Moody’s Reports Increase in 4Q Net Income and Forecasts 2024 Earnings Growth with Stable Markets and Economy

Moody’s Reports Increased Fourth-Quarter Net Income, Forecasts Further Growth in 2024.

Moody’s Corp. has reported a significant increase in fourth-quarter net income and has forecasted further growth in 2024. The company’s bond-rating and financial-research arms are benefiting from a rebound in credit markets and stabilizing economic conditions. In the fourth quarter, Moody’s earnings rose to $340 million, from $246 million a year earlier, marking a substantial increase.

Excluding certain one-off items, Moody’s logged fourth-quarter earnings of $2.19 a share, which fell short of the average analyst estimate of $2.33 a share. However, fourth-quarter revenue surged 15% to $1.48 billion, although this was slightly below the average analyst target of $1.49 billion. The Moody’s Analytics research unit experienced an 11% increase in revenue to $796 million, while the Moody’s Investors Service credit-ratings unit saw a 19% rise to $684 million, attributed to a rebound in Treasury markets and a brightening economic outlook.

Moody’s stated that bank-loan rating demand was the strongest since early 2022. For 2024, Moody’s estimated earnings in a range between $9.45 a share and $10.20 a share, or between $10.25 a share and $11 a share on an adjusted basis. In 2023, Moody’s recorded earnings of $8.73

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