Marsh Reports 8% Revenue Rise and 10% Adjusted EPS Growth in Q3 2026
Marsh (NYSE:MRSH) reported an 8% increase in third-quarter revenue to $6.9 billion compared to the prior year period, with underlying revenue rising 5%. Net income attributable to the company reached $808 million, or $1.69 per share. Adjusted earnings per share rose 10% to $2.03, while adjusted operating income increased 6% to $1.5 billion.
Growth during the quarter was driven largely by the consulting side of the business, where revenue increased 9% to $2.7 billion. Management consulting performed especially well, jumping 14% on both a GAAP and underlying basis to $1.0 billion. In contrast, risk and insurance services generated $4.2 billion in revenue, up 7%, though reinsurance revenue declined 6% to $374 million. Additionally, the company spent $500 million to repurchase 2.7 million shares during the quarter, bringing year-to-date buybacks to $2.0 billion.
Investors will be looking at whether management consulting can maintain its double-digit growth momentum and if reinsurance revenue can stabilize in upcoming quarters. Markets will also monitor the continuing execution of the Thrive corporate efficiency program following the company's recent brand transition from Marsh McLennan.
Key points
- Consolidated revenue rose 8% year-over-year to $6.9 billion in the third quarter of 2026, with underlying revenue expanding 5%.
- Adjusted earnings per share jumped 10% to $2.03, while net income attributable to the company totaled $808 million.
- Management consulting revenue grew 14% to $1.0 billion, offsetting a 6% revenue decline in the reinsurance unit.
- Marsh repurchased $500 million in stock during the quarter, bringing total nine-month share buybacks to $2.0 billion.
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What were Marsh's financial results for Q3 2026?
Marsh reported $6.9 billion in consolidated revenue for the third quarter of 2026, an 8% increase compared to the prior year period. Net income reached $808 million, and adjusted earnings per share rose 10% to $2.03.
How did Marsh's different business segments perform in Q3 2026?
Consulting revenue grew 9% to $2.7 billion, led by a 14% surge in management consulting. Risk and insurance services revenue grew 7% to $4.2 billion, though reinsurance revenue dropped 6% to $374 million.
How much stock did Marsh repurchase in the third quarter of 2026?
Marsh repurchased approximately 2.7 million shares of stock for $500 million during the third quarter, bringing its nine-month total share repurchases to $2.0 billion for 11.4 million shares.