MCO - Moody's Corporation (MCO) Q1 2024 Earnings Call Transcript
2024-05-02 14:57:08 ET
Moody's Corporation (MCO)
Q1 2024 Results Conference Call
May 02, 2024 11:30 AM ET
Company Participants
Shivani Kak - Head of Investor Relations
Rob Fauber - President and Chief Executive Officer
Noemie Heuland - Senior Vice President & Chief Financial Officer
Conference Call Participants
Heather Balsky - Bank of America
Manav Patnaik - Barclays
Toni Kaplan - Morgan Stanley
Ashish Sabadra - RBC Capital Markets
Andrew Nicholas - William Blair
Scott Wurtzel - Wolfe Research
Faiza Alwy - Deutsche Bank
Jeff Silber - BMO Capital Markets
George Tong - Goldman Sachs
Craig Huber - Huber Research
Jeff Meuler - Baird
Andrew Steinerman - JPMorgan
Russell Quelch - Redburn
Owen Lau - Oppenheimer
Craig Huber - Huber Research
Shlomo Rosenbaum - Stifel
Presentation
Operator
Good day, everyone, and welcome to the Moody's Corporation First Quarter 2024 Earnings Call. At this time, I would like to inform you that this conference is being recorded, and that all participants are in a listen-only mode. At the request of the Company, we will open the conference up for question and answers following the presentation.
I will now turn the call over to Shivani Kak, Head of Investor Relations. Please go ahead.
Shivani Kak
Thank you. Good morning and thank you for joining us today. I'm Shivani Kak, Head of Investor Relations. This morning, Moody's released its results for the first quarter 2024 as well as our revised outlook for select metrics for full year 2024. The earnings press release and the presentation to accompany this teleconference are both available on our website at ir.moodys.com.
During this call, we will also be presenting non-GAAP or adjusted figures. Please refer to the tables at the end of our earnings press release filed this morning for a reconciliation between all adjusted measures referenced during this call in U.S. GAAP. I call your attention to the safe harbor language, which can be found towards the end of our earnings release. Today's remarks may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
In accordance with the act, I also direct your attention to the Management's Discussion & Analysis section and the risk factors discussed in our annual report on Form 10-K for the year ended December 31, 2023, and in other SEC filings made by the Company, which are available on our website and on the SEC's website. These, together with the safe harbor statement, set forth important factors that could cause actual results to differ materially from those contained in any such forward-looking statements. I'd also like to point out that members of the media may be on the call this morning in a listen-only mode.
I'll now turn the call over to Rob.
Rob Fauber
Thanks, Shivani. Good morning and thanks, everybody, for joining today's call. Before I touch on a few key takeaways from our first quarter results. I'm going to start by saying how excited I am joined today by Noemie Heuland, who officially joined Moody's on April 1.
And as I mentioned on our last earnings call, Noemie brings almost 25 years of global financial and accounting leadership experience at some very large public companies with a real depth of experience in technology and Software as a Service. And we're really fortunate to have her as our Chief Financial Officer, and I look forward to all of you getting to know her in the coming weeks and months.
So, with that, let me turn to our first quarter results. We delivered an impressive 21% revenue growth, capitalizing on a strong issuance environment and continued demand for our leading risk assessment solutions. We delivered strong top line performance and margin expansion in both businesses, and that translated to adjusted diluted EPS of $3.37 for the quarter....
Moody's Corporation (MCO) Q1 2024 Earnings Call Transcript