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# Gallagher Third-Quarter Earnings Per Share Climb To $1.55 From $1.04 As AssuredPartners Rolls In
- URL: https://www.bullished.co/gallagher-third-quarter-earnings-per-share-climb-to-1-55-from-1-04-as-assuredpartners-64bb0810/
- Published: 2026-10-29T20:39:44.000Z
- Updated: 2026-10-29T20:39:44.000Z
- Description: The insurance broker posted a 26th straight quarter of double-digit adjusted EBITDAC growth, with organic growth of 5%.
- Author: Matteo Parrino
- Tags: Earnings, AJG, Industry: Financials

Arthur J. Gallagher, the insurance brokerage, said [net earnings reached $406 million](https://www.sec.gov/Archives/edgar/data/0000354190/000162828026068263/ajg-20261029.htm?ref=bullished.co) in the third quarter, up from $273 million a year earlier, as the AssuredPartners acquisition lifted revenue. Diluted earnings per share rose to $1.55 from $1.04, the company reported Thursday.

## Revenue and profit, year over year

Revenue before reimbursements came to [$3,930 million](https://www.sec.gov/Archives/edgar/data/0000354190/000162828026068263/a3rdquarter2026earningsrel.htm?ref=bullished.co), against $3,325 million a year earlier. Adjusted earnings per share were $3.00 versus $2.31, and adjusted EBITDAC, a profit measure before interest, taxes, depreciation, amortization and earnout changes, was $1,253 million versus $1,013 million.

Chairman and CEO J. Patrick Gallagher, Jr. said the combined Brokerage and Risk Management segments grew revenue 18%, including organic growth of 5%. Net earnings and adjusted EBITDAC each grew 25%, which he called the "26th consecutive quarter of double-digit adjusted EBITDAC growth."

Brokerage net earnings were $515 million versus $409 million. Risk Management earned $61 million versus $50 million, with organic fee growth of 10%.

## What AssuredPartners does to the comparison

Gallagher, which brokers insurance and reinsurance and administers claims for businesses, public bodies and insurers, raised about $14 billion through a stock offering and senior notes to fund AssuredPartners, which closed in the third quarter of 2025 for about $14 billion. AssuredPartners revenue is excluded from organic growth.

The year-earlier quarter also carried about $76 million of interest income on the cash raised for the deal, which flatters that comparison.

Tuck-in deals slowed: five acquisitions closed in the quarter with about $102 million of estimated annualized revenue, versus six deals and $3,036 million a year earlier.

## Buybacks, dividends and the call

Gallagher repurchased about 0.4 million shares for about $100 million in the quarter, and declared dividends of $0.70 per share, up from $0.65.

Management hosts a webcast call at 5:15 p.m. ET Thursday. A CFO Commentary posted on its investor site carries estimates for 2026 and later results.

The webcast call at 5:15 p.m. ET Thursday is the next chance to hear management on the AssuredPartners roll-in.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — Arthur J. Gallagher & Co. (AJG)](https://www.sec.gov/Archives/edgar/data/0000354190/000162828026068263/ajg-20261029.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit a3rdquarter2026earningsrel.htm — Arthur J. Gallagher & Co. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000354190/000162828026068263/a3rdquarter2026earningsrel.htm?ref=bullished.co) — SEC EDGAR
- [Arthur J. Gallagher & Co. Announces Third Quarter 2026 Financial Results](https://www.prnewswire.com/news-releases/arthur-j-gallagher--co-announces-third-quarter-2026-financial-results-302924163.html?ref=bullished.co) — prnewswire.com
- [Arthur J. Gallagher & Co. Announces Regular Fourth Quarter Dividend](https://www.prnewswire.com/news-releases/arthur-j-gallagher--co-announces-regular-fourth-quarter-dividend-302921370.html?ref=bullished.co) — prnewswire.com