Earnings Call
Jul 30, 2026
Q2 FY2026
EPS Estimate
2.81
EPS Actual
2.84
Post-Earnings Close
$249.42
Earnings Reaction
-2.7%
Arthur J. Gallagher posted another strong quarter in Q2 2026, with combined brokerage and risk management revenues up 24% year-over-year and organic growth of 6%, precisely in line with the company's full-year guidance and its June Investor Day forecast. Stripping out the $144 million of investment income earned in Q2 2025 on funds held to acquire AssuredPartners (a one-time comparability distortion that will clear by Q4), adjusted revenues, EBITAC, and EPS each grew over 30%, underscoring the underlying momentum across the business. This marks 25 consecutive quarters of double-digit adjusted EBITAC growth, a streak that management attributes to disciplined execution across all four strategic pillars: organic growth, M&A, productivity improvement, and culture.
Report generated on Jul 31, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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