Moody's Corporation (MCO) has projected that its adjusted EPS (Earnings Per Share) for the year 2024 will range between $10.25 and $11.00, marking a 24% increase from 2022. The projected EPS stands between $9.45 and $10.20. The company also anticipates an increase in revenue in the high-single to low-double-digit percent range.
In terms of medium-term expectations, the corporation expects to see a low-double-digit percent growth in adjusted EPS and a minimum of 10% growth in revenue.
Looking back at their figures for the fourth quarter, Moody's reported a bottom line of $340 million or $1.85 per share. This stands in contrast to the $246 million, or $1.34 per share recorded in the same period the previous year. The company's adjusted EPS was $2.19, compared to the previous year's $1.60. Notably, company analysts had predicted an earning of $2.32 per share, based on numbers compiled by Thomson Reuters. These estimates usually exclude exceptional items.
Revenue during this fourth quarter saw a rise of 14.7%, increasing to $1.48 billion from $1.29 billion the year before. Again, this matched the average analyst estimate of $1.48 billion.
However, despite these positive figures, Moody's shares were down by 3% in pre-market trading on Tuesday.
