Marsh & McLennan (MMC) Tops Q3 EPS by 3c, Revenues Beat

October 25, 2018 7:10 AM EDT

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Marsh & McLennan (NYSE: MMC) reported Q3 EPS of $0.78, $0.03 better than the analyst estimate of $0.75. Revenue for the quarter came in at $3.5 billion versus the consensus estimate of $3.45 billion.

Dan Glaser, President and CEO, said: "We are pleased with our performance for the third quarter and first nine months of the year. In the quarter, we produced excellent underlying revenue growth of 5% in both Risk & Insurance Services and Consulting, and adjusted EPS growth of 8% excluding the impact of the new revenue standard. For the first nine months of 2018, we achieved strong underlying revenue growth of 4% on a consolidated basis and 10% adjusted EPS growth excluding the impact of the new revenue standard. Given our solid performance in the first nine months of 2018, the Company is well positioned to deliver full year underlying revenue growth in the 3 to 5% range, as well as margin expansion and strong growth in earnings per share."

"The highlight of the quarter was our agreement to acquire Jardine Lloyd Thompson Group. JLT is a premier organization in our industry that we have admired for a long time. The combination of Marsh & McLennan and JLT will create innovative solutions for our clients, career opportunities for our colleagues, and value for our shareholders,” concluded Mr. Glaser.

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

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