Moody's Boosts FY24 Outlook - Update

(RTTNews) - While reporting financial results for the third quarter on Tuesday, Moody's Corp. (MCO) raised 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 $10.85 to $11.05 per share and adjusted earnings in the range of $11.90 to $12.10 per share on projected revenue growth in the high-teens percent range.

Previously, the company projected earnings in a range of $9.95 to $10.35 per share and adjusted earnings in the range of $11.00 to $11.40 per share on projected revenue growth in the low-teens percent range.

On average, 21 analysts polled by Thomson Reuters expect earnings of $11.69 per share on a revenue decline of 15.6 percent to $6.84 billion for the year. Analysts' estimates typically exclude special items.

On Monday, the Board of Directors also declared a regular quarterly dividend of $0.85 per share of MCO Common Stock, payable on December 13, 2024, to stockholders of record at the close of business on November 22, 2024.

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