Marsh McLennan revenue rises 8% despite $425M litigation charge

Marsh McLennan (NYSE:MRSH), the world’s leading professional services firm in the areas of risk, strategy, and people, today reported financial results for the first quarter ended March 31, 2026.

The company saw a consolidated revenue increase of 8% to $7.6 billion compared with the first quarter of 2025.

On an underlying basis, which excludes the impact of currency fluctuations and acquisitions, revenue grew 4%.

The quarterly results were impacted by a $425 million charge related to the ongoing Greensill litigation, which contributed to a 12% decline in GAAP operating income to $1.8 billion.

However, looking past this noteworthy item, the company’s core operations remained strong.

Adjusted operating income, which excludes the litigation charge and intangible amortization, rose 8% to $2.4 billion.

Adjusted earnings per share also increased 8% to $3.29, surpassing the Zacks Consensus Estimate of $3.21.

The Risk & Insurance Services segment continued to be a primary driver of growth, generating $5.1 billion in revenue, up 6% from the prior year.

Within this segment, Marsh Risk reported revenue of $3.7 billion, an 8% increase (4% underlying).

In the Consulting segment, revenue grew significantly, supported by sustained demand for Mercer’s health and wealth services as corporate clients navigate evolving labor markets and inflationary pressures.

Meanwhile, net income attributable to the company for the quarter was $1.1 billion, or $2.36 per diluted share.