2024-07-23 07:08:26 ET
- Moody's press release ( NYSE: MCO ): Q2 Non-GAAP EPS of $3.28 beats by $0.26 .
- Revenue of $1.8B (+20.8% Y/Y) beats by $80M .
- Moody’s updated outlook for full year 2024, as of July 23, 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.
Full Year 2024 Moody's Corporation Guidance as of July 23, 2024 MOODY'S CORPORATION Last Publicly Disclosed Guidance Current Guidance Revenue Increase in the high-single-digit to low-double-digit percent range Increase in the low-teens percent range vs 11.99% Y/Y consensus Operating Expenses Increase in the mid-to-high-single-digit percent range Increase in the high-single-digit percent range Operating Margin 37% to 39% Approximately 39% Adjusted Operating Margin (1) 44% to 46% 46% to 47% Interest Expense, Net $240 - $260 million NC Effective Tax Rate 22% to 24% NC Diluted EPS (2) $9.55 to $10.15 $9.95 to $10.35 Adjusted Diluted EPS (1) $10.40 to $11.00 $11.00 to $11.40 vs. $11.05 consensus Operating Cash Flow $2.3 to $2.5 billion $2.4 to $2.6 billion Free Cash Flow (1) $1.9 to $2.1 billion $2.0 to $2.2 billion Share Repurchases Approximately $1.0 billion (subject to available cash, market conditions, M&A opportunities, and other ongoing capital allocation decisions) Approximately $1.3 billion (subject to available cash, market conditions, M&A opportunities, and other ongoing capital allocation decisions)
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Moody's beats top-line and bottom-line estimates; updates FY24 outlook