S&P 500 (NYSE:SPY) component Marsh & Mclennan Companies Inc. (NYSE:MMC) reported its results for the second quarter. Marsh & McLennan Companies, Inc. is a global professional services firm providing advice and solutions in the areas of risk, strategy and human capital.
Marsh & Mclennan Companies Earnings Cheat Sheet for the Second Quarter
Results: Net income for Marsh & Mclennan Companies Inc. rose to $282 million (50 cents per share) vs. $236 million (43 cents per share) in the same quarter a year earlier. This marks a rise of 19.5% from the year earlier quarter.
Revenue: Rose 12.4% to $2.93 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: MMC beat the mean analyst estimate of 48 cents per share. It beat the average revenue estimate of $2.82 billion.
Quoting Management: Brian Duperreault, President and CEO, said: “We are very pleased with our performance in the first half of 2011. Our excellent second quarter performance successfully built on our strong first quarter results. “Each of our four operating companies produced strong growth in revenue and profitability in the second quarter. In Risk and Insurance Services, Marsh’s underlying revenue grew across all geographies, reflecting increases in new business development and client revenue retention rates.”
Revenue has now gone up for three straight quarters. In the first quarter, revenue rose 3.2% to $2.88 billion while the figure rose 1.9% in the fourth quarter of the last fiscal year from the year earlier.
The company beat estimates last quarter after being in line with expectations in the first quarter with net income of 56 cents per share.
Competitors to Watch: Aon Corporation (NYSE:AON), Arthur J. Gallagher & Co. (NYSE:AJG), Brown & Brown, Inc. (NYSE:BRO), Willis Group Holdings PLC (NYSE:WSH), InsWeb Corporation (NASDAQ:INSW), Fortegra Financial Corp (NYSE:FRF), Verisk Analytics, Inc. (NASDAQ:VRSK), CNinsure Inc. (NASDAQ:CISG), and Life Partners Hldgs., Inc. (NASDAQ:LPHI).
(Source: Xignite Financials)