Marsh & Mclennan Companies Inc. Earnings: Booking a Profit Again
S&P 500 (NYSE:SPY) component Marsh & Mclennan Companies Inc. (NYSE:MMC) reported its results for the first quarter. Marsh & McLennan is a global professional services firm providing advice and solutions in the areas of risk, strategy, and human capital.
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Marsh & Mclennan Companies Earnings Cheat Sheet for the First Quarter
Results: Net income for the insurance brokerage rose to $347 million (63 cents per share) vs. $325 million (58 cents per share) in the same quarter a year earlier. This marks a rise of 6.8% from the year-earlier quarter.
Revenue: Rose 5.8% to $3.05 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Marsh & Mclennan Companies Inc. beat the mean analyst estimate of 61 cents per share. Analysts were expecting revenue of $3.04 billion.
Quoting Management: Brian Duperreault, President and CEO, said: “Our performance in the first quarter continues to build on the strong momentum achieved by the Company over the past two years. This performance reflects revenue growth from each of our operating companies, as well as continued strong growth in adjusted operating income across both our Risk and Insurance Services and Consulting segments.”
Revenue has increased for four quarters in a row. Revenue increased 4.4% to $2.91 billion in the fourth quarter of the last fiscal year. The figure rose 11.2% in the third quarter of the last fiscal year from the year earlier and climbed 12.4% in the second quarter of the last fiscal year from the year-ago quarter.
The company has now beaten estimates the last two quarters. In the fourth quarter of the last fiscal year, it topped expectations with net income of 46 cents versus a mean estimate of net income of 45 cents per share.
The company has now seen net income increase for two quarters in a row. In the fourth quarter of the last fiscal year, net income rose 26.1% from the year earlier.
Looking Forward: The average estimate for the second quarter remains unchanged at 59 cents a share. The average estimate for the fiscal year has remained at $2.14 per share.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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