Q3 2025 Moody's Corp Earnings Call Transcript
Key Points
- Moodys Corp (MCO) delivered record quarterly revenue, exceeding $2 billion for the first time, marking an 11% increase from the previous year.
- The company raised its full-year guidance across almost all metrics, demonstrating strong financial performance and confidence in future growth.
- Adjusted operating margin improved significantly to nearly 53%, showcasing the company's strong operating leverage.
- The ratings business (MIS) achieved 12% revenue growth, surpassing a billion dollars in quarterly revenue for the third consecutive quarter.
- Moody's Analytics reported strong results with 9% year-over-year revenue growth and a 34.3% adjusted operating margin, reflecting successful cross-initiative results.
- There is ongoing risk from tariffs and trade negotiations, which could impact market conditions and issuance activity.
- The company faces challenges from potential economic slowdowns and geopolitical conflicts, which could affect future growth.
- MIS transaction revenue growth slightly trailed issuance growth due to a high volume of repricing activity, which yields lower revenue.
- The insurance segment within Moody's Analytics faced tough comparisons from previous years, impacting growth expectations.
- There are concerns about the health of the private credit market, which could affect Moody's growth in that area.
Good day everyone and welcome to the Moody's Corporation 3rd quarter 2025 earnings call. At this time, I would like to inform you that this conference is being recorded and that all participants are in a listen-only mode. At the conclusion of the prepared remarks, we will open the conference up for Q&A. And as a reminder, the call will last 1 hour. I will now turn the call over to Shivoni Cock, head of investor relations. Please go ahead.
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Thank you. Good morning and thank you for joining us today. I'm Shivani Clark, head of investor relations. This morning, Moody's released its results for the 3rd quarter of 2025 and updated guidance for select metrics.
The earnings press release and the presentation to accompany this teleconference are both available on our website at ir.moody's.com. During this call, we will also be presenting non-GAAP or adjusted figures. Please refer to the tables at the end of our earnings press release filed this morning for
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