Marsh & McLennan Reports First Quarter 2020 Results
Apr 30, 2020
Underlying Revenue Increases 5%
GAAP Operating Income Rises 14% to $1.1 billion
Strong Growth in Adjusted Operating Income of 15% to $1.2 billion
GAAP EPS Rises 6% to $1.48 and Adjusted EPS Increases 8% to $1.64
NEW YORK, April 30, 2020 – Marsh & McLennan Companies, Inc. (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, 2020. Dan Glaser, President and CEO, said, “Marsh & McLennan had an excellent first quarter. We marked the one-year anniversary of our acquisition of JLT and are realizing the benefits of the combination. In the quarter, we grew total revenue 14% and delivered strong underlying revenue growth of 5%, with underlying growth across both Risk and Insurance Services and Consulting. We also increased our adjusted operating income by 15%, adjusted margin by 80 basis points and adjusted EPS by 8%.
Although the COVID-19 pandemic will affect all businesses in 2020, Marsh & McLennan has proven to be a resilient firm with unique capabilities, talent and expertise that will allow us to help our clients in this time of need.”