Moody's Reaffirms 2016 EPS View

(RTTNews) - Moody's Corp. (MCO) reaffirmed its full year 2016 earnings per share guidance of $4.55 to $4.65 and expects to be toward the lower end of the range. Analysts polled by Thomson Reuters expect the company to report earnings of $4.58 per share for fiscal year 2016. Analysts' estimates typically exclude special items.

Moody's full year 2016 revenue is still expected to increase in the low-single-digit percent range. Operating expense is still expected to increase in the mid-single-digit percent range.

Free cash flow is still expected to be approximately $1 billion. Moody's still expects share repurchases to be approximately $1 billion, subject to available cash, market conditions and other ongoing capital allocation decisions. Capital expenditures are still expected to be approximately $125 million. Depreciation and amortization expense is still expected to be approximately $130 million.

For MIS, Moody's now expects 2016 revenue to decrease in the low-single-digit percent range. US revenue is still expected to decrease in the low-single-digit percent range, while non-US revenue is now also expected to decrease in the low-single-digit percent range.

For MA, 2016 revenue is now expected to increase in the mid-single-digit percent range primarily due to the unfavorable impact of foreign currency translation. US revenue is still expected to increase in the low-double-digit percent range, while non-US revenue is now expected to increase in the low-single-digit percent range.