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Marsh & McLennan Companies Inc Q1 adjusted earnings Beat Estimates
WASHINGTON (dpa-AFX) - Marsh & McLennan Companies Inc (MMC) released earnings for its first quarter that rose from last year.
The company s earnings totaled $983 million, or $1.91 per share. This compares with $754 million, or $1.48 per share, in last year s first quarter.
Excluding items, Marsh & McLennan Companies Inc reported adjusted earnings of $1.02 billion or $1.99 per share for the period.
Analysts had expected the company to earn $1.71 per share, according to figures compiled by Thomson Reuters. Analysts estimates typically exclude special items.
The company s revenue for the quarter rose 9.2% to $5.08 billion from $4.65 billion last year.
First Quarter Revenue Growth of 9% Including Underlying Revenue Growth of 6%
First Quarter GAAP EPS of $1.91; Adjusted EPS Increases 21% to $1.99
GAAP Operating Income Rises 27%; Adjusted Operating Income Increases 20%
Marsh McLennan Reports First Quarter 2021 Results
Marsh & McLennan
Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, today reported financial results for the first quarter ended March 31, 2021.
Dan Glaser, President and CEO, said: “Marsh McLennan had an outstanding first quarter. We delivered strong growth in underlying revenue and adjusted earnings, and generated meaningful adjusted operating margin expansion in both Risk & Insurance Services and Consulting. Our total revenue grew 9%, with underlying revenue growth of 6%. Adjusted operating income rose 20%, adjusted EPS grew 21%, and our adjusted operating margin increased 260 basis points to 29.6%.