Marsh & McLennan Reports 6% Revenue Growth to $7.4 Billion in Q2 2026

Marsh & McLennan Companies, Inc. reported a consolidated revenue of $7.4 billion for the three months ended June 30, 2026, marking a 6% increase from $6.97 billion in the same period last year. For the first half of 2026, revenue reached $15.0 billion, up 7% from $14.0 billion in the prior year. The company's operating income for the second quarter was $1.9 billion, a 4% increase compared to $1.83 billion in the previous year, while net income attributable to the company rose to $1.27 billion, or $2.63 per diluted share, reflecting a 7% increase in earnings per share from $2.45 in the prior year.

The financial performance was driven by growth in both the Risk and Insurance Services and Consulting segments. The Risk and Insurance Services segment generated $4.8 billion in revenue for the second quarter, a 4% increase year-over-year, while the Consulting segment saw a 10% increase in revenue to $2.6 billion. Notably, Marsh Risk's revenue increased by 6% to $4.1 billion, while Guy Carpenter's revenue decreased by 2% to $664 million. For the first half of 2026, the Risk and Insurance Services segment reported $9.9 billion in revenue, a 5% increase, while Consulting revenue reached $5.2 billion, also up 10%.

In terms of operational developments, Marsh & McLennan completed five acquisitions in the first half of 2026, with a total purchase consideration of $181 million. The company also recorded restructuring costs of $58 million and $103 million for the second quarter and first half of 2026, respectively, primarily related to severance and lease exit charges. The company continues to refine its restructuring program, Thrive, which aims to enhance operational efficiency and client service.

The company’s balance sheet showed total assets of $59.7 billion as of June 30, 2026, with cash and cash equivalents amounting to $1.7 billion. Marsh & McLennan's total liabilities were $44.2 billion, including $18.9 billion in long-term debt. The company repurchased approximately 8.7 million shares for $1.5 billion in the first half of 2026 and declared a quarterly dividend of $0.990 per share, payable in August 2026. The effective tax rate for the second quarter was 24.2%, slightly lower than the previous year’s rate of 25.2%.

Looking ahead, Marsh & McLennan anticipates continued revenue growth driven by demand for its services, although it remains cautious of macroeconomic factors such as geopolitical tensions and inflation that could impact its operations. The company is focused on leveraging its acquisitions and restructuring initiatives to enhance its market position and operational efficiency.