Moody's Corp. (MCO) Friday said it expects fiscal 2017 earnings per share between $5.15 and $5.30 including the estimated $0.15 per share benefit resulting from the accounting standard update.
In the year 2016, the company reported earnings per share of $1.36, while adjusted earnings per share were $4.81.
On average, 14 analysts polled by Thomson Reuters expect earnings of $5.07 per share for the year. Analysts' estimates typically exclude special items.
Moody's expects full year 2017 revenue to increase in the mid-single-digit percent range. On a constant dollar basis, the revenue growth rate would be approximately 120 basis points higher.
Moody's projects an operating margin of approximately 43% and an adjusted operating margin of approximately 46%.
In its fourth quarter, Moody's recorded a net loss of $428.6 million, compared to net income of $217.9 million last year. Loss per share was $2.22, compared to earnings per share of $1.09 in the prior-year period. The latest results included a $3.63 loss from the settlement charge and an $0.18 gain from the non-cash foreign exchange benefit.
Adjusted net income was $237.3 million or $1.23 per share.
Moody's reported revenue of $942.1 million, up 9% from $865.9 million for the same period in 2015.
Analysts expected earnings of $1.24 per share on revenues of $908.13 million for the quarter.
by RTT Staff Writer
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