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NEW YORK - On Thursday, Marsh McLennan (NYSE:MMC) reported third-quarter earnings that exceeded analyst expectations, with adjusted earnings per share of $1.85, beating the consensus estimate of $1.79. Revenue rose 11% to $6.4 billion, slightly above the analyst forecast of $6.34 billion.
The company’s shares edged down 0.20% in pre-market trading following the announcement.
The professional services firm’s underlying revenue grew 4% YoY, 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 segment, which includes Marsh and Guy Carpenter, saw revenue increase 13% to $3.9 billion, with 3% underlying growth. Marsh’s revenue rose 16% to $3.4 billion, or 4% on an underlying basis, with international operations showing particularly strong performance in Asia Pacific (6% underlying growth).
Consulting revenue, encompassing Mercer and Oliver Wyman, grew 9% to $2.5 billion, with 5% underlying growth. Oliver Wyman stood out with 8% underlying revenue growth, while Mercer’s Health business increased 6% on an underlying basis.
The company also announced plans to rebrand as Marsh effective January 2026, with its four business units adopting the Marsh brand beginning in 2027. Additionally, MMC is creating a new Business and Client Services unit to accelerate 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 the year-to-date total to 4.6 million shares for $1 billion.
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