Raising FY 2014 non-GAAP EPS guidance range to $3.95 to $4.05
Moody’s Corporation (NYSE:MCO) announced new full-year 2014 guidance. Full-year 2014 non-GAAP EPS guidance is now in the range of $3.95 to $4.05, which excludes a $0.36 gain resulting from Moody’s acquisition of a controlling interest in ICRA Ltd. in the second quarter of 2014. Moody’s non-GAAP EPS guidance includes costs related to our acquisitions of WebEquity and a majority stake in ICRA. Non-GAAP EPS guidance now also includes costs related to our acquisition of the remaining outstanding shares of Copal Amba, which Moody’s expects to finalize in the fourth quarter of 2014. Full-year 2014 total share repurchases are now expected to be up to $1.25 billion, subject to available cash, market conditions and other ongoing capital allocation decisions.
Certain components of Moody’s 2014 revenue guidance have been modified to reflect the Company’s current view of business conditions. While global Moody’s Investors Service (“MIS”) revenue for full-year 2014 is still expected to increase in the high-single-digit percent range, U.S. and non-U.S. MIS revenues are now expected to increase in the high-single-digit percent range and low-double-digit percent range, respectively. MIS financial institutions ratings revenue is now expected to grow in the mid-single-digit percent range.
Source: Moody’s Press Release
