Marsh & McLennan (MMC) Tops Q2 EPS by 5c
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Marsh & McLennan (NYSE: MMC) reported Q2 EPS of $1.18, $0.05 better than the analyst estimate of $1.13. Revenue for the quarter came in at $4.3 billion versus the consensus estimate of $4.3 billion.
- Second Quarter Revenue Growth of 16%; Underlying Revenue Growth of 4%
- Second Quarter GAAP EPS of $0.65; Adjusted EPS Increases 7% to $1.18
- Six Months GAAP Operating Income Rises 1%; Adjusted Operating Income Grows 14%
- Six Months GAAP EPS of $2.05; Adjusted EPS Increases 9% to $2.70
Dan Glaser, President and CEO, said: "We are pleased with our second quarter results, which include Jardine Lloyd Thompson for the first time. We generated solid growth in underlying revenue and adjusted EPS while welcoming 10,000 new colleagues. In the quarter, consolidated underlying revenue grew 4%, adjusted operating income rose 19% to $894 million, adjusted EPS grew 7% to $1.18 and our overall adjusted margin expanded 150 basis points. We are tracking well against our plans and are excited about the long-term growth prospects for our combined firm."
"We delivered solid performance in the first half of 2019, with 4% underlying revenue growth, 9% adjusted EPS growth, and adjusted margin expansion of 160 basis points," concluded Mr. Glaser.
For earnings history and earnings-related data on Marsh & McLennan (MMC) click here.
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