Marsh & McLennan Q4 Profit Beats Street - Quick Facts

(RTTNews) - Insurance brokerage Marsh & McLennan Companies Inc. (MMC) posted higher fourth-quarter 2013 net income attributable to the company of $303 million, or $0.54 a share, versus last year's $259 million, or $0.47 a share. Adjusted earnings per share amounted to $0.57 in the recent quarter. On average, 22 analysts polled by Thomson Reuters expected earnings per share of $0.56 for the quarter. Analysts' estimates typically exclude one-time items.

According to the company, the fourth quarter includes a $24 million expense, or $0.03 per share, related to the cost of extinguishment of debt. Operating income was $489 million, compared with $406 million reported a year before.

Quarterly consolidated revenue totaled $3.12 billion, up 4% on both a reported and underlying basis, compared with $3.0 billion in the 2012 period, while 16 analysts estimated revenues of $3.13 billion.

The company said in a statement, "We have established an operating platform that positions us well to deliver sustained long-term EPS growth approaching 13%."