$AJG · Arthur J. Gallagher & Co.
Arthur J. Gallagher reported Q3 2026 revenue of $3.976B, up 18.2% YoY, driven by commissions of $2.371B (vs $1.908B) and fees of $1.224B. Net earnings attributable to controlling interests rose to $403M from $272M, with diluted EPS of $1.55 vs $1.04. Adjusted diluted EPS was $3.00 vs $2.31. Nine-month revenue reached $12.737B with net earnings of $1.549B.
- Q3 revenue $3.976B, +18.2% YoY; commissions $2.371B vs $1.908B.
- Diluted EPS $1.55 vs $1.04; adjusted EPS $3.00 vs $2.31.
- Net earnings attributable to controlling interests $403M vs $272M.
- Nine-month revenue $12.737B; net earnings $1.549B vs $1.344B.
- Dividend raised to $0.70/share from $0.65.
Markets closed — no regular-session reaction yet; extended-hours move not captured here.
Strong double-digit revenue and EPS growth plus margin expansion show the AssuredPartners deal is scaling earnings, though rising amortization weighs on GAAP results.
Brokerage organic revenue grew 5% and adjusted EBITDAC margin expanded 202bps to 35.3%, reflecting strong insurance brokerage pricing and M&A-driven scale.
Integration risk from the AssuredPartners acquisition and larger-than-usual deals; amortization of intangibles rose to $291M in Q3 from $222M, pressuring GAAP EPS.