Marsh McLennan (NYSE:MMC) posted third-quarter results on Thursday that beat analyst expectations, supported by strong top-line growth and improved operating performance. The company’s stock edged down 0.20% in pre-market trading following the release.
Adjusted earnings per share came in at $1.85, topping the consensus estimate of $1.79. Total revenue rose 11% year over year to $6.4 billion, slightly above forecasts of $6.34 billion. Underlying revenue grew 4%, while adjusted operating income increased 13% to $1.4 billion.
“Our third quarter results were solid and tracked with expectations,” said John Doyle, President and CEO. “Overall, we generated 11% revenue growth, or 4% on an underlying basis, as well as 13% growth in adjusted operating income and 11% growth in adjusted EPS.”
The Risk & Insurance Services division — which includes Marsh and Guy Carpenter — recorded a 13% increase in revenue to $3.9 billion, with 3% underlying growth. Marsh’s revenue climbed 16% to $3.4 billion, or 4% on an underlying basis, supported by particularly strong performance in the Asia Pacific region, where underlying revenue grew 6%.
The Consulting segment, comprising Mercer and Oliver Wyman, delivered a 9% revenue increase to $2.5 billion, with 5% underlying growth. Oliver Wyman stood out with 8% underlying revenue growth, while Mercer’s Health business grew 6% on the same basis.
The company also unveiled a major rebranding initiative, announcing plans to adopt the Marsh name in January 2026. All four business units will transition to the Marsh brand beginning in 2027. In addition, a new Business and Client Services unit will be created to drive innovation and centralize investments in operational excellence and data analytics.
During the quarter, Marsh McLennan repurchased approximately 1.9 million shares for $400 million, bringing its year-to-date total to 4.6 million shares for $1 billion.
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