Research Desk Line-up: Aon PLC Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 9, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Marsh & McLennan Cos., Inc. (NYSE: MMC), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=MMC, following the Company's release of its second quarter fiscal 2017 results on July 27, 2017. The global professional services firm providing strategy, risk, and people solutions reported a 4% growth in revenue and also repurchased its shares for the 21st consecutive quarter. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Insurance Brokers industry. Pro-TD has currently selected Aon PLC (NYSE: AON) for due-diligence and potential coverage as the Company reported on August 04, 2017, its financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Aon PLC when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on MMC; also brushing on AON. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

For the second quarter ended June 30, 2017, Marsh & McLennan's consolidated revenue was $3.50 billion, reflecting an increase of 4% compared to revenue of $3.38 billion in Q2 2016. The Company's revenue numbers lagged behind analysts' expectations of $3.54 billion.

For Q2 2017, Marsh & McLennan's operating income was $764 million, an increase of 5% compared to operating income of $726 million in Q2 2016. The Company's adjusted operating income rose 7% to $788 million.

Marsh & McLennan's net income attributable to the Company was $501 million compared to $472 million in Q2 2016. On a per share basis, net income per share attributable to the Company rose 7% to $0.96 from $0.90 in the year ago same quarter. Marsh & McLennan's adjusted earnings jumped 10% to $1.00 and also met Wall Street's expectations of $1.00 per share.

Segment Results

During Q2 2017, Marsh & McLennan's Risk & Insurance Services generated revenue of $1.91 billion, reflecting an increase of 4%, or 2% on an underlying basis. The segment's operating income totaled $528 million, up 7% on a y-o-y basis and adjusted operating income rose 9% to $535 million.

For the reported quarter, the Risk & Insurance Services segment's revenue grew 2% to $1.6 billion on a y-o-y basis. The sub segment's International operations produced underlying revenue growth of 1%, reflecting flat underlying revenue in Europe, the Middle-East, and Africa (EMEA), 3% growth in Asia/Pacific, and 4% in Latin America. In US/Canada, underlying revenue rose 2%. Risk & Insurance Services' Guy Carpenter's revenue totaled $293 million for Q2 2017, reflecting growth of 4% on an underlying basis.

Marsh & McLennan's consulting revenue came in at $1.59 billion in Q2 2017, reflecting growth of 3%, or 4% on an underlying basis. The segment's operating income decreased 1% to $283 million while adjusted operating income increased 3% to $298 million.

During Q2 2017, the Consulting segment's Mercer unit's revenue was $1.1 billion, up 3% on an underlying basis. The Mercer segment's total Wealth revenue of $532 million in the reported quarter grew 1% on an underlying basis. The segment's Health revenue totaled $423 million, up 3% on an underlying basis, while its Career unit generated revenue of $154 million, up 5% on an underlying basis.

For Q2 2017, the consulting segment's Oliver Wyman Group's revenue was $483 million, reflecting an increase of 7% on an underlying basis.

Cash Matters

During Q2 2017, Marsh & McLennan repurchased 2.7 million shares of its common stock for $200 million. The Company stated that reported quarter marked the 21st consecutive quarter it had repurchased its stock. Since announcing its commitment to reduce the annual share count in March 2014, Marsh & McLennan's shares outstanding have declined by 36 million, or 7%. In May 2017, Marsh & McLennan's Board of Directors increased its quarterly dividend by 10% to $0.375 per share, effective with the third quarter dividend payable on August 15, 2017.

Marsh & McLennan's total debt at the end of Q2 2017 was $5.6 billion compared to $5.9 billion at the end of Q1 2017, reflecting the repayment of $250 million of senior notes on April 01, 2017. The Company's next scheduled debt repayment is not due until Q4 2018 where it has $250 million of notes maturing. The Company's cash position at the end of Q2 2017 was $966 million with approximately $118 million in the United States. Uses of cash in the reported quarter totaled $442 million and included $200 million for share repurchases $176 million for dividends and $66 million for acquisitions.

Stock Performance

Marsh & McLennan's share price finished yesterday's trading session at $77.44, slightly sliding 0.72%. A total volume of 1.44 million shares have exchanged hands. The Company's stock price rallied 5.15% in the last three months, 10.99% in the past six months, and 15.46% in the previous twelve months. Additionally, the stock surged 14.57% since the start of the year. Shares of the Company have a PE ratio of 21.42 and have a dividend yield of 1.94%. The stock currently has a market cap of $39.82 billion.

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