Marsh & Mclennan Companies Earnings: Net Income Up 31 Percent
S&P 500 (NYSE:SPY) component Marsh & Mclennan Companies Inc. (NYSE:MMC) reported its results for the first 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 First Quarter
Results: Net income rose to $325 million (57 cents/share) vs. $248 million (45 cents/share) in the same quarter a year earlier. A rise of 31% from the year earlier quarter.
Revenue: Rose 3.2% to $2.88 billion YoY.
Actual vs. Wall St. Expectations: MMC reported adjusted net income of of 56 cents/share. By that measure, the company fell in line with the mean estimate of 56 cents/share. Estimates ranged from 53 cents per share to 60 cents per share.
Quoting Management: “Our Consulting segment produced strong revenue growth in the first quarter. Mercer’s underlying revenue growth reflects the continued fine performance of its consulting and investments businesses. Oliver Wyman’s impressive revenue growth was led by double- digit increases in a number of its industry sectors.” Brian Duperreault, President and CEO, said: “Our performance in the first quarter of 2011 reflects strong revenue growth across all of our operating companies. Excellent results for Risk and Insurance Services reflect underlying revenue growth at Marsh and Guy Carpenter. Marsh’s revenue growth was across all geographies, driven by continued high levels of new business development and client retention. Guy Carpenter’s superior results were led by international operations, with the company producing its ninth consecutive quarter of underlying revenue growth.”
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)
Stock Performance: Shares of MMC are trading at $30.77 as of May 4, 2011 at 7:25 AM ET, unchanged from the previous close.