Arthur J. Gallagher reports Q4 adjusted EPS $2.38, consensus $2.35

Reports Q4 revenue $3.59B, consensus $3.56B. “We had an excellent Q4 and a terrific 2025!” said CEO J. Patrick Gallagher, Jr. “Our two-pronged revenue growth strategy, that’s organic and M&A, drove double-digit top line growth for the 20th straight quarter. Q4 revenue growth for our combined Brokerage and Risk Management segments was in excess of 30% and included organic revenue growth of 5%. Net earnings margin was 10.2%, adjusted EBITDAC margin was 30.8% and adjusted EBITDAC grew 30%. We finished 2025 with 21% growth in revenue, 6% organic growth, 26% growth in adjusted EBITDAC and completed 33 mergers with more than $3.5B in estimated annualized revenue. Another fantastic year. We have excellent momentum entering 2026 and our talented colleagues are executing on our value creation strategy. We are extremely excited about 2026 and believe we are just getting started!”