Moody's Narrows FY24 Outlook Range - Update

(RTTNews) - While reporting financial results for the first quarter on Thursday, Moody's Corp. (MCO) narrowed its earnings, adjusted earnings and revenue growth guidance range for the full-year 2024.

For fiscal 2024, the company now expects earnings in a range of $9.55 to $10.15 per share and adjusted earnings in the range of $10.40 to $11.00 per share on projected revenue growth in the high-single-digit to low-double-digit percent range.

Previously, the company projected earnings in a range of $9.45 to $10.20 per share and adjusted earnings in the range of $10.25 to $11.00 per share on projected revenue growth in the high-single to low-double-digit percent range.

On average, 20 analysts polled by Thomson Reuters expect earnings of $10.71 per share on a revenue decline of 10.6 percent to $6.54 billion for the year. Analysts' estimates typically exclude special items.

On Friday, the Board of Directors also declared a regular quarterly dividend of $0.85 per share of MCO Common Stock, payable on June 7, 2024, to stockholders of record at the close of business on May 17, 2024.

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