Moody's Slashes FY22 Outlook - Update

(RTTNews) - While reporting financial results for the third quarter on Tuesday, Moody's Corp. (MCO) slashed its earnings, adjusted earnings and revenue growth guidance for the full-year 2022.

For fiscal 2022, the company now expects earnings in a range of $6.90 to $7.20 per share and adjusted earnings in the range of $8.20 to $8.50 per share on projected revenue decline in the low-double-digit percent range.

Previously, the company projected earnings in a range of $8.10 to $8.60 per share and adjusted earnings in the range of $9.20 to $9.70 per share on projected revenue decline in the high-single-digit percent range.

On average, 17 analysts polled by Thomson Reuters expect earnings of $9.24 per share on a revenue decline of 9.0 percent to $5.66 billion for the year. Analysts' estimates typically exclude special items.

On Monday, the Board of Directors also declared a regular quarterly dividend of $0.70 per share of MCO Common Stock, payable on December 14, 2022 to stockholders of record at the close of business on November 23, 2022. For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com