Marsh & McLennan (MMC) Tops Q1 EPS by 7c, Revenues Miss
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Marsh & McLennan (NYSE: MMC) reported Q1 EPS of $1.64, $0.07 better than the analyst estimate of $1.57. Revenue for the quarter came in at $4.65 billion versus the consensus estimate of $4.68 billion.
- Underlying Revenue Increases 5%
- GAAP Operating Income Rises 14% to $1.1 billion
- Strong Growth in Adjusted Operating Income of 15% to $1.2 billion
- GAAP EPS Rises 6% to $1.48 and Adjusted EPS Increases 8% to $1.64
Dan Glaser, President and CEO, said, “Marsh & McLennan had an excellent first quarter. We marked the one-year anniversary of our acquisition of JLT and are realizing the benefits of the combination. In the quarter, we grew total revenue 14% and delivered strong underlying revenue growth of 5%, with underlying growth across both Risk and Insurance Services and Consulting. We also increased our adjusted operating income by 15%, adjusted margin by 80 basis points and adjusted EPS by 8%.
Although the COVID-19 pandemic will affect all businesses in 2020, Marsh & McLennan has proven to be a resilient firm with unique capabilities, talent and expertise that will allow us to help our clients in this time of need.”
For earnings history and earnings-related data on Marsh & McLennan (MMC) click here.
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