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Marsh Mclennan Companies, Inc. (MMC) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Marsh Mclennan Companies, Inc.

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CIK: 1585854 Ticker: MMC


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Exhibit 99.1
NEWS RELEASE    
MARSH & McLENNAN COMPANIES REPORTS THIRD QUARTER 2018 RESULTS
Underlying Revenue Increases 5% for the Quarter and 4% for the First Nine Months of 2018
Nine Months GAAP EPS Rises 4% to $2.93 and Adjusted EPS Increases 14% to $3.26
Excluding Revenue Standard Impact, Nine Months EPS Grows 1% and Adjusted EPS Rises 10%
NEW YORK, October 25, 2018 - Marsh & McLennan Companies, Inc. (NYSE: MMC), a global professional services firm offering clients advice and solutions in risk, strategy and people, today reported financial results for the third quarter ended September 30, 2018.
Dan Glaser, President and CEO, said: "We are pleased with our performance for the third quarter and first nine months of the year. In the quarter, we produced excellent underlying revenue growth of 5% in both Risk & Insurance Services and Consulting, and adjusted EPS growth of 8% excluding the impact of the new revenue standard. For the first nine months of 2018, we achieved strong underlying revenue growth of 4% on a consolidated basis and 10% adjusted EPS growth excluding the impact of the new revenue standard. Given our solid performance in the first nine months of 2018, the Company is well positioned to deliver full year underlying revenue growth in the 3 to 5% range, as well as margin expansion and strong growth in earnings per share."
"The highlight of the quarter was our agreement to acquire Jardine Lloyd Thompson Group. JLT is a premier organization in our industry that we have admired for a long time. The combination of Marsh & McLennan and JLT will create innovative solutions for our clients, career opportunities for our colleagues, and value for our shareholders,” concluded Mr. Glaser.
Consolidated Results
Consolidated revenue in the third quarter of 2018 was $3.5 billion, an increase of 5% compared with the third quarter of 2017. On an underlying basis, revenue increased 5%. Net income attributable to the Company was $276 million. Operating income was $541 million while adjusted operating income, which excludes noteworthy items as presented in the attached supplemental schedules, decreased 5% to $535 million. Excluding the impact of the new revenue recognition standard, ASC 606, adjusted operating income rose 3%.

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The following information was filed by Marsh Mclennan Companies, Inc. (MMC) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Marsh Mclennan Companies, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Equity (Unaudited)
Consolidated Statements Of Equity (Unaudited) (Parenthetical)
Consolidated Statements Of Income (Unaudited)
Acquisitions And Dispositions
Acquisitions And Dispositions (Acquired Finite-Lived Intangible Assets) (Details)
Acquisitions And Dispositions (Allocation Of Acquisition Costs) (Details)
Acquisitions And Dispositions (Narrative) (Details)
Acquisitions And Dispositions (Pro-Forma Information) (Details)
Acquisitions And Dispositions (Tables)
Claims, Lawsuits And Other Contingencies
Claims, Lawsuits And Other Contingencies (Details)
Common Stock
Common Stock (Details)
Debt
Debt (Estimated Fair Value Of Significant Financial Instruments) (Details)
Debt (Narrative) (Details)
Debt (Schedule Of Outstanding Debt) (Details)
Debt (Tables)
Derivatives
Derivatives - Narrative (Details)
Fair Value Measurements
Fair Value Measurements (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details)
Fair Value Measurements (Changes In Fair Value Of Level 3 Liabilities Representing Acquisition Related Contingent Consideration) (Details)
Fair Value Measurements (Narrative) (Details)
Fair Value Measurements (Tables)
Fiduciary Assets And Liabilities
Fiduciary Assets And Liabilities (Details)
Goodwill And Other Intangibles
Goodwill And Other Intangibles (Amortized Intangible Assets) (Details)
Goodwill And Other Intangibles (Changes In The Carrying Amount Of Goodwill) (Details)
Goodwill And Other Intangibles (Estimated Future Aggregate Amortization Expense) (Details)
Goodwill And Other Intangibles (Narrative) (Details)
Goodwill And Other Intangibles (Tables)
Nature Of Operations
Nature Of Operations (Details)
New Accounting Guidance
New Accounting Guidance (Tables)
New Accounting Guidance - Asc 606 (Details)
New Accounting Guidance - Early Adoption (Details)
New Accounting Guidance - Narrative (Details)
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss) (Schedule Of Components Of Accumulated Other Comprehensive Income) (Details)
Other Comprehensive Income (Loss) (Schedule Of Components Of Comprehensive Income (Loss)) (Details)
Other Comprehensive Income (Loss) (Tables)
Per Share Data
Per Share Data (Basic And Diluted Eps Calculation Continuing Operations) (Details)
Per Share Data (Tables)
Principles Of Consolidation And Other Matters
Principles Of Consolidation And Other Matters (Details)
Principles Of Consolidation And Other Matters (Policies)
Restructuring Costs
Restructuring Costs (Restructuring Activities) (Details)
Restructuring Costs (Tables)
Retirement Benefits
Retirement Benefits (Narrative) (Details)
Retirement Benefits (Schedule Of Defined Benefit Plan Net Periodic Benefit Cost) (Details)
Retirement Benefits (Schedule Of Defined Benefit Plan Weighted Average Assumption Used In Calculating Net Periodic Benefit Cost) (Details)
Retirement Benefits (Tables)
Revenue
Revenue (Tables)
Revenue - Contract Assets And Contract Liabilities (Details)
Revenue - Disaggregation Of Revenue (Details)
Revenue - Estimated Revenue Expected To Be Recognized Related To Performance Obligations (Details)
Revenue - Narrative (Details)
Segment Information
Segment Information (Details Of Operating Segment Revenue) (Details)
Segment Information (Selected Information And Details For Mmc's Operating Segments) (Details)
Segment Information (Tables)
Supplemental Disclosures To The Consolidated Statements Of Cash Flows
Supplemental Disclosures To The Consolidated Statements Of Cash Flows (Additional Information Concerning Acquisitions, Interest And Income Taxes Paid) (Details)
Supplemental Disclosures To The Consolidated Statements Of Cash Flows (Narrative) (Details)
Supplemental Disclosures To The Consolidated Statements Of Cash Flows (Tables)
Ticker: MMC
CIK: 62709
Form Type: 10-Q Quarterly Report
Accession Number: 0000062709-18-000039
Submitted to the SEC: Fri Oct 26 2018 12:33:30 AM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Sunday, September 30, 2018
Industry: Insurance Agents Brokers And Service

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