Q1 snap: Good revenues lift EPS
MMC delivered adjusted EPS of $1.38, 6% above consensus. Accounting changes have made comparisons more complicated. Margin expansion was good at +40bp YoY. Adjusted operating income of $918m was up 11% YoY and 1% above consensus. Within that, Risk delivered organic revenue growth of 3% and margin expansion of 90bp, leading to adjusted operating income growth of 13% YoY. Consulting delivered impressive underlying revenue growth of 5% (+15% in Investment Management, +6% at Oliver Wyman, partly offset by -4% growth in DB consulting), while margins were flat, leaving adjusted operating income growth of 9% YoY. Overall, this was a good result.Marsh & McLennan Companies is a holding company. Through its subsidiaries, the company provides clients advice and solutions in risk, strategy and people. The company provides analysis, advice and transactional capabilities to clients. The company conducts business through two segments: Risk and Insurance Services, which includes risk management activities (risk advice, risk transfer and risk control and mitigation solutions) as well as insurance and reinsurance broking and services; and Consulting, which includes health, wealth and career services and products, and other management, economic and brand consulting services.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.