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Moody's Corporation Q4 revenue $865.9 million

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Staff writer ▼ | February 5, 2016
Moody's Corporation announced results for the fourth quarter nded December 31, 2015. Revenue was $865.9 million.
Lower revenue   Operating expense totaled $532.8 million
This is down 1% from $877.5 million for same period of 2014, but up 2% on a constant currency basis.

Operating expense totaled $532.8 million, flat to the prior year period, and operating income was $333.1 million, down 3% from $344.7 million.

Adjusted operating income (operating income before depreciation and amortization) was $361.8 million, also down 3% from the prior year period. The operating margin for the fourth quarter of 2015 was 38.5% and the adjusted operating margin was 41.8%.

EPS of $1.09 was down 3% from the fourth quarter of 2014.

For full year 2015, Moody's Corporation reported revenue of $3.5 billion, up 5% from $3.3 billion in 2014, or up 9% on a constant currency basis.

Operating expense was $2.0 billion, up 6% and operating income was $1.5 billion, up 2%. Adjusted operating income was $1.6 billion, up 3%. The operating margin for full year 2015 was 42.3% and the adjusted operating margin was 45.5%.

Full year 2015 GAAP EPS of $4.63 was up from $4.61 in 2014. Non-GAAP EPS of $4.60 was up 9% from $4.21 in 2014. In both years, non-GAAP EPS excluded a $0.03 benefit from legacy tax matters. Full year 2014 non-GAAP EPS also excluded a $0.37 gain resulting from Moody's acquisition of a controlling interest in ICRA Ltd. in the second quarter of 2014.

On December 15, 2015, Moody's increased its quarterly dividend by 9% from $0.34 to $0.37 per share of common stock. During 2015, Moody's returned $272.1 million to its shareholders via dividend payments.

For full year 2015, Moody's repurchased 10.9 million shares at a total cost of $1.1 billion, or an average cost of $101.14 per share, and issued 3.2 million shares as part of its employee stock-based compensation plans. Outstanding shares as of December 31, 2015, totaled 196.1 million, down 4% from the prior year.