Marsh McLennan has reported strong financial results for the first quarter of 2025, with consolidated revenue reaching $7.1 billion. This marks a 9% increase compared to the same period last year, and a 4% rise when looking at organic growth alone.
The company’s operating income for the quarter stood at $2.0 billion, which is slightly up from $1.9 billion in the first quarter of 2024. Meanwhile, net income was nearly flat at $1.38 billion, compared to $1.4 billion from the previous year. Earnings per share saw a slight dip of 1%, landing at $2.79, but adjusted earnings per share grew by 5% to $3.06.
The Risk and Insurance Services segment, which includes Marsh and Guy Carpenter, performed well, generating $4.8 billion in revenue. This is an 11% increase, with 4% growth on an organic basis. The operating income for this segment was $1.6 billion, consistent with the previous quarter, while adjusted operating income rose by 8% to $1.8 billion.
Breaking it down further, Marsh reported revenue of $3.5 billion, a 15% increase, with a 5% rise on an underlying basis. In the U.S. and Canada, underlying revenue grew by 4%. Internationally, the company saw notable growth, particularly in Latin America, which had an 8% increase, while EMEA and Asia Pacific saw growth of 6% and 4%, respectively. Guy Carpenter also had a solid quarter, with revenue of $1.2 billion, reflecting a 5% increase on both a GAAP and underlying basis.
John Doyle, the President and CEO of Marsh McLennan, expressed satisfaction with the company’s performance, highlighting the 9% revenue growth and contributions from acquisitions. He noted the solid start to the year, emphasizing underlying revenue growth and increases in adjusted operating income and earnings per share.
Overall, Marsh McLennan’s first quarter results showcase a robust performance across its business segments, driven by both organic growth and strategic acquisitions.