Q4 2024 Moody's Corp Earnings Call Transcript
Key Points
- Moodys Corp (MCO) delivered a record year in 2024 with a 20% revenue growth, surpassing $7 billion.
- The company achieved a 26% increase in adjusted diluted EPS, driven by strategic investments and disciplined cost management.
- Moody's Analytics reported strong performance with 10% recurring revenue growth in Q4 and 9% ARR growth.
- The company expanded its adjusted operating margin by over 400 basis points, reflecting improved operational efficiency.
- Moody's was named the best rating agency for the 13th consecutive year by Extel, highlighting its leadership in the market.
- The tragic loss of two Moody's colleagues in a plane crash was acknowledged, impacting the team emotionally.
- Despite strong issuance, transactional revenue growth was lower due to a high percentage of bank loan repricings.
- The company anticipates incurring $200 million to $250 million in restructuring charges over the next two years.
- There is a potential risk of economic and policy changes impacting certain sectors, such as autos and fossil fuels.
- The medium-term growth guidance implies lower growth in 2026 and 2027 compared to the longer-term structural growth.
Good day, everyone, and welcome to the Moody's Corporation fourth quarter and full-year 2024 earnings call. At this time, I would like to inform you that this conference is being recorded. (Operator Instructions)
I will now turn the call over to Shivani Kak, 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 Kak, Head of Investor Relations. This morning, Moody's released its results for the fourth-quarter 2024 as well as our outlook for select metrics for full year 2025 and updates to our medium-term guidance. The earnings press release and the presentation to accompany this teleconference are both available on our website at ir.moodys.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 reconciliations between all adjusted measures referenced during this call in US GAAP. I
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