Marsh & McLennan (MMC) Misses Q2 EPS by 1c, Miss on Revenues
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Marsh & McLennan (NYSE: MMC) reported Q2 EPS of $1.10, $0.01 worse than the analyst estimate of $1.11. Revenue for the quarter came in at $3.7 billion versus the consensus estimate of $3.73 billion.
- Underlying Revenue Increases 3% for the Quarter and 4% for the First Half of 2018
- Six Months GAAP EPS Rises 16% and Adjusted EPS Increases 19%
- Excluding Revenue Standard Impact, Six Months EPS Grows 8% and Adjusted EPS Rises 11%
Dan Glaser, President and CEO, said: "We are pleased with our performance in the first half of the year. For the first six months of 2018, we achieved 4% underlying revenue growth on a consolidated basis and 11% adjusted EPS growth excluding the impact of the new revenue standard. In the second quarter, we delivered underlying revenue growth of 3%, highlighted by strong underlying growth of 5% in Risk & Insurance Services with 1% growth in Consulting."
"With a solid first half of 2018, we believe the Company is well positioned to deliver underlying revenue growth in the 3-5% range, margin expansion and strong growth in adjusted 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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