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Marsh & McLennan Companies (MRSH)
NYSE:MRSH
Earnings Data
Report Date
Apr 16, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
3.25Last Year’s EPS
3.06Same Quarter Last Year
Moderate Buy
Based on 18 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive financial and strategic story: strong full-year and quarterly results, margin expansion, substantial free cash flow, active capital return and M&A activity, and launch of the Thrive program and technology initiatives which position the firm for future efficiency and growth. These positives are tempered by clear near-term headwinds—most notably declining insurance and reinsurance pricing, lower fiduciary income from falling interest rates, one-time transformation charges, and pockets of regional softness. Management expects 2026 underlying revenue growth similar to 2025 with continued margin expansion, signaling confidence despite market pressures.Company Guidance
Strong Full-Year Revenue and Underlying Growth
Total revenue grew 10% year-over-year to $27,000,000,000 with underlying revenue growth of 4% for fiscal 2025, demonstrating broad-based top-line strength.
Robust Profitability and Margin Expansion
Adjusted operating income increased 11% to $7,300,000,000 and adjusted operating margin improved by 30 basis points (18th consecutive year of reported margin expansion); adjusted EPS grew 9% (full-year adjusted EPS $9.75).
Quarterly Financial Momentum
Q4 consolidated revenue rose 9% to $6,600,000,000 with 4% underlying growth; adjusted operating income for the quarter was $1,600,000,000 (up 12%), adjusted operating margin increased 40 bps to 23.7%, and adjusted EPS was $2.12 (up 10%).
Strong Free Cash Flow and Capital Returns
Generated free cash flow of $5,000,000,000 in 2025 (up 25% from $4,000,000,000) and returned significant capital: a 10% increase in the quarterly dividend and $2,000,000,000 in share repurchases (largest annual amount in company history).
Active M&A and Strategic Investments
Invested approximately $850,000,000 in acquisitions (including completion and integration of McGriff, the largest acquisition ever) and deployed $847M of acquisitions for the year; management emphasizes continued M&A pipeline and intends to favor accretive acquisitions.
Launch of Thrive Program, Brand Refresh, and Technology Initiatives
Announced and began executing Thrive (targeting $400,000,000 of savings), launched new Marsh brand and ticker (MRSH), formed Business and Client Services (BCS) to scale AI/analytics, and rolled out client-facing technologies (Centrisq, AIDA) and dozens of AI-driven productivity tools.
Segment-Level Growth Across Businesses
Segment performance included Marsh Risk full-year underlying growth of 4% (Q4 underlying +3%), Guy Carpenter full-year underlying growth 5% (Q4 underlying +5%), Consulting underlying growth 5% (Q4 consulting +5% underlying), Mercer underlying growth 4% (Q4 +4% underlying), and Marsh Management Consulting underlying growth 6% for the year (Q4 +8%).
Assets Under Management Increase
Mercer's assets under management totaled $692,000,000,000 at quarter end, up 12% year-over-year and 1% sequentially, driven by acquisitions and capital markets.
MRSH Earnings History
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
MRSH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jan 29, 2026 | $177.28 | $187.92 | +6.00% |
Oct 16, 2025 | $202.82 | $185.54 | -8.52% |
Jul 17, 2025 | $209.06 | $208.14 | -0.44% |
Apr 17, 2025 | $228.14 | $217.04 | -4.86% |
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 (MRSH) report earnings?
Marsh & McLennan Companies (MRSH) is schdueled to report earning on Apr 16, 2026, Before Open (Confirmed).
What is Marsh & McLennan Companies (MRSH) earnings time?
Marsh & McLennan Companies (MRSH) earnings time is at Apr 16, 2026, 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 MRSH EPS forecast?
MRSH EPS forecast for the fiscal quarter 2026 (Q1) is 3.25.