The earnings call presented a balanced view with strong revenue growth and international performance, yet highlighted challenges such as high litigation costs, declining fiduciary interest income, and softening insurance rates. Both opportunities and challenges were emphasized, indicating a mixed outlook.

Company Guidance -

Q3 2025

During the earnings call, Marsh & McLennan presented their second quarter 2025 results, highlighting a 12% increase in consolidated revenue to $7 billion, with underlying revenue growth of 4%. Adjusted operating income rose by 14% to $2.1 billion, while adjusted EPS grew 11% to $2.72. The company reported an adjusted operating margin increase of 50 basis points to 29.5%. In the Risk and Insurance Services segment, revenue increased 15% to $4.6 billion, with underlying growth of 4%, and an adjusted operating margin expansion of 30 basis points to 35.6%. Consulting revenue rose 7% to $2.4 billion, with underlying growth of 3% and an adjusted operating margin increase of 40 basis points to 20.2%. Marsh's international operations saw significant growth, with EMEA up 8% and Asia Pacific up 4%. The company also announced a 10% increase in its quarterly dividend to $0.90 and completed $300 million of share repurchases. Looking ahead, Marsh & McLennan expects mid-single-digit underlying revenue growth and solid growth in adjusted EPS for 2025, with continued focus on guiding clients through a complex macro environment.

Strong Revenue Growth

Revenue grew 12% in the quarter, with underlying revenue increasing by 4%. Adjusted operating income increased 14%, and adjusted EPS grew 11%.

International Growth

Marsh's international growth was strong with EMEA up 8%, Asia Pacific up 4%, and Latin America up 3%.

Risk and Insurance Services Performance

Risk and Insurance Services revenue was up 15% with an underlying growth of 4%. Adjusted operating income was up 16%.

Consulting Segment Growth

Consulting segment revenue increased by 7%, with a 3% underlying growth. Adjusted operating income was up 9%.

Oliver Wyman's Performance

Oliver Wyman's revenue increased by 5%, with underlying growth of 3%, led by solid growth in the U.S.

Increased Dividend

Announced a 10% increase in the quarterly dividend to $0.90.

Marsh & Mclennan Companies (MMC) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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MMC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 16, 2025	2025 (Q3)	1.81 / -	1.63	―	―	―
Jul 17, 2025	2025 (Q2)	2.67 / 2.72	2.41	12.86% (+0.31)	―
Apr 17, 2025	2025 (Q1)	3.02 / 3.06	2.89	5.88% (+0.17)
Jan 30, 2025	2024 (Q4)	1.76 / 1.87	1.68	11.31% (+0.19)
Oct 17, 2024	2024 (Q3)	1.62 / 1.63	1.57	3.82% (+0.06)	―
Jul 18, 2024	2024 (Q2)	2.40 / 2.41	2.2	9.55% (+0.21)
Apr 18, 2024	2024 (Q1)	2.80 / 2.89	2.53	14.23% (+0.36)
Jan 25, 2024	2023 (Q4)	1.63 / 1.68	1.47	14.29% (+0.21)
Oct 19, 2023	2023 (Q3)	1.39 / 1.57	1.18	33.05% (+0.39)
Jul 20, 2023	2023 (Q2)	2.12 / 2.20	1.89	16.40% (+0.31)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MMC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 17, 2025	$211.07	$210.13	-0.45%
Apr 17, 2025	$230.33	$219.12	-4.87%
Jan 30, 2025	$216.83	$219.15	+1.07%
Oct 17, 2024	$225.33	$224.35	-0.43%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Marsh & Mclennan Companies (MMC) report earnings?

Marsh & Mclennan Companies (MMC) is schdueled to report earning on Oct 16, 2025, Before Open (Confirmed).

What is Marsh & Mclennan Companies (MMC) earnings time?

Marsh & Mclennan Companies (MMC) earnings time is at Oct 16, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is MMC EPS forecast?

MMC EPS forecast for the fiscal quarter 2025 (Q3) is 1.81.

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