Citable filing context
MRSH's research view summarizes recent SEC filing context, starting with earnings from Jul 21, 2026.
| Filed | Item | Context |
|---|---|---|
| Jul 21, 2026 | earnings | Marsh & McLennan reported Q2 2026 revenue of $7.4 billion, a 6% increase, and adjusted EPS of $2.96. |
| Jun 4, 2026 | debt_offering | Marsh & McLennan entered into a new $4.25 billion five-year revolving credit facility, replacing a $3.5 billion facility. |
| May 22, 2026 | other | Marsh & McLennan Companies held its 2026 Annual Meeting of Stockholders on May 21, 2026. |
| Jul 21, 2026 | mda_quarterly | Marsh reported consolidated revenue of $7.4 billion for the second quarter of 2026, a 6% increase (5% underlying). For the six-month period, revenue reached $15.0 billion, up 7% (4% underlying). Operating income for the quarter rose 4% to $1.9 billion, though six-month operating income declined 5% to $3.7 billion, largely due to a $425 million charge related to the Greensill litigation. The Risk and Insurance Services segment, comprising Marsh Risk and Guy Carpenter, saw quarterly revenue grow 4% (3% underlying). Marsh Risk grew 4% on an underlying basis, driven by new business and renewals, despite headwinds from declining insurance premium rates. Guy Carpenter’s underlying revenue declined 2% in the quarter, pressured by falling reinsurance premium rates. The Consulting segment, including Mercer and Marsh Management Consulting, outperformed with 10% revenue growth (8% underlying), bolstered by strong demand in wealth and health services. The company is executing the "Thrive" restructuring program, targeting $400 million in annualized savings by 2028, with $239 million in costs incurred to date. Liquidity remains robust, supported by a new $4.25 billion revolving credit facility. Marsh continues to prioritize shareholder returns, repurchasing $1.5 billion in shares during the first half of 2026 and increasing its quarterly dividend to $0.99 per share. |
| Apr 16, 2026 | mda_quarterly | Marsh reported first-quarter 2026 consolidated revenue of $7.6 billion, an 8% increase (4% underlying), while operating income declined 12% to $1.8 billion. This profit contraction was primarily driven by a $425 million estimated liability and legal expense related to Greensill litigation, alongside increased compensation and benefits. Risk and Insurance Services revenue grew 6% to $5.1 billion, supported by new business and renewals at Marsh Risk, though partially offset by declining insurance and reinsurance premium rates. Consulting revenue rose 11% to $2.6 billion, with operating income increasing to $525 million; growth was led by Mercer’s Health and Wealth businesses, though Mercer’s Career segment contracted in the U.S. and Canada. The company is implementing its "Thrive" restructuring program, targeting $400 million in annualized savings against an estimated $500 million total cost. Capital management included $750 million in share repurchases and the issuance of $600 million in 4.950% senior notes due 2036 to replace maturing debt. Key headwinds include geopolitical conflicts in the Middle East, foreign exchange volatility, and macroeconomic pressures affecting GDP growth and insurance premium rates. |
| Feb 9, 2026 | mda | Marsh reported 2025 consolidated revenue of $27.0 billion, a 10% reported increase (4% underlying), with operating income rising 7% to $6.2 billion. The Risk and Insurance Services segment, comprising Marsh Risk and Guy Carpenter, generated $17.3 billion in revenue, growing 12% reported (4% underlying) through new business and renewals, despite declining insurance and reinsurance premium rates. Consulting revenue reached $9.8 billion, up 7% reported (5% underlying), driven by Mercer’s Health and Wealth lines, though Mercer’s Career business contracted due to reduced project work in the U.S. and Canada. A significant financial driver was the $7.75 billion acquisition of McGriff, funded primarily by $7.25 billion in senior notes, which increased interest expense. To improve efficiency, the company launched "Thrive," a three-year program targeting $400 million in annualized savings with an estimated $500 million cost. Capital allocation focused on shareholder returns, with $2.0 billion in share repurchases and $1.7 billion in dividends. Primary risks include geopolitical instability, inflation, and macroeconomic volatility affecting GDP growth and foreign exchange rates. Diluted earnings per share increased 3% to $8.43, reflecting operating growth partially offset by the debt costs associated with the McGriff transaction. |
Source: SEC EDGAR filing text and events; period Jul 21, 2026; filed Jul 21, 2026.
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