Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, reported financial results for the fourth quarter and year ended December 31, 2024.

According to the press release, consolidated revenue in the fourth quarter of 2024 was USD 6.1 billion, an increase of 9% compared with the fourth quarter of 2023, or 7% on an underlying basis.

Operating income was USD 1.1 billion. Adjusted operating income, which excludes noteworthy items as presented in the attached supplemental schedules, rose 9% to USD 1.3 billion. Net income attributable to the Company was USD 788 million. Earnings per share increased 5% to USD 1.59. Adjusted earnings per share increased 11% to USD 1.87 and included a benefit of 5 cents per share from favorable discrete tax items, as well as a headwind of 2 cents per share from foreign exchange.

For the full year 2024, revenue was USD 24.5 billion, an increase of 8% compared with 2023, or 7% on an underlying basis. Operating income was USD 5.8 billion, and adjusted operating income rose 11% to USD 6.2 billion. Net income attributable to the Company was USD 4.1 billion. Earnings per share increased 9% to USD 8.18. Adjusted earnings per share increased 10% to USD 8.80.

Key takeaways of the report:

• Full-Year Revenue Growth of 8%; Underlying Revenue Growth of 7%
• Full-Year GAAP Operating Income Increases 10%; Adjusted Operating Income Increases 11%
• Full-Year GAAP EPS of USD 8.18; Adjusted EPS Increases 10% to USD 8.80
• Fourth Quarter GAAP EPS of USD 1.59; Adjusted EPS Increases 11% to USD 1.87

"Our fourth quarter results capped a terrific year for Marsh McLennan. We delivered on our strategic objectives, generated excellent financial performance, and had the largest year of acquisitions in our history. For the full year, we generated 7% underlying revenue growth, 10% adjusted EPS growth and 80 basis points of adjusted margin expansion, marking our 17th consecutive year of reported margin expansion", commented John Doyle, President and CEO. "We are well positioned for another strong year in 2025, reflecting our unique capabilities and the enduring value we bring to clients", John Doyle added.

Full report can be found here.