MIS for the second quarter of 2019 was $738.4 million, down 2% from the prior-year period, compared to a 14% decline in issuance activity2. U.S. revenue was $436.2 million, down 3%. Non-U.S. revenue was $302.2 million, approximately flat to the prior-year period, and represented 41% of MIS revenue, up from 40% in the second quarter of 2018. Excluding the impact of foreign currency translation, MIS revenue was flat to the prior-year period. The MIS adjusted operating margin was 60.2%.
Moody’s Analytics (MA) Second Quarter Revenue Up 12%
Revenue for MA for the second quarter of 2019 was $475.2 million, up 12% from the prior-year period. U.S. revenue was $201.7 million, up 16%. Non-U.S. revenue was $273.5 million, up 10%, and represented 58% of MA revenue, down from 59% in the second quarter of 2018. Foreign currency translation unfavorably impacted MA revenue by 3%. Organic MA revenue for the second quarter of 2019, which excluded revenue from the recent acquisitions of Reis and Omega Performance, was $465.3 million, up 10% from the prior-year period. The MA adjusted operating margin was 28.2%.
Source: Moody’s Earnings Release
