Arthur J. Gallagher & Co. (AJG) Earnings Call Transcripts
Arthur J. Gallagher & Co.'s Latest Earnings Call - Q2 FY2026
In the second quarter of fiscal year 2026, Arthur J. Gallagher & Co. reported a robust 24% increase in total revenue, driven by a 6% organic growth rate and strong performance across both Brokerage and Risk Management segments. Adjusted EBITDAC grew significantly, marking 25 consecutive quarters of double-digit growth. Management maintained its full-year organic growth guidance at 6%, signaling confidence in continued momentum despite a moderating pricing environment in property insurance. The company also highlighted a strong M&A pipeline, with 7 acquisitions completed in the quarter, contributing to overall growth.
Reported metrics
| Metric | Value |
|---|---|
| Total Revenue | $2.1B (beat) |
| Organic Growth Rate | 6% (inline) |
| Brokerage Revenue Growth | 26% (positive) |
| Risk Management Revenue Growth | 16% (positive) |
| Adjusted EBITDAC | $500M (beat) |
| Adjusted EBITDAC Margin | 22.3% (positive) |
Guidance from management
Management maintained its full-year organic growth guidance at 6%, with specific expectations of 5.5% for Brokerage and 9% for Risk Management. They expressed confidence in achieving these targets despite a moderating pricing environment.
What management said
I think the cost of AI will be de minimis for the savings that we will be able to realize because we have already put in the cost effort to centralize and standardize our data and our processes. So I think a lot of that cost, it's not directly to the technology called AI. It's the cost of implementing it and then changing your environment. So I believe we have already spent that money. So the cost for us to continue ...
Greg, I think here's the answer to that question is I wouldn't model much. Our acquisition pipeline is pretty darn good right now. And I think you're going to see more and more brokers that realize that the tools and capabilities that their customers need, they just can't do it. They just can't do it themselves. And so they need to -- great with their customers. They have great relationships, but we get to bring them...
What analysts pressed on
Analysts expressed concerns regarding the sustainability of organic growth in a moderating pricing environment, particularly in property insurance. There were questions about whether Gallagher could maintain growth momentum if pricing continues to decline.
Main topics on the call
- Strong Revenue Growth — Arthur J. Gallagher reported total revenue growth of 24% in Q2 2026, with Brokerage revenues up 26% and Risk Management revenues up 16%. Management stated, "Our team's disciplined execution delivered another excellent qu...
- Organic Growth Performance — The company achieved a 6% organic growth rate, with Brokerage organic growth at 5% and Risk Management at 12%. Management noted that "client retention remains strong" and that they are benefiting from increased complexit...
- M&A Strategy and Pipeline — Gallagher completed 7 tuck-in acquisitions during the quarter, contributing approximately $63 million in estimated annualized revenue. The management highlighted a strong pipeline with over 30 term sheets signed, represe...
- Guidance Maintenance — Management maintained its full-year organic growth guidance at 6%, with Brokerage at 5.5% and Risk Management at 9%. They expressed confidence in achieving these targets despite a moderating pricing environment.
Read the full Arthur J. Gallagher & Co. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co. (AJG) is a publicly listed company in the Insurance industry, within the Financials sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 56 calls on record spanning January 30, 2020 to July 30, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 56 Arthur J. Gallagher & Co. earnings call transcripts on record, spanning January 30, 2020 to July 30, 2026. Based on this history, Arthur J. Gallagher & Co. reports quarterly. The most recent call on file is dated July 30, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- AJG
- Exchange
- NYSE
- Country
- US
- Sector
- Financials
- Industry
- Insurance
- Calls on record
- 56
- First call
- January 30, 2020
- Most recent
- July 30, 2026
- Reporting cadence
- quarterly