Marsh McLennan (MRSH) official guidance
Marsh McLennan (MRSH) official earnings guidance and management outlook. Each figure management stated is shown with its revisions and the source quote.
See the full Filings Intelligence suiteMRSHMARSH & MCLENNAN COMPANIES, INC.FY2026 · ends 2026-12-31
1 metric1 maintainedearnings call · 15d
2026-10-15 13:57:44 UTC$5.5Bmaintained
We continue to expect to deploy approximately $5.5 billion of capital in 2026 across dividends, acquisitions, and share repurchases.
MRSH · transcript · Q3 FY2026
2026-10-15 13:56:00 UTCOpen source
2026-07-22 04:01:07 UTC$5.5Braised +10.0%
We now expect to deploy approximately $5.5 billion of capital in 2026 across dividends, acquisitions, and share repurchases, up from $5 billion previously.
MRSH · transcript · Q2 FY2026
2026-07-22 04:00:00 UTCOpen source
2026-04-17 04:01:04 UTC$5Bmaintained
We continue to expect to deploy approximately $5 billion of capital in 2026 across dividends, acquisitions, and share repurchases.
MRSH · transcript · Q1 FY2026
2026-04-17 04:00:00 UTCOpen source
2026-01-30 05:01:17 UTC$5Bnew
Looking ahead to 2026, based on our outlook today, we expect to deploy approximately $5 billion of capital across dividends, acquisitions, and share repurchases.
MRSH · transcript · Q4 FY2025
2026-01-30 05:00:00 UTCOpen source
MRSHMARSH & MCLENNAN COMPANIES, INC.Q4 FY2026 · ends 2026-12-31
1 metric1 newearnings call · 15d
2026-10-15 13:57:44 UTC$80Mnew
Looking ahead to the fourth quarter, we expect adjusted corporate expense of approximately $80 million.
MRSH · transcript · Q3 FY2026
2026-10-15 13:56:00 UTCOpen source
MRSHMARSH & MCLENNAN COMPANIES, INC.FY2028+ · ends 2028-12-31
1 metric1 newearnings call · 15d
2026-10-15 13:57:44 UTC$600Mnew
We now expect to generate $600 million in savings, with the vast majority of our actions taken by the end of 2028, and savings realized fairly evenly over the 3 years of the program.
MRSH · transcript · Q3 FY2026
2026-10-15 13:56:00 UTCOpen source
MRSHMARSH & MCLENNAN COMPANIES, INC.FY2026 · ends 2026-12-31
2 metrics1 maintainedearnings call · 15d
2026-10-15 13:57:44 UTC25%maintained
Based on the current environment, we expect an adjusted effective tax rate of around 25% for 2026.
MRSH · transcript · Q3 FY2026
2026-10-15 13:56:00 UTCOpen source
2026-07-22 04:01:07 UTC24.5% – 25.5%maintained
Based on the current environment, we continue to expect an adjusted effective tax rate of between 24.5% and 25.5% in 2026.
MRSH · transcript · Q2 FY2026
2026-07-22 04:00:00 UTCOpen source
2026-04-17 04:01:04 UTC24.5% – 25.5%maintained
Based on the current environment, we expect an adjusted effective tax rate of between 24.5% and 25.5% in 2026.
MRSH · transcript · Q1 FY2026
2026-04-17 04:00:00 UTCOpen source
2026-01-30 05:01:17 UTC24.5% – 25.5%new
Based on the current environment, we expect an adjusted effective tax rate of between 24.5% and 25.5% in 2026.
MRSH · transcript · Q4 FY2025
2026-01-30 05:00:00 UTCOpen source
2026-10-15 13:57:44 UTCsolid adjusted EPS growth
We also anticipate another year of margin expansion and solid adjusted EPS growth.
MRSH · transcript · Q3 FY2026
2026-10-15 13:56:00 UTCOpen source
2026-07-22 04:01:07 UTCsolid adjusted EPS growth
Turning to our outlook for 2026, we remain well-positioned for another solid year. We continue to expect underlying revenue growth will be similar to the levels we generated in 2025, along with another year of margin expansion and solid adjusted EPS growth.
MRSH · transcript · Q2 FY2026
2026-07-22 04:00:00 UTCOpen source
2026-04-17 04:01:04 UTCsolid adjusted EPS growth
We continue to expect underlying revenue growth in 2026 to be similar to last year. We also anticipate continued margin expansion and solid adjusted EPS growth.
MRSH · transcript · Q1 FY2026
2026-04-17 04:00:00 UTCOpen source
2026-01-30 05:01:17 UTCsolid adjusted EPS growthnew
We also anticipate continued margin expansion and solid adjusted EPS growth.
MRSH · transcript · Q4 FY2025
2026-01-30 05:00:00 UTCOpen source
MRSHMARSH & MCLENNAN COMPANIES, INC.Q4 FY2026 · ends 2026-12-31
3 metrics3 newearnings call · 15d
2026-10-15 13:57:44 UTCan immaterial effect on earningsnew
Based on current exchange rates, we expect FX will have an immaterial effect on earnings in the fourth quarter.
MRSH · transcript · Q3 FY2026
2026-10-15 13:56:00 UTCOpen source
2026-10-15 13:57:44 UTC$255Mnew
Based on our current forecast, we expect $255 million of interest expense in the fourth quarter.
MRSH · transcript · Q3 FY2026
2026-10-15 13:56:00 UTCOpen source
2026-10-15 13:57:44 UTC$94Mnew
Looking ahead, we expect fiduciary interest income will be approximately $94 million in the fourth quarter.
MRSH · transcript · Q3 FY2026
2026-10-15 13:56:00 UTCOpen source
MRSHMARSH & MCLENNAN COMPANIES, INC.FY2026 · ends 2026-12-31
1 metricearnings call · 15d
2026-10-15 13:57:44 UTCanother year of margin expansion
We also anticipate another year of margin expansion and solid adjusted EPS growth.
MRSH · transcript · Q3 FY2026
2026-10-15 13:56:00 UTCOpen source
2026-07-22 04:01:07 UTCanother year of margin expansion
Turning to our outlook for 2026, we remain well-positioned for another solid year. We continue to expect underlying revenue growth will be similar to the levels we generated in 2025, along with another year of margin expansion and solid adjusted EPS growth.
MRSH · transcript · Q2 FY2026
2026-07-22 04:00:00 UTCOpen source
2026-04-17 04:01:04 UTC9%9% vs FY2025
Let me remind everybody, of course, we've guided to 9% of margin expansion this year, and we fully expect to do that.
MRSH · transcript · Q1 FY2026
2026-04-17 04:00:00 UTCOpen source
2026-01-30 05:01:17 UTCcontinued margin expansionnew
We also anticipate continued margin expansion and solid adjusted EPS growth.
MRSH · transcript · Q4 FY2025
2026-01-30 05:00:00 UTCOpen source
MRSHMARSH & MCLENNAN COMPANIES, INC.FY2028+ · ends 2028-12-31
1 metric1 raisedearnings call · 15d
2026-10-15 13:57:44 UTC$750Mraised +50.0%
We expect costs associated with generating these savings will be approximately $750 million.
MRSH · transcript · Q3 FY2026
2026-10-15 13:56:00 UTCOpen source
2026-01-30 05:01:17 UTC$500Mnew
We continue to expect to generate $400 billion of total savings, a portion of which will be reinvested for growth, and incur approximately $500 million of charges to generate the savings.
MRSH · transcript · Q4 FY2025
2026-01-30 05:00:00 UTCOpen source
MRSHMARSH & MCLENNAN COMPANIES, INC.FY2026 · ends 2026-12-31
1 metric1 newearnings call · 15d
2026-10-15 13:57:44 UTChigh single-digit growthnew7% – 9% vs FY2025
For the full year, Management Consulting is on pace for high single-digit growth, which would imply a roughly flat top line in Q4 due in part to the timing I mentioned.
MRSH · transcript · Q3 FY2026
2026-10-15 13:56:00 UTCOpen source
MRSHMARSH & MCLENNAN COMPANIES, INC.Q4 FY2026 · ends 2026-12-31
1 metric1 newearnings call · 15d
2026-10-15 13:57:44 UTCroughly flat top linenew
For the full year, Management Consulting is on pace for high single-digit growth, which would imply a roughly flat top line in Q4 due in part to the timing I mentioned.
MRSH · transcript · Q3 FY2026
2026-10-15 13:56:00 UTCOpen source
MRSHMARSH & MCLENNAN COMPANIES, INC.FY2026 · ends 2026-12-31
1 metricearnings call · 15d
2026-10-15 13:57:44 UTCsimilar to last year
Looking ahead, we continue to expect underlying revenue growth in 2026, similar to last year.
MRSH · transcript · Q3 FY2026
2026-10-15 13:56:00 UTCOpen source
2026-07-22 04:01:07 UTCunderlying revenue growth will be similar to the levels we generated in 2025
Turning to our outlook for 2026, we remain well-positioned for another solid year. We continue to expect underlying revenue growth will be similar to the levels we generated in 2025, along with another year of margin expansion and solid adjusted EPS growth.
MRSH · transcript · Q2 FY2026
2026-07-22 04:00:00 UTCOpen source
2026-04-17 04:01:04 UTCsimilar to last year
We continue to expect underlying revenue growth in 2026 to be similar to last year.
MRSH · transcript · Q1 FY2026
2026-04-17 04:00:00 UTCOpen source
2026-01-30 05:01:17 UTCsimilar to last yearnew
We expect underlying revenue growth in 2026 to be similar to last year.
MRSH · transcript · Q4 FY2025
2026-01-30 05:00:00 UTCOpen source
MRSHMARSH & MCLENNAN COMPANIES, INC.Q3 FY2026 · ends 2026-09-30
1 metric1 newearnings call · 2026-07-22 04:01:07 UTC
2026-07-22 04:01:07 UTC$75Mnew
Looking ahead to the third quarter, we expect adjusted corporate expense of approximately $75 million.
MRSH · transcript · Q2 FY2026
2026-07-22 04:00:00 UTCOpen source
MRSHMARSH & MCLENNAN COMPANIES, INC.Q4 FY2026 · ends 2026-12-31
1 metric1 newearnings call · 2026-07-22 04:01:07 UTC
2026-07-22 04:01:07 UTCan immaterial impact on earningsnew
Based on current exchange rates, we expect FX will have an immaterial impact on earnings in the third quarter and the rest of the year.
MRSH · transcript · Q2 FY2026
2026-07-22 04:00:00 UTCOpen source
MRSHMARSH & MCLENNAN COMPANIES, INC.Q3 FY2026 · ends 2026-09-30
3 metrics3 newearnings call · 2026-07-22 04:01:07 UTC
2026-07-22 04:01:07 UTCan immaterial impact on earningsnew
Based on current exchange rates, we expect FX will have an immaterial impact on earnings in the third quarter and the rest of the year.
MRSH · transcript · Q2 FY2026
2026-07-22 04:00:00 UTCOpen source
2026-07-22 04:01:07 UTCa similar level of interest expensenew
Based on our current forecast, we expect a similar level of interest expense in the third quarter.
MRSH · transcript · Q2 FY2026
2026-07-22 04:00:00 UTCOpen source
2026-07-22 04:01:07 UTC$95Mnew
Looking ahead, we expect fiduciary interest income will be approximately $95 million in the third quarter.
MRSH · transcript · Q2 FY2026
2026-07-22 04:00:00 UTCOpen source
MRSHMARSH & MCLENNAN COMPANIES, INC.Q4 FY2026 · ends 2026-12-31
1 metric1 newearnings call · 2026-07-22 04:01:07 UTC
2026-07-22 04:01:07 UTCmore margin expansion in the fourth quarter than in the third quarternew
For modeling purposes, we expect more margin expansion in the fourth quarter than in the third quarter.
MRSH · transcript · Q2 FY2026
2026-07-22 04:00:00 UTCOpen source
MRSHMARSH & MCLENNAN COMPANIES, INC.Q3 FY2026 · ends 2026-09-30
1 metric1 newearnings call · 2026-07-22 04:01:07 UTC
2026-07-22 04:01:07 UTCmid to high single digitsnew4% – 9% vs Q3 FY2025
Looking ahead to the third quarter, we expect underlying growth for Marsh Management Consulting will likely be in the mid to high single digits.
MRSH · transcript · Q2 FY2026
2026-07-22 04:00:00 UTCOpen source