Marsh & McLennan Q3 Profit Up, Matches View - Quick Facts

(RTTNews) - Insurance brokerage Marsh & McLennan Companies, Inc. (MMC) posted higher third-quarter net income attributable to the company of $253 million, or $0.45 per share, compared with $241 million, or $0.44 per share, last year. Adjusted income, net of tax amounted to $259 million, or $0.46 per share in the recent period. On average, 21 analysts polled by Thomson Reuters expected earnings per share of $0.46 for the quarter. Analysts' estimates typically exclude one-time items.

Adjusted operating income increased 15%, reflecting excellent margin expansion in both of the company's operating segments.

For the third quarter of 2013, consolidated revenue was $2.93 billion, an increase of 3% on a reported basis, or 4% on an underlying basis, compared with last year's $2.845 billion. Seventeen analysts estimated revenues of $2.95 billion for the quarter. Underlying revenue measures the change in revenue using consistent currency exchange rates, excluding the impact of certain items, such as acquisitions, dispositions, and transfers among businesses.