Overview
- MMC posted EPS of $1.85 on revenue of $6.351 billion, topping estimates as consulting strength and resilient margins supported results.
- CEO John Doyle called the quarter solid, citing 11% reported revenue growth (4% underlying) and double‑digit gains in adjusted operating income and adjusted EPS.
- Slowing property and casualty pricing and economic uncertainty pressured results, with U.S. and Canada organic growth at 3% and the Marsh Global Insurance Market Index down 4% year over year.
- The new ‘Thrive’ program targets $400 million in savings through efficiency, automation and AI, alongside plans to consolidate branding under Marsh that analysts say could aid cross‑selling but may sacrifice legacy names like Mercer and Guy Carpenter.
- KBW upgraded the stock to Market Perform and cut its price target to $191 while raising 2025–2027 cash EPS estimates; Wells Fargo maintained Equal‑Weight with a $212 target, and shares traded higher around $187.50–$190.30.