RTTNews | Oct 29, 2020 09:12AM EDT

09:11 Thursday, October 29, 2020 (RTTNews.com) - While reporting financial results for the third quarter on Thursday, Moody's Corp. (MCO) raised its earnings, adjusted earnings and revenue growth guidance for the full-year 2020 as the results of the first nine months have continued to exceed its expectations.

For fiscal 2020, the company now expects earnings in a range of $9.30 to $9.50 per share and adjusted earnings in the range of $9.95 to $10.15 per share on projected revenue growth in the high-single-digit percent range.

Previously, the company projected earnings in the range of $8.15 to $8.55 per share and adjusted earnings in the range of $8.80 to $9.20 per share on revenue growth in the low-single-digit percent range.

On average, 16 analysts polled by Thomson Reuters expect earnings of $9.48 per share on revenue growth of 6.3 percent to $5.13 billion for the year. Analysts' estimates typically exclude special items.

The guidance assumes a previously announced restructuring program around the rationalization and exit of certain real estate leases estimated to result in total pre-tax charges of $25 to $35 million.

On Tuesday, the company's Board of Directors declared a regular quarterly dividend of $0.56 per share of Moody's common stock, payable on December 14, 2020 to stockholders of record at the close of business on November 23, 2020.

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