Marsh & McLennan (MMC) Tops Q1 EPS by 8c, Beats on Revenues

Marsh & McLennan (NYSE: MMC) reported Q1 EPS of $1.38, $0.08 better than the analyst estimate of $1.30. Revenue for the quarter came in at $4 billion versus the consensus estimate of $3.85 billion.

• Underlying Revenue Increases 4%, Reflecting Growth Across All Operating Companies
• GAAP EPS Rises 23% to $1.34 and Adjusted EPS Increases 28% to $1.38
• Excluding Revenue Standard Impact, GAAP EPS Grows 9% and Adjusted EPS Increases 14%

Dan Glaser, President and CEO, said: "We are pleased with our performance in the first quarter. On a consolidated basis, Marsh & McLennan delivered strong underlying revenue growth of 4% with continued solid earnings growth and margin expansion. We had underlying revenue growth across all of our operating companies, with growth of 3% in Risk & Insurance Services and 5% in Consulting. Adjusted EPS grew 14%, excluding the impact of the new revenue recognition standard"

"We are off to a good start to the year and are well positioned to deliver underlying revenue growth in the 3-5% range, margin expansion and strong growth in earnings per share in 2018," concluded Mr. Glaser.

For earnings history and earnings-related data on Marsh & McLennan (MMC) click here.

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