Arthur J. Gallagher & Co. Earnings Summary — Q1 2026

• Revenue for Q1 2026 reached $4.76 billion, a significant 27.66% increase year-over-year.
• Net income jumped to $823 million, representing a 16.76% growth compared to the same quarter last year.
• Operating income showed a substantial sequential recovery, rising from $390 million in Q4 2025 to $1.22 billion in Q1 2026.
• The company continues to absorb higher interest expenses, which totaled $158 million for the quarter.
• Inorganic growth remains a primary driver, with assets moving significantly higher following recent large-scale integrations.
• Operating margins improved sharply on a quarter-over-quarter basis as the company exited the typically lower-margin year-end period.
• The 2021 Willis Re acquisition continues to provide scale, contributing to the firm’s status as a global brokerage powerhouse.

Management remains focused on maintaining a high-quality compounder status through disciplined M&A execution and clean organic growth, targeting high integration transparency and performance alignment with EBITDAC.

Improving

Quarterly performance showed a massive rebound in profitability and margin compared to the previous quarter, maintaining strong double-digit year-over-year revenue momentum.

The company is positioned for continued expansion in a hard insurance market, leveraging its diversified global brokerage and risk management mix to navigate interest rate sensitivities.