Moody's Corporation (NYSE:MCO) reported its Q1 earnings, with revenue declining 4.9% year-over-year to $1.5 billion, slightly missing the consensus estimate of $1.51 billion. EPS was $2.89, compared to the consensus estimate of $2.90. Adjusted operating expense came in at $788 million, while an adjusted operating margin at 48.2%.

The company provided its full 2022-year outlook, expecting adjusted EPS of $10.75–$11.25 (vs. $12.40–$12.90 prior), which analysts at Oppenheimer believe is achievable if the Q1/22 issuance trend continues.

While the company lowered its FCF guidance to $1.8-2.0 billion from $2.3-2.5 billion, it maintained its full-year $1.5 billion share repurchases expectation, with $1.2 billion of share repurchase authority remaining at the end of Q1/22.