Marsh & McLennan (MMC) Tops Q1 EPS by 7c, Revenues Miss

Marsh & McLennan (NYSE: MMC) reported Q1 EPS of $1.52, $0.07 better than the analyst estimate of $1.45. Revenue for the quarter came in at $4.07 billion versus the consensus estimate of $4.19 billion.

• Underlying Revenue Increases 4%
• GAAP Operating Income Rises 3% to $938 million
• Strong Growth in Adjusted Operating Income of 11% to $1.0 billion
• GAAP EPS Grows to $1.40 from $1.34 and Adjusted EPS Rises 10% to $1.52

Dan Glaser, President and CEO, said: "We delivered strong growth in underlying revenue and profitability in the first quarter, including double-digit adjusted earnings growth and meaningful adjusted margin expansion in both Risk & Insurance Services and Consulting. The Company’s underlying revenue growth was 4%, adjusted operating income rose 11%, and the adjusted margin increased 210 basis points to 26.2%."

"With our successful completion of the acquisition of Jardine Lloyd Thompson Group and a great start to the year we believe the Company is well positioned to deliver solid results in 2019," concluded Mr. Glaser.

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

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