Summary
Moody's Corporation (MCO) filed an 8-K on July 24, 2013, to announce its financial results for the second quarter ended June 30, 2013. The report primarily serves to disclose these results, which were detailed in an accompanying press release (Exhibit 99.1). Key financial takeaways include the company's reaffirmation of its full-year 2013 earnings per share (EPS) guidance. On a GAAP basis, EPS guidance remains between $3.35 and $3.45, which includes a $0.14 per share impact from a litigation settlement charge. Excluding this charge, the non-GAAP EPS guidance for the full year is maintained at $3.49 to $3.59.
Key Highlights
- 1Moody's announced its Q2 2013 financial results via an 8-K filing.
- 2The filing incorporates by reference a press release detailing the Q2 2013 performance.
- 3The company reaffirmed its full-year 2013 GAAP EPS guidance of $3.35 to $3.45.
- 4This GAAP guidance includes a $0.14 per share impact from a litigation settlement charge.
- 5Moody's maintained its full-year 2013 non-GAAP EPS guidance of $3.49 to $3.59, excluding the litigation settlement charge.
- 6The report emphasizes that non-GAAP measures should be considered alongside GAAP results.
Frequently Asked Questions
The primary purpose of this 8-K filing is to publicly announce Moody's Corporation's financial results for the second quarter ended June 30, 2013, and to provide updated guidance for the full fiscal year 2013.
Moody's reaffirmed its full-year 2013 EPS guidance on a GAAP basis to be between $3.35 and $3.45. This figure includes a $0.14 per share impact from a litigation settlement charge. Excluding this charge, the non-GAAP EPS guidance remains between $3.49 and $3.59.
The litigation settlement charge has a direct impact of $0.14 per share on the company's GAAP earnings per share. Moody's provides both GAAP and non-GAAP guidance to offer investors a view of performance both with and without this specific charge, highlighting that non-GAAP results should be viewed in conjunction with GAAP figures.