Earnings Call

Moody's Analytics Q2 FY2026 Earnings Call

With Rob Fauber (President and CEO) and Noémie Heuland (CFO).

MCO

Fiscal Q2 2026

July 22, 2026

34 min read

8 questions

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1Prepared remarks3 speakers

Operator Good day, everyone, welcome to the Moody's Corporation Second Quarter 2026 Earnings Call. At this time, I would like to inform you that this conference is being recorded, and that all participants are in a listen-only mode. At the request of the company, we will open the conference up for question and answers following the presentation. This call is scheduled to last approximately one hour. I will now turn the call over to Shivani Kak, Head of Investor Relations. Shivani, please go ahead.

Shivani KakHead of Investor Relations

Thank you. Hello, thank you for joining us today. I'm Shivani Kak, Head of Investor Relations at Moody's. This morning, we reported our second quarter results. The press release and today's presentations are posted at ir.moodys.com. We'll reference non-GAAP or adjusted measures. Please see the tables in our earnings release for reconciliations to U.S. GAAP. Today's remarks may include forward-looking statements under the Private Securities Litigation Reform Act of 1995. Please see the safe harbor language in our…

Rob FauberPresident and CEO

Thanks, Shivani, hello, everybody. Thanks for joining us today. I have the dreaded summer cold, so pardon if my voice sounds a little bit gravelly today, but today's earnings are certainly making me feel much better. One quick update before we get to the results. In late June, we welcomed Christina Kosmowski as CEO of Moody's Analytics, Christina brings three decades of experience scaling technology and analytics businesses. I have to tell you, just five weeks in, she's already moving with the pace and focus that…

Noémie HeulandCFO

Thank you, Rob, and hello, everyone. Echoing Rob, our second quarter results reflect impressive execution against the durable demand drivers we've been highlighting. Let's dive into the numbers, starting with analytics. MA delivered a very strong quarter with healthy recurring growth, disciplined investment, and operating leverage. Over the past two years, adjusted operating margin has expanded by more than 500 basis points, while we have continued to invest in our highest priority growth opportunities. The story…