Arthur J Gallagher & Co (AJG)
NYSE:AJG
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Earnings Data
Report Date
Jul 23, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
2.86Last Year’s EPS
2.33Same Quarter Last Year
Strong Buy
Based on 16 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveys a strongly positive operational and financial tone: robust revenue growth driven by both organic expansion and M&A, sustained adjusted EBITDAC momentum (24 quarters of double-digit growth), productive AssuredPartners integration with sizable synergy potential, an active M&A pipeline and disciplined capital deployment (share repurchases). Identified headwinds—most notably property premium declines, some reinsurance pricing pressure, E&S property competitiveness and short-term comparability noise from interest income on acquisition funds—are acknowledged but portrayed as manageable within the company’s diversified portfolio and strategic initiatives (AI, productivity, cross-selling). Given the magnitude and breadth of positive results and confidence in outlook vs. the limited and contained lowlights, the overall tone is favorable.Company Guidance
Strong Top-Line Growth Driven by M&A and Organic
Total revenue growth of 28% in Q1 driven by a two-pronged strategy: organic growth of 5% and M&A contribution of 23% (notably AssuredPartners). Brokerage revenues up 30% (organic 5%) and Risk Management (Gallagher Bassett) revenues up 14% (organic 10%).
Excellent Profitability and Margin Expansion
Combined net earnings grew 12% and adjusted EBITDAC increased 18% year-over-year. The company reported 24 consecutive quarters of double-digit adjusted EBITDAC growth. Underlying margin expansion continued: Brokerage expanded ~50 basis points this quarter (full-year underlying margin expansion guidance 40–60 bps) and Gallagher Bassett adjusted EBITDAC margin improved by ~130 basis points.
Adjusted Metrics Strong Despite Comparability Noise
Adjusted revenues, adjusted EBITDAC and adjusted EPS were all up ~30% year-over-year (management notes comparability noise due to interest income earned on funds held to buy AssuredPartners).
AssuredPartners Integration On Plan; Material Synergy Opportunity
AssuredPartners integration (8 months in) is tracking to plan with excellent client and employee retention. Management cites expected annualized run-rate synergies of $160 million by end of 2026 and up to $300 million by early 2028, with potential upside.
Active and Growing M&A Pipeline
Completed 9 tuck-in mergers in Q1 adding ~ $60 million of annualized revenue. Pipeline includes over 40 term sheets representing ~ $400 million of annualized revenue. Management estimates up to ~$10 billion of capacity to fund M&A (cash + expected free cash flow + borrowings) over next two years before using stock.
Share Repurchase and Capital Allocation
Repurchased approximately 1.4 million shares for about $310 million in the quarter; management described buybacks as opportunistic given perceived equity undervaluation while prioritizing organic growth and M&A.
Strong Performance in Benefits and Claims Management
Employee benefits business showing steady demand across health, retirement and voluntary benefits; Gallagher Bassett reported strong new business, excellent retention, product/service expansion and AI/ML deployment to improve claims experience and growth prospects.
Positive Commercial Renewal and Product Mix Dynamics
Excluding property, renewal premium changes increased 4% in the quarter with higher increases in the U.S. vs. international markets. Specific product renewals: professional lines +2%, workers' comp +2%, personal lines +4%, package +2%, casualty lines +4% overall. Supplementals and contingents combined were up nearly 10%.
AJG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
AJG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 30, 2026 | $206.40 | $208.11 | +0.83% |
Jan 29, 2026 | $245.09 | $248.61 | +1.44% |
Oct 30, 2025 | $260.54 | $248.07 | -4.79% |
Jul 31, 2025 | $285.00 | $281.94 | -1.07% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Arthur J Gallagher & Co (AJG) report earnings?
Arthur J Gallagher & Co (AJG) is schdueled to report earning on Jul 23, 2026, After Close (Confirmed).
What is Arthur J Gallagher & Co (AJG) earnings time?
Arthur J Gallagher & Co (AJG) earnings time is at Jul 23, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is AJG EPS forecast?
AJG EPS forecast for the fiscal quarter 2026 (Q2) is 2.86.