RTTNews | Apr 28, 2021 07:18AM EDT

07:17 Wednesday, April 28, 2021 (RTTNews.com) - Moody's Corp. (MCO) increased its revenue outlook to high-single-digit percent growth, and raised and narrowed full year 2021 adjusted EPS guidance range to $11.00 to $11.30.

Moody's reported first quarter adjusted EPS of $4.06 compared to $2.73, prior year. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $2.82, for the quarter. Analysts' estimates typically exclude special items.

First quarter net income attributable to Moody's increased to $736 million from $488 million, prior year. Earnings per share was $3.90 compared to $2.57.

Revenue was $1.6 billion, up 24% from the prior-year period. Analysts expected revenue of $1.43 billion, for the quarter.

On April 27, 2021, the Board of Directors declared a regular quarterly dividend of $0.62 per share of MCO Common Stock. The dividend will be payable on June 10, 2021 to stockholders of record at the close of business on May 20, 2021.

At quarter-end, Moody's had $6.3 billion of outstanding debt and an undrawn $1.0 billion revolving credit facility. Total cash, cash equivalents and short-term investments at quarter-end were $2.9 billion, up from $2.7 billion on December 31, 2020.

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