Moody's Corporation Reports Results for Third Quarter 2022

Rhea-AI Summary

Moody's Corporation (NYSE: MCO) reported its third-quarter earnings for 2022, revealing significant growth in its Analytics division but a decline in revenue from its Investors Service due to reduced global debt issuance. CEO Rob Fauber emphasized the need for financial discipline amidst market volatility, inflation, and geopolitical tensions. Moody's plans to accelerate its Geolocation Restructuring Program to streamline expenses while remaining cautious about credit market activity for the rest of the year. Adjusted diluted EPS guidance has been updated to reflect these challenges.

Positive

• Moody's Analytics delivered impressive growth in Q3 2022.
• Strong suite of data and digital insights helped customers manage risks.

Negative

• Investors Service revenue declined sharply due to decreased global debt issuance.
• Ongoing market volatility, persistent inflation, and geopolitical tensions impacted performance.
• Updated guidance reflects cautious outlook for credit market activity.

NEW YORK--(BUSINESS WIRE)-- Moody's Corporation (NYSE: MCO) today announced results for the third quarter of 2022 and updated its outlook for full year 2022.

The Third Quarter 2022 Earnings Release and other earnings materials can be found on the Moody’s IR website at ir.moodys.com. In addition, the earnings release will be furnished with the Securities and Exchange Commission (SEC) on a Form 8-K and will be available on the SEC website at www.sec.gov.

“Moody’s plays a vital role in helping our customers navigate increasingly dynamic times,” said Rob Fauber, President and Chief Executive Officer of Moody’s. “In this context, Moody’s Analytics again delivered impressive growth this quarter as our suite of data, digital insights and decision solutions helped customers identify and manage their risks. However, Moody’s Investors Service’s revenue was meaningfully impacted as global debt issuance declined sharply amid ongoing market volatility, persistent inflation and geopolitical tensions. We continue to prioritize financial discipline, as we balance our short-term performance with executing on our long-term integrated risk assessment strategy. Despite the strong performance of Moody’s Analytics, we recognize the need to take decisive actions to control and streamline our expense base. We are accelerating the Geolocation Restructuring Program announced last quarter and expanding it to include additional savings. In light of the ongoing macro uncertainties, we remain cautious about credit market activity for the remainder of 2022 and have reflected this in our updated full year 2022 adjusted diluted EPS guidance range.”

CONFERENCE CALL

Date and Time	October 25, 2022, at 12:30 p.m. Eastern Time (ET).
Webcast	The webcast and its replay can be accessed through Moody’s Investor Relations website, ir.moodys.com, within “Events & Presentations”.
Dial in	U.S. and Canada	+1-888-330-2508
	Other callers	+1-240-789-2735
	Passcode	9302427
Dial In Replay	A replay will be available immediately after the call on October 25, 2022 and until November 24, 2022.
	U.S. and Canada	+1-800-770-2030
	Other callers	+1-647-362-9199
	Passcode	9302427

ABOUT MOODY'S CORPORATION

Moody’s (NYSE: MCO) is a global integrated risk assessment firm that empowers organizations to make better decisions. Its data, analytical solutions and insights help decision-makers identify opportunities and manage the risks of doing business with others. We believe that greater transparency, more informed decisions, and fair access to information open the door to shared progress. With approximately 14,000 employees in more than 40 countries, Moody’s combines international presence with local expertise and over a century of experience in financial markets. Learn more at moodys.com/about.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221025005417/en/

SHIVANI KAK

Investor Relations

212.553.0298

shivani.kak@moodys.com

MICHAEL ADLER

Corporate Communications

212.553.4667

michael.adler@moodys.com

moodys.com

ir.moodys.com

moodys.com/esg

moodys.com/sustainability

Source: Moody’s Corporation Investor Relations

FAQ

What are the Q3 2022 earnings results for Moody's Corporation (MCO)?

Moody's reported impressive growth in its Analytics division but a decline in revenue from Investors Service due to decreased global debt issuance.

How did global market conditions affect Moody's Corporation (MCO) in Q3 2022?

Persistent inflation, market volatility, and geopolitical tensions negatively impacted revenue from Investors Service.

What is the updated EPS guidance for Moody's Corporation (MCO) for 2022?

Moody's updated its adjusted diluted EPS guidance to reflect ongoing uncertainties in the credit markets.

When is the conference call for Moody's Corporation (MCO) Q3 2022 earnings?

The conference call is scheduled for October 25, 2022, at 12:30 p.m. Eastern Time.