Marsh & McLennan (MMC) Tops Q4 EPS by 5c, Revenues Miss

January 31, 2019 7:08 AM EST

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Marsh & McLennan (NYSE: MMC) reported Q4 EPS of $1.09, $0.05 better than the analyst estimate of $1.04. Revenue for the quarter came in at $3.71 billion versus the consensus estimate of $3.75 billion.

Dan Glaser, President and CEO, said: "Marsh & McLennan had an outstanding finish to the year. In the fourth quarter, we produced strong underlying revenue growth of 5%, including 6% in Risk & Insurance Services and 3% in Consulting. Excluding the impact of the new revenue standard, we generated adjusted operating income growth of 15% in the quarter and delivered 180 basis points of overall adjusted margin expansion."

"For the year, Marsh & McLennan generated strong underlying revenue growth of 4%, adjusted operating income growth of 8% and adjusted EPS growth of 11%. This marks another year of double-digit adjusted EPS growth following 15% growth in 2017."

"In addition to our impressive underlying performance, we had another active year of acquisitions and delivered on our capital return commitments. The highlight of the year was our agreement to acquire Jardine Lloyd Thompson Group. This combination will enhance capabilities for our clients, increase opportunities for our colleagues and create value for our shareholders," concluded Mr. Glaser.

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

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