Moody's Reaffirms Full Year Adj. EPS Guidance Range

(RTTNews) - Moody's Corp. (MCO) reported that its third quarter adjusted EPS grew 31%, while reported revenue rose 15%, year-over-year. Looking forward, the company continues to project full year 2023 revenue increase in the high-single-digit percent range. Adjusted EPS guidance remains at $9.75 to $10.25.

Third quarter earnings totaled $389 million, or $2.11 per share compared with $303 million, or $1.65 per share, in last year's third quarter. Excluding items, adjusted earnings per share was $2.43 compared to $1.85. Analysts on average had expected the company to earn $2.31 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.8% to $1.47 billion from $1.28 billion last year. Analysts on average had estimated $1.47 billion in revenue.

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