MRSH Marsh & McLennan (MRSH) Q3 FY25 earnings call
Marsh & McLennan delivered solid Q3 FY25 results, navigating an uneven economic environment and softening P&C pricing with 4% underlying revenue growth and 11% adjusted EPS growth. The company announced a rebranding to Marsh and launched the "Thrive" program, aiming for $400 million in savings over three years through operational efficiencies and AI adoption, which will support continued margin expansion and strategic investments. Management anticipates current market conditions to persist into 2026, but remains confident in its ability to execute across cycles.
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MRSH operating KPIs by quarter
| KPI | This call Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|
| Assets under management (AUM) Mercer | $683BOur assets under management were $683 billion at the end of the third quarter, up 2% sequentially and up 25% compared to the third quarter of last year.Source: earnings call transcript | $692BOur assets under management were $692 billion at the end of the fourth quarter, up 1% sequentially and up 12% compared to the fourth quarter of last year.Source: earnings call transcript | $727BOur assets under management were $727 billion at the end of the first quarter, up 5% sequentially and up 19% compared to the first quarter of last year.Source: earnings call transcript | $846BOur assets under management were $846 billion at the end of the second quarter, up 16% sequentially and up 26% compared to the second quarter of last year.Source: earnings call transcript | $843BOur assets under management were $843 billion at the end of the third quarter, flat sequentially and up 23% from the third quarter last year.Source: earnings call transcript | -0.4% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.