Moody's Corporation (MCO) Earnings Call Transcripts
Moody's Corporation's Latest Earnings Call - Q3 FY2026
In the third quarter of 2026, Moody's Corporation reported revenues exceeding $2 billion for the third consecutive quarter, highlighting strong profitability despite a challenging market environment. The company achieved an adjusted diluted EPS growth of 6% and maintained its full-year guidance for revenue growth in the high single-digit percent range. Management reaffirmed its outlook, indicating resilience in its business model, particularly in the face of a 2% decline in overall rated issuance.
Reported metrics
| Metric | Value |
|---|---|
| Adjusted Operating Margin | 52.6% (null) |
| Annualized Recurring Revenue (ARR) | $3.7B (positive) |
| Free Cash Flow | $2.2B (positive) |
| Adjusted Operating Margin (MA) | 35.3% (positive) |
| Transaction Revenue Decline | 76% (negative) |
Guidance from management
Management maintained its full-year guidance, expecting revenue growth in the high single-digit percent range and adjusted diluted EPS of $16.50 to $17, representing 12% growth at the midpoint.
What management said
That's for next year. So that I think of $800 billion-ish this year of CapEx, call that $1 trillion -- north of $1 trillion next year. So we expect that there will be growth in the infrastructure build-out and hyperscaler issuance investment in CapEx in 2027.
What analysts pressed on
Analysts expressed concerns regarding the impact of geopolitical tensions on issuance activity and the potential for a more selective environment in leveraged finance. There were also questions about how AI adoption would translate into incremental revenue rather than just supporting retention.
Main topics on the call
- Revenue Consistency — Moody's reported revenues of over $2 billion for the third straight quarter, marking a strong performance amidst a complex operating environment. CEO Robert Fauber stated, "Moody's delivered another quarter of strong pro...
- Adjusted Operating Margin — The company achieved an adjusted operating margin of 52.6%, reflecting disciplined cost management. Fauber noted, "This really illustrates the resilience of the Moody's franchise and our ability to perform across a range...
- Moody's Analytics Growth — Moody's Analytics reported a 3% revenue growth year-over-year, with annualized recurring revenue (ARR) growing approximately 8%. Fauber highlighted, "ARR grew approximately 8% year-over-year, and we are on track to meet ...
- Issuance Trends — Overall rated issuance declined by 2%, with management indicating that while some markets showed strength, others were softer. Fauber mentioned, "Issuance activity moderated during the quarter, but remained very strong b...
Read the full Moody's Corporation transcript (Q3 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Moody's Corporation
Moody's Corporation (MCO) is a publicly listed company in the Capital Markets industry, within the Financials sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 89 calls on record spanning February 12, 2020 to October 21, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 89 Moody's Corporation earnings call transcripts on record, spanning February 12, 2020 to October 21, 2026. Based on this history, Moody's Corporation reports quarterly. The most recent call on file is dated October 21, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- MCO
- Exchange
- NYSE
- Country
- US
- Sector
- Financials
- Industry
- Capital Markets
- Calls on record
- 89
- First call
- February 12, 2020
- Most recent
- October 21, 2026
- Reporting cadence
- quarterly