NEW YORK - Marsh McLennan (NYSE:MMC) reported fourth quarter earnings and revenue that beat analyst expectations, sending shares up 1.23% in early trading Thursday.
The professional services firm posted adjusted earnings per share of $1.87, surpassing the consensus estimate of $1.77. Revenue rose 9% year-over-year to $6.07 billion, ahead of analysts' projections of $5.93 billion.
For the full year 2024, Marsh McLennan generated revenue of $24.5 billion, up 8% compared to 2023. Underlying revenue growth, which excludes the impact of foreign currency and acquisitions, was 7%.
"Our fourth quarter results capped a terrific year for Marsh McLennan. We delivered on our strategic objectives, generated excellent financial performance, and had the largest year of acquisitions in our history," said President and CEO John Doyle.
The company's Risk & Insurance Services segment saw revenue increase 11% to $3.6 billion in Q4, while Consulting revenue rose 6% to $2.4 billion.
Marsh McLennan completed the $7.75 billion acquisition of McGriff Insurance Services in November, which Doyle said positions the company well for 2025.
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