NYSE$MCO
Moody's Corp. · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Moody's reported strong first-quarter results, marked by significant revenue growth and improved earnings per share.
Moody's Corporation reported a strong first quarter in 2024, with revenue increasing by 21% to $1.8 billion. Moody's Investors Service (MIS) revenue grew by 35%, and Moody's Analytics (MA) revenue increased by 8%. The company's diluted EPS was $3.15, and adjusted diluted EPS was $3.37. Moody's has narrowed its Adjusted Diluted EPS guidance to be in the range of $10.40 to $11.00.
- Revenue increased by 21% compared to the prior-year period.
- Moody’s Investors Service revenue grew 35%, driven by improved market conditions.
- Moody’s Analytics revenue increased by 8%, with ARR growing by 10%.
- Adjusted Diluted EPS guidance narrowed to a range of $10.40 to $11.00.
Headline financials
Revenue & EPS history
Moody's · Revenue · Quarterly
$1.79B
Revenue by segment
Moody's · $4.48B total across 10 segments · Q2 2026
- Moody's Investors Service$1.26B—28.1%
- Moody's Analytics$925M—20.7%
- Corporate Finance$651M—14.5%
- Decision Solutions$423M—9.4%
- Research and Insights$256M—5.7%
- Data and Information$246M—5.5%
- Public, Project and Infrastructure Finance$224M—5.0%
- Financial Institutions$222M—5.0%
- Structured Finance$151M—3.4%
- KYC$121M—2.7%
Forward guidance
Moody's updated outlook for full year 2024 reflects assumptions about numerous factors that could affect its business and is based on currently available information reviewed by management.
Tailwinds
- Revenue: Increase in the high-single-digit to low-double-digit percent range
- Operating Expenses: Increase in the mid-to-high-single-digit percent range
- Adjusted Operating Margin: 44% to 46%
- Operating Cash Flow: $2.3 to $2.5 billion
- Free Cash Flow: $1.9 to $2.1 billion
Headwinds
- Operating Margin: 37% to 39%
- Interest Expense, Net: $240 - $260 million
- Effective Tax Rate: 22% to 24%
- Diluted EPS: $9.55 to $10.15
- Share Repurchases: Approximately $1.0 billion (subject to available cash, market conditions, M&A opportunities, and other ongoing capital allocation decisions)
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
+0.1%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+1.0%
Avg return
30 days after
60%
44 / 73 earnings
Positive
+13.5%
Q2 2012
Best reaction
-8.9%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | +3.8% | +0.3% | -2.3% | |
| Q4 2025 | +6.6% | +3.3% | +2.8% | |
| Q3 2025 | -2.6% | +2.1% | -1.1% | |
| Q2 2025 | +0.0% | -1.8% | -1.7% | |
| Q1 2025 | +4.0% | +6.1% | +14.1% | |
| Q4 2024 | +4.4% | +2.8% | -11.6% | |
| Q3 2024 | -3.7% | -5.0% | -1.9% | |
| Q2 2024 | -3.7% | -0.4% | +6.6% | |
| Q1 2024 | +2.1% | +5.7% | +6.5% | |
| Q4 2023 | -8.6% | -7.6% | -4.4% | |
| Q3 2023 | +1.5% | +0.2% | +18.6% | |
| Q2 2023 | +0.7% | -1.0% | -7.2% | |
| Q1 2023 | +0.8% | +3.5% | +2.3% | |
| Q4 2022 | +2.9% | +3.2% | -7.6% | |
| Q3 2022 | +4.9% | +9.8% | +21.6% | |
| Q2 2022 | +1.0% | +6.8% | +5.3% | |
| Q1 2022 | -2.2% | -5.1% | -10.8% | |
| Q4 2021 | -3.2% | -3.9% | -11.3% | |
| Q3 2021 | +2.9% | -0.5% | -2.2% | |
| Q2 2021 | +0.6% | -0.6% | +0.7% | |
| Q1 2021 | +1.1% | +0.9% | +2.7% | |
| Q4 2020 | +0.6% | +0.7% | +4.7% | |
| Q3 2020 | +0.4% | +2.8% | +5.9% | |
| Q2 2020 | -3.5% | -5.3% | +1.0% | |
| Q1 2020 | -5.2% | -1.8% | +4.9% | |
| Q4 2019 | +0.7% | +2.5% | -21.4% | |
| Q3 2019 | +0.1% | -1.1% | +2.8% | |
| Q2 2019 | +6.8% | +0.2% | +6.6% | |
| Q1 2019 | +2.4% | +3.2% | -1.9% | |
| Q4 2018 | +2.6% | +3.5% | +7.9% | |
| Q3 2018 | -8.9% | -6.2% | -3.1% | |
| Q2 2018 | -8.0% | -7.8% | -6.7% | |
| Q1 2018 | -1.5% | -1.2% | +5.7% | |
| Q4 2017 | +4.7% | +7.5% | +11.8% | |
| Q3 2017 | +0.7% | +1.0% | +5.4% | |
| Q2 2017 | +5.0% | +4.8% | +2.6% | |
| Q1 2017 | -2.3% | -2.3% | -0.5% | |
| Q4 2016 | +2.4% | +3.0% | +1.6% | |
| Q3 2016 | -4.9% | -5.5% | -7.0% | |
| Q2 2016 | +1.3% | +0.8% | +0.3% | |
| Q1 2016 | -3.1% | — | — | |
| Q4 2015 | -8.9% | — | — | |
| Q3 2015 | -5.0% | — | — | |
| Q2 2015 | -1.3% | — | — | |
| Q1 2015 | +0.8% | — | — | |
| Q4 2014 | +5.0% | — | — | |
| Q3 2014 | +2.3% | — | — | |
| Q2 2014 | -1.6% | — | — | |
| Q1 2014 | -1.6% | — | — | |
| Q4 2013 | +3.3% | — | — | |
| Q3 2013 | -3.7% | — | — | |
| Q2 2013 | +3.6% | — | — | |
| Q1 2013 | +4.9% | — | — | |
| Q4 2012 | -3.2% | — | — | |
| Q3 2012 | +5.3% | — | — | |
| Q2 2012 | +13.5% | — | — | |
| Q1 2012 | -1.0% | — | — | |
| Q4 2011 | -0.6% | — | — | |
| Q3 2011 | +2.0% | — | — | |
| Q2 2011 | -2.2% | — | — | |
| Q1 2011 | +0.3% | — | — | |
| Q4 2010 | +0.4% | — | — | |
| Q3 2010 | -0.2% | — | — | |
| Q2 2010 | +1.4% | — | — | |
| Q1 2009 | -7.5% | — | — | |
| Q1 2010 | -2.8% | — | — | |
| Q4 2007 | +2.2% | — | — | |
| Q4 2009 | +2.2% | — | — | |
| Q2 2009 | +2.2% | — | — | |
| Q3 2008 | +2.0% | — | — | |
| Q3 2009 | +2.0% | — | — | |
| Q2 2008 | -4.9% | — | — | |
| Q4 2008 | -4.9% | — | — |
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