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北京时间·🕒 发布 07-22 20:09:13(美东 08:09)·⟳ 抓取 07-22 20:15:13回填·⚡ 决策 07-23 08:10:08 +12h00m·96.5 天前
Moody's二季度EPS和收入超预期但小幅下调2026经营利润率指引
调整后EPS为4.68美元，高于预期0.43美元；收入21.9亿美元，高于预期1.10亿美元，基本面表现偏强。
📄 原文Seeking Alpha↗ 原文
Moody's lowers 2026 operating margin guidance, raises stock repurchases outlook
Moody's (MCO) stock was fluctuating after its second-quarter earnings announcement, as 2026 operating margin guidance w…
不做 Moody's（MCO.US）
财报正负混合：EPS和收入超预期但利润率指引下调，EPS指引接近共识且盘前已快速消化，不做。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
🔎 新鲜度:最早出现 2026-07-22 · 扩散 medium · price-in 风险 medium ↗
关键理由
- 调整后EPS为4.68美元，高于预期0.43美元；收入21.9亿美元，高于预期1.10亿美元，基本面表现偏强。
- 但2026经营利润率指引从约45%小幅下调至44%-45%，调整后EPS指引16.50-17.00美元与16.78美元共识接近，正负信息相互抵消。
- 公司同时将回购展望从约25亿美元提高至最多30亿美元，但盘前股价已从下跌1.73%反弹至上涨0.96%，显示市场即时消化。
主要风险
- 财报类事件默认需明确超预期和未price-in才追，当前指引混合且股价已快速反应。
原文全文
展开原文 · 1,337 字
Moody's (MCO) stock was fluctuating after its second-quarter earnings announcement, as 2026 operating margin guidance was slightly lowered, but share buyback guidance was raised.
Shares were 1.73% down to $482.05 during pre-market trading on Wednesday after the results announcement but bounced back to a 0.96% gain to $495.25 later on.
Adjusted diluted EPS of $4.68 increased 31% from the year-ago quarter, exceeding the average analyst estimate by $0.43.
The rise was driven by strong revenue growth and operating leverage.
Revenue was up 15% year-over-year to $2.19B, surpassing consensus by $110M.
Operating margin increased by 480 basis points to 47.9%.
The board declared a quarterly dividend of $1.03, in line with the prior quarter, payable on September 4 to shareholders of record at the close of business on August 14.
For 2026, the company modestly raised the lower end of its adjusted EPS guidance to $16.50 to $17.00 from $16.40 to $17.00. The consensus stands at $16.78.
Operating margin guidance was slightly lowered to a range of 44% to 45% from ~45% previously.
Moody's continues to expect 2026 revenue to increase in the high-single-digit percent range.
Now, the company expects to make share repurchases of up to $3.0B, compared to the earlier estimate of ~$2.5B. Moody's has repurchased ~$2.2B of shares year-to-date.
Shares were 1.73% down to $482.05 during pre-market trading on Wednesday after the results announcement but bounced back to a 0.96% gain to $495.25 later on.
Adjusted diluted EPS of $4.68 increased 31% from the year-ago quarter, exceeding the average analyst estimate by $0.43.
The rise was driven by strong revenue growth and operating leverage.
Revenue was up 15% year-over-year to $2.19B, surpassing consensus by $110M.
Operating margin increased by 480 basis points to 47.9%.
The board declared a quarterly dividend of $1.03, in line with the prior quarter, payable on September 4 to shareholders of record at the close of business on August 14.
For 2026, the company modestly raised the lower end of its adjusted EPS guidance to $16.50 to $17.00 from $16.40 to $17.00. The consensus stands at $16.78.
Operating margin guidance was slightly lowered to a range of 44% to 45% from ~45% previously.
Moody's continues to expect 2026 revenue to increase in the high-single-digit percent range.
Now, the company expects to make share repurchases of up to $3.0B, compared to the earlier estimate of ~$2.5B. Moody's has repurchased ~$2.2B of shares year-to-date.
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