Marsh & McLennan Cos. (MMC) Tops Q4 EPS by 1c

February 11, 2014 7:03 AM EST
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Price: $147.41 +1.03%

EPS Growth %: +21.2%

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Marsh & McLennan Cos. (NYSE: MMC) reported Q4 EPS of $0.57, $0.01 better than the analyst estimate of $0.56. Revenue for the quarter came in at $3.1 billion versus the consensus estimate of $3.13 billion.

Dan Glaser, president and CEO, said: "Marsh & McLennan Companies had excellent results in the fourth quarter of 2013. On a consolidated basis, the Company produced underlying revenue growth of 4%, with the adjusted margin rising 130 basis points and double-digit growth in both GAAP and adjusted EPS. Marsh had underlying revenue growth of 4%, with all geographic regions contributing. Guy Carpenter generated underlying revenue growth of 6%, its best performance in 2013. Mercer grew underlying revenue 4%, driven by outstanding performance in Health and Investments. Oliver Wyman’s 5% increase in underlying revenue was its strongest performance in the past six quarters.

"For the full year, Marsh & McLennan Companies’ results were outstanding. On a consolidated basis, adjusted operating income grew 14%, and the consolidated margin increased 180 basis points to 17.4% from 15.6%. Marsh produced another year of strong performance, with underlying revenue growth across all major geographies and record new business development. Guy Carpenter’s results for the year were excellent, with underlying revenue growth of 5%. Mercer’s strong performance included 4% underlying revenue growth, fueling the Consulting segment’s record profitability. Oliver Wyman’s underlying revenue growth improved sequentially throughout the year. For the fourth consecutive year, the Risk and Insurance Services and Consulting segments both achieved double-digit growth in adjusted operating income.

"We are proud of our accomplishments this past year. We have established an operating platform that positions us well to deliver sustained long-term EPS growth approaching 13%," concluded Mr. Glaser.

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


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