Marsh & McLennan Q2 2026: 6% Revenue Growth, Greensill Settlement Advances, $1.5B in Buybacks
MRSH sits 16% above its 52-week low of $156.6.
Summary
Marsh & McLennan reported Q2 2026 revenue of $7.4 billion, up 6%, with diluted EPS of $2.63. The Greensill litigation remains a key risk, with a $425 million charge and a partial settlement. The company is executing a $500 million restructuring program and returning significant capital to shareholders.
Key Events · Earnings and Guidance · MRSH
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Q2 Revenue and Earnings
Revenue rose 6% to $7.4B, with underlying revenue growth of 5%. Diluted EPS increased 7% to $2.63, while operating income was $1.9B, up 4%.
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Greensill Litigation Update
A $425M charge was recorded in Q1 2026. In June 2026, a settlement was reached with Greensill Bank, but claims from Credit Suisse for ~$2B remain. Trial is scheduled for September 2026.
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Thrive Restructuring Program
The three-year program has incurred $239M in costs through June 2026, with $52M in Q2. Total expected cost is $500M, with $400M in annualized savings expected.
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Capital Returns
The company repurchased 8.7M shares for $1.5B in H1 2026. The quarterly dividend was raised 10% to $0.99 per share, payable in August 2026.
Analysis · MRSH · Finance
Marsh & McLennan delivered solid Q2 results with 5% underlying revenue growth and 9% adjusted EPS growth, but the quarter was overshadowed by the ongoing Greensill litigation. A $425 million charge was recorded in Q1, and while a settlement with Greensill Bank was reached in June, claims from Credit Suisse remain. The Thrive restructuring program is on track to deliver $400 million in annual savings. In other moves, the company upsized its credit facility to $4.25 billion, repurchased $1.5 billion in shares, and raised its dividend 10%. New employment terms for CFO Mark McGivney signal leadership stability. Overall, the results show resilience in the core business, but the Greensill overhang and restructuring costs are near-term headwinds.
At the time of this filing, MRSH was trading at $182.00 on NYSE in the Finance sector, with a market capitalization of approximately $87.7B. The 52-week trading range was $156.60 to $213.80. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.