Moody's (MCO) 2024 Q3 Earnings Digest

This document is Moody's Corporation's 3Q24 Earnings Presentation, which provides a summary of their financial performance and outlook for the future. The document details record revenue growth in all three business segments: Moody's Investors Service (MIS), Moody's Analytics (MA), and Moody's Corporation (MCO). Notably, MIS achieved record third quarter revenue, driven by strong debt capital markets activity. MA also experienced solid growth in Annualized Recurring Revenue (ARR). The presentation highlights macroeconomic assumptions, including real GDP growth, policy rates, and high yield spreads, as well as tailwinds and headwinds impacting Moody's future performance. The document concludes with detailed explanations of non-GAAP measures used to assess the Company's financial performance, including Adjusted Operating Income, Adjusted Operating Margin, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow, and constant currency revenue growth.