Moody’s Corporation (NYSE: MCO) today announced results for the third quarter of 2024, and updated its outlook for full year 2024.
“Moody’s record-breaking revenue performance in the third quarter is a testament to our unwavering status as the Agency of Choice for our customers and our actions to prime the business for durable future growth. In parallel, we delivered strong recurring revenue growth in our analytics business, driven by investments and innovation that enhance our offerings and empower our customers with the insights necessary to navigate the complexities of an increasingly dynamic risk environment.”
—Rob Fauber, President and Chief Executive Officer
“This was a fantastic quarter for Moody’s, with revenue increasing 23%. MIS transactional revenue grew 70%, outpacing issuance growth of 51% and driving a 29% increase in operating cash flow. As a result of this remarkable performance, we are raising our adjusted diluted EPS1 guidance and narrowing the range to $11.90 to $12.102.”
—Noémie Heuland, Chief Financial Officer
ASSUMPTIONS AND OUTLOOK
Moody’s updated outlook for full year 2024, as of October 22, 2024, reflects assumptions about numerous factors that could affect its business and is based on currently available information reviewed by management through, and as of, today’s date. These assumptions include, but are not limited to, the effects of current economic conditions, including the effects of interest rates, inflation, foreign currency exchange rates, capital markets’ liquidity, and activity in different sectors of the debt markets. This outlook also reflects assumptions about global GDP growth, and the impacts resulting from changes in international conditions, including as a result of the Russia-Ukraine military conflict and the military conflict in the Middle East. Actual full year 2024 results could differ materially from Moody’s current outlook.
Source: Moody’s Earnings Release
