Marsh & McLennan Q4 EPS $2.12 Beats Estimates by 7.6% on Consulting Growth
Marsh & McLennan Companies delivered Q4 2025 adjusted EPS of $2.12, beating consensus by 7.6% and representing a 10% year-over-year increase. The performance was driven by growth in Risk and Insurance Services and Consulting—including Guy Carpenter, Mercer and Marsh Management Consulting—offset partially by higher operating expenses from compensation increases.
1. Q4 2025 Earnings Performance
Marsh & McLennan Companies reported adjusted EPS of $2.12 for the fourth quarter of 2025, surpassing the consensus estimate by 7.6% and marking a 10% year-over-year gain. Net income growth reflected sustained demand for risk advisory and consulting services.
2. Segment Growth
The Risk and Insurance Services segment saw robust expansion, while the Consulting unit—comprising Guy Carpenter, Mercer and Marsh Management Consulting—drove significant revenue increases through advisory projects and strategic engagements across multiple industries.
3. Expense Pressures
Despite top-line strength, operating expenses rose sharply due to increased compensation and benefits costs, which partially offset the earnings upside and weighed on operating margins for the quarter.