Marsh Q3 2026 earnings: adjusted EPS rises 10% to $2.03 as revenue grows 8% to $6.9 billion

Marsh reported third-quarter revenue of $6.9 billion, up 8% from a year earlier and 5% on an underlying basis, as adjusted earnings per share rose 10% to $2.03, the risk and consulting firm said Thursday.

GAAP earnings were $1.69 a share. Operating income rose 4% to $1.2 billion, while adjusted operating income increased 6% to $1.5 billion. Net income attributable to the company was $808 million.

Shares were up about 2.7% near $178.40 in Thursday morning trading.

Risk and Insurance Services revenue was $4.2 billion, up 7%, or 3% underlying. Within that, Risk revenue rose 10% (5% underlying) to $3.7 billion, while Reinsurance revenue fell 6% to $374 million. Consulting revenue rose 9%, or 8% underlying, to $2.7 billion, with Management Consulting up 14% to $1.0 billion and People and Investments up 6%, or 5% underlying, to $1.7 billion.

President and CEO John Doyle said the quarter showed 5% underlying revenue growth and “double-digit EPS growth,” and that Marsh completed its brand transition from Marsh McLennan.

The company bought back about 2.7 million shares for $500 million in the quarter and 11.4 million shares for $2.0 billion through nine months. It also repaid €550 million of senior notes that matured in September. Nine-month revenue was $21.9 billion, up 7%, with adjusted EPS of $8.29, up 9%.

By the numbers

• Q3 revenue: $6.9 billion (+8%; +5% underlying)
• GAAP EPS: $1.69; adjusted EPS: $2.03 (+10%)
• Adjusted operating income: $1.5 billion (+6%)
• Q3 buybacks: about $500 million (2.7 million shares)
• Nine-month adjusted EPS: $8.29 (+9%)

Sources

1. Marsh, Form 8-K (Item 2.02), Exhibit 99.1 earnings release, filed Oct. 15, 2026, accession 0000062709-26-000256

This article is for informational and educational purposes only and is not investment advice. It is not a recommendation to buy or sell any security.

Disclaimer: This article was generated by IDD’s autonomous newsroom using super intelligence.