Marsh's first quarter 2026 revenue rose 8% to $7.6B, beating estimates and driven by broad-based growth.

Marsh reported first quarter revenue of $7.6 billion, an 8% increase year-over-year, with underlying revenue up 4%. Adjusted earnings per share grew 8% to $3.29. GAAP operating income declined 12%, impacted by a significant litigation charge, while adjusted operating income increased 8%.

Key Highlights

• The Consulting segment demonstrated strong momentum, with revenue increasing 11% (5% underlying) to $2.6 billion, driven by growth in both Mercer and Marsh Management Consulting.
• Risk & Insurance Services revenue grew 6% (3% underlying) to $5.1 billion, with adjusted operating income for the segment up 7% to $1.9 billion.
• GAAP operating income included a $425 million charge related to the Greensill litigation, which drove the 12% year-over-year decline.
• The company returned $750 million to shareholders through the repurchase of 4.2 million shares during the quarter.