Marsh & McLennan Companies, Inc. (NYSE:MMC) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Marsh & McLennan Companies, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 17.46% to $0.74 in the quarter versus EPS of $0.63 in the year-earlier quarter.
Revenue: Rose 2.46% to $3.13 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Marsh & McLennan Companies, Inc. reported adjusted EPS income of $0.74 per share. By that measure, the company beat the mean analyst estimate of $0.69. It missed the average revenue estimate of $3.18 billion.
Quoting Management: Dan Glaser, President and CEO, said: “Our quarterly results represent an excellent start to the year, continuing the strong earnings momentum the Company has achieved over the past several years. Marsh delivered underlying revenue growth across all major geographies, led by strong performance in the International division as well as sequential improvement in the U.S./Canada division. Guy Carpenter’s underlying revenue growth in the quarter was driven by strong growth in its International and Global Specialty operations. The Consulting segment produced significant growth in profitability and margin expansion, led by Mercer.”
Key Stats (on next page)…