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Dec 31, 2020
Moody's Q4 2020 Earnings Report
Moody's reported a revenue increase and a decrease in EPS for Q4 2020.
Key Takeaways
Moody's Corporation reported a 5% increase in revenue to $1.3 billion for Q4 2020. Diluted EPS decreased by 12% to $1.66, while adjusted diluted EPS decreased by 5% to $1.91. The company provided its outlook for full year 2021, projecting diluted EPS of $9.70 to $10.10 and adjusted diluted EPS of $10.30 to $10.70.
Q4 2020 revenue increased by 5% year-over-year to $1.3 billion.
Q4 2020 diluted EPS decreased by 12% year-over-year to $1.66.
Q4 2020 adjusted diluted EPS decreased by 5% year-over-year to $1.91.
The company projects 2021 revenue growth in the mid-single-digit percent range.
Revenue by Segment
Forward Guidance
Moody's provided its outlook for full year 2021. The company expects revenue to increase in the mid-single-digit percent range. Diluted EPS is expected to be $9.70 to $10.10 and adjusted diluted EPS is expected to be $10.30 to $10.70.
Positive Outlook
- Revenue increase in the mid-single-digit percent range
- Operating expenses increase in the mid-single-digit percent range
- Operating margin approximately 45%
- Adjusted operating margin 49% - 50%
- Diluted EPS $9.70 to $10.10
Challenges Ahead
- MIS global revenue approximately flat
- Share repurchases approximately $1.5 billion (subject to available cash, market conditions and other ongoing capital allocation decisions)
- MIS adjusted operating margin approximately 60%
- MA global revenue increase in the low-double-digit percent range
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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