Marsh & Mclennan

Q2 FY2026 EarningsQ2 FY2026 results beat consensus across the board, with revenue of $7.4B exceeding the $7.27B estimate and adjusted EPS of $2.96 surpassing the $2.89 mean. Growth was primarily driven by the Consulting segment, particularly Management Consulting (+13% underlying), while the core Risk & Insurance segment remained resilient with 4% GAAP growth. Despite a slight miss in GAAP operating income due to noteworthy restructuring and litigation charges, adjusted operating margins remained healthy at 29.3%, and the 10% dividend hike signals continued management confidence in cash flow generation.