Moody's Q3 Profit Flat, Tops Estimates; Updates FY13 Adj. EPS View - Quick Facts

(RTTNews) - Moody's Corp. (MCO) reported that its third-quarter of 2013 net income attributable to the company was $183.9 million, unchanged from last year.

Earnings per share of $0.83 increased 2% from GAAP earnings per share of $0.81 in the third quarter of 2012 and increased 11% from non-GAAP earnings per share in the prior-year period of $0.75, which excludes a legacy tax benefit of $0.06 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $0.82 per share for the quarter. Analysts' estimates typically exclude special items.

Net income for the quarter was $186.8 million, compared to $186.5 million last year.

Quarterly revenue was $705.5 million, up 2% from $688.5 million in the third quarter of 2012. Six analysts estimated revenues of $715.19 million for the quarter.

The company now expects its full-year 2013 non-GAAP earnings per share, which excludes the impact of the litigation settlement charge, to be in the range of $3.51 to $3.57, compared to prior estimate of $3.49 - $3.59 per share. It expects GAAP earnings per share to be between $3.37 and $3.43.

For Moody's overall, the Company still expects full-year 2013 revenue to grow in the high-single-digit percent range.

Analysts expect the company to report earnings of $3.60 per share and revenues of $2.96 billion for fiscal 2013.

Full-year 2013 total share repurchases are still expected to be approximately $1 billion, subject to available cash, market conditions and other ongoing capital allocation decisions.