Arthur J. Gallagher & (AJG) Q1 2026 Earnings
How Did AJG Stock React to Q1 2026 Earnings?
S&P 500 over the same 30 days: +4.66%.
Did AJG Beat Earnings? Q1 2026 Results
Yes. Arthur J. Gallagher & reported Q1 2026 earnings of $4.47 a share on Apr 30, 2026, beating the $4.43 consensus estimate by 1.0%. Revenue was $4.8B against a $4.8B estimate.
Arthur J. Gallagher & Co. delivered a largely solid first quarter for 2026, posting adjusted earnings per share of $4.47 against the $4.43 consensus estimate for a 1.01% beat, while revenue of $4.76 billion came in fractionally below the $4.77 billion forecast, a miss of just 0.18%. The headline growth story was unmistakable, however, with total revenue climbing 27.6% year over year from $3.73 billion, driven almost entirely by the weight of the company's $14.00 billion AssuredPartners acquisition, which closed in August 2025 and added roughly 10,900 employees to a workforce that now totals 72,373. The brokerage segment alone generated $4.29 billion in revenues, while the risk management segment posted 10% organic fee growth and margin expansion to 21.7%. A heavier debt load, now including $9.55 billion in public debt, pressured the corporate segment with a $251.00 million pretax loss. Management pointed to ongoing integration of AssuredPartners and Woodruff Sawyer, alongside AI and automation investments, as pillars supporting continued organic and acquisitive growth ahead.
- 28% combined brokerage and risk management revenue growth driven by organic growth and acquisitions
- 5% total organic revenue growth reflecting strong client retention and disciplined execution
- Brokerage organic base commissions and fees grew 4%, supplemental revenues grew 16% organically
- Risk Management organic fee growth of 10%
- 18% adjusted EBITDAC growth marking 24th consecutive quarter of double-digit adjusted EBITDAC growth
- Risk Management adjusted EBITDAC margin expanded to 21.7% from 20.4% due to headcount controls
- Savings from headcount controls across both segments
“We had a terrific first quarter! For our combined brokerage and risk management segments, our two-pronged revenue growth strategy – growing both organically and through acquisitions – delivered revenue growth of 28% in the quarter. Our organic growth of 5% reflected strong client retention, disciplined execution, and the benefit of our diversified platform. Net earnings increased 12%, and adjusted EBITDAC grew 18%, marking our 24th consecutive quarter of double-digit adjusted EBITDAC growth.”
Arthur J. Gallagher & CEO, on the earnings call
What Was Arthur J. Gallagher &'s Outlook in Q1 2026?
Management expressed confidence in Gallagher's positioning for continued strong growth and long-term shareholder value creation. The company remains focused on organic growth, strategic M&A, productivity investment through AI, automation and digitization, and maintaining its culture. The CEO noted the benefit of deeper collaboration across P&C brokerage, benefits, and claims teams. The company also highlighted its ongoing integration of AssuredPartners and Woodruff Sawyer acquisitions.
AJG YoY Financials
| Metric | Q1 2026 | Q1 2025 | Year over year |
|---|---|---|---|
| Revenue | $4.8B | $3.7B | +27.7% |
| Net Income | $823.0M | $704.4M | +16.8% |
| Operating Income | $1.0B | $1.0B | −0.4% |
AJG Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.