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.