Marsh & McLennan Q4 Earnings Top Estimates

Marsh & McLennan Cos. on Thursday reported fourth-quarter net income of $391 million.

Source: AP | Published on January 30, 2020

3Q results Marsh

On a per-share basis, the New York-based company said it had profit of 76 cents. Earnings, adjusted for non-recurring costs, came to $1.19 per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.18 per share.

The global professional services firm providing strategy, risk and people solutions posted revenue of $4.26 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $4.34 billion.

For the year, the company reported profit of $1.74 billion, or $3.41 per share. Revenue was reported as $16.65 billion.

Marsh & McLennan shares have risen 4% since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 1%. The stock has risen 40% in the last 12 months.