Moody's Corp. (MCO) Tops Q2 EPS by 60c, Revenues Beat; Offers FY20 EPS Guidance Above Consensus

Moody's Corp. (NYSE: MCO) reported Q2 EPS of $2.81, $0.60 better than the analyst estimate of $2.21. Revenue for the quarter came in at $1.4 billion versus the consensus estimate of $1.24 billion.

• Moody's Corporation 2Q20 revenue of $1.4 billion, up 18% from 2Q19
• Moody's Investors Servicerevenue of $938 million, up 27%; Moody's Analytics revenue of $497 million up 5%
• 2Q20 diluted EPS of $2.69 up 66% from 2Q19; adjusted diluted EPS of $2.81 up 36%1
• FY 2020 guidance range for diluted EPS raised to $8.15 to $8.55; adjusted diluted EPS guidance raised to $8.80 to $9.20

“The strength of Moody's is in our people, and I would like to thank our employees around the world for their dedication during this challenging time in support of Moody’s stakeholders. Our mission, to provide trusted insights and standards that help decision makers act with confidence, has never been more relevant, and our operating results reflect that,” said Raymond McDaniel, President and Chief Executive Officer of Moody’s. “Moody's Investors Service exhibited robust top-line growth as issuers continued to seek liquidity amid broadly receptive credit market conditions. Furthermore, Moody's Analytics growth remained resilient as its transition to subscription-based products progressed. As the second quarter exceeded our expectations, we are raising and narrowing our full year 2020 adjusted diluted EPS guidance range to $8.80 to $9.20, while still expecting debt issuance to taper in the second half of the year.”

GUIDANCE:

Moody's Corp. sees FY2020 EPS of $8.80-$9.20, versus the consensus of $8.66.

For earnings history and earnings-related data on Moody's Corp. (MCO) click here.

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