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MarketScreener Homepage  >  Equities  >  Nyse  >  Marsh & McLennan Companies    MMC

MARSH & MCLENNAN COMPANIES

(MMC)
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Marsh & McLennan : Third Quarter 2020 Investor Presentation

11/18/2020 | 12:37pm EST

Investor Presentation

Results through Third Quarter 2020

Forward-Looking Statements

This presentation contains "forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management's current views concerning future events or results, use words like "anticipate," "assume," "believe," "continue," "estimate," "expect," "intend," "plan," "project" and similar terms, and future or conditional tense verbs like "could," "may," "might," "should," "will" and "would." Forward-looking statements are subject to inherent risks and uncertainties that could cause actual results to differ materially from those expressed or implied in our forward-looking statements. Factors that could materially affect our future results include, among other things: 1) the financial and operational impact of COVID-19 on our revenue and ability to generate new business, our overall level of profitability and cash flow, and our liquidity, including the timeliness and collectability of our receivables; 2) the impact of disruption in the credit or financial markets, or changes to our credit ratings, including as a result of COVID-19, on our ability to access capital or repay our significant outstanding indebtedness on favorable terms and our compliance with the covenants contained in the agreements that govern our indebtedness; 3) the impact from lawsuits, other contingent liabilities and loss contingencies arising from errors and omissions, breach of fiduciary duty or other claims against us, including claims related to pandemic coverage; 4) the impact of investigations, reviews, or other activity by regulatory or law enforcement authorities, including the ongoing U.K. FCA review of legacy JLT enhanced transfer value advice; 5) the financial and operational impact of complying with laws and regulations where we operate and the risks of noncompliance with such laws, including anti-corruption laws such as the U.S. Foreign Corrupt Practices Act, U.K. Anti-Bribery Act, trade sanctions regimes and cybersecurity and data privacy regulations such as the E.U.'s General Data Protection Regulation; 6) our ability to manage risks associated with our investment management and related services business, particularly in the context of volatile equity markets caused by COVID-19, including our ability to execute timely trades in light of increased trading volume and to manage potential conflicts of interest between investment consulting and fiduciary management services; 7) our ability to compete effectively and adapt to changes in the competitive environment, including to respond to technological change, disintermediation, digital disruption and other types of innovation; 8) our ability to attract and retain industry leading talent; 9) our ability to maintain adequate safeguards to protect the security of our information systems and confidential, personal or proprietary information, including those in the existing JLT information systems, particularly given the increased risk of phishing and other cybersecurity attacks or unauthorized dissemination of information caused by remote work arrangements; 10) the regulatory, contractual and reputational risks that arise based on insurance placement activities and various insurer revenue streams; 11) our ability to successfully recover if we experience a business continuity problem due to cyberattack, natural disaster or otherwise; and 12) the impact of changes in tax laws, guidance and interpretations, or disagreements with tax authorities.

The factors identified above are not exhaustive. Marsh & McLennan Companies and its subsidiaries operate in a dynamic business environment in which new risks emerge frequently. Accordingly, we caution readers not to place undue reliance on any forward-looking statements, which are based only on information currently available to us and speak only as of the dates on which they are made. The Company undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances arising after the date on which it is made.

Further information concerning Marsh & McLennan Companies and its businesses, including information about factors that could materially affect our results of operations and financial condition, is contained in the Company's filings with the Securities and Exchange Commission, including the "Risk Factors" section and the "Management's Discussion and Analysis of Financial Condition and Results of Operations" section of our most recently filed Annual Report on Form 10-K.

Explanation of Non-GAAP Measures

This presentation also contains certain financial measures that are "non-GAAP measures," within the meaning of Regulation G of the Securities Exchange Act of 1934, as amended. The Company believes these non-GAAP financial measures provide useful supplemental information that enables investors to better compare the Company's performance across periods. Management also uses these measures internally to assess the operating performance of its business, to assess performance for employee compensation purposes and to decide how to allocate resources. However, investors should not consider these non-GAAP measures in isolation from, or as a substitute for, the financial information that the Company reports in accordance with GAAP. The Company's non-GAAP measures include adjustments that reflect how management views our businesses, and may differ from similarly titled non-GAAP measures presented by other companies. Please see the Appendix to this presentation for a reconciliation of non-GAAP measures to the closest comparable applicable GAAP measures.

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1. Overview & Opportunity

2. A Compelling Investment

3. Appendix

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The Global Leader in Advisory on Risk, Strategy and People

149-year history of leadership and innovation

Revenue of over $17 billion*

Over $100billion of premiums placed globally

Top 120 S&P 500 constituent by market value** $321 billion delegatedassets under management**

76,000 colleagues globally

$15 trillion ofretirement assetsunder advisement

Clients in more than 130 countries

Advisor to 95% of the Fortune 1000®i companies

*12 months ended 09/30/2020; **As of 09/30/2020; iFORTUNE 1000® is a trademark of FORTUNE Media IP and is used under license.

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This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

MMC - Marsh & McLennan Companies Inc. published this content on 29 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 November 2020 17:36:01 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 17 083 M - -
Net income 2020 2 173 M - -
Net Debt 2020 9 975 M - -
P/E ratio 2020 26,2x
Yield 2020 1,63%
Capitalization 56 917 M 56 917 M -
EV / Sales 2020 3,92x
EV / Sales 2021 3,73x
Nbr of Employees 76 000
Free-Float 90,3%
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Technical analysis trends MARSH & MCLENNAN COMPANIES
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 120,00 $
Last Close Price 112,22 $
Spread / Highest target 17,6%
Spread / Average Target 6,93%
Spread / Lowest Target -7,32%
EPS Revisions
Managers and Directors
NameTitle
Daniel S. Glaser President, Chief Executive Officer & Director
H. Edward Hanway Independent Chairman
Mark Christopher McGivney Chief Financial Officer
Paul Beswick Chief Information Officer & Senior Vice President
Morton Owen Schapiro Independent Director
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