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Arthur J. Gallagher (AJG) investor relations material
Arthur J. Gallagher Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary30 Oct, 2025
Executive summary
Achieved 20% total revenue growth in Q3 2025, with 4.8% organic growth and 22% adjusted EBITDAC growth year-over-year, marking the 19th consecutive quarter of double-digit top-line growth, driven by organic initiatives and major acquisitions, notably AssuredPartners.
Completed the $13.8 billion acquisition of AssuredPartners in August 2025, adding approximately 10,900 employees and setting synergy targets for the next three years.
Provided both actual and estimated financials for Q3 2025, including and excluding AssuredPartners.
Net earnings attributable to controlling interests increased 12% to $1.34 billion for the nine-month period, with diluted EPS at $5.16, down 4% year-over-year due to acquisition-related costs.
The brokerage segment contributed 87% of revenues, while risk management accounted for 13%.
Financial highlights
Q3 2025 GAAP EPS was $1.76; adjusted EPS was $2.87, with a $0.22 impact from intra-quarter seasonality of AssuredPartners.
Brokerage segment Q3 2025 adjusted EBITDAC margin was 33.5%, with net earnings of $410.4 million and adjusted EBITDAC of $981.6 million.
Risk management segment Q3 2025 adjusted EBITDAC margin reached 21.8%, with revenues of $401.9 million.
Interest income from AssuredPartners financing contributed $363 million in the nine-month period.
Adjusted diluted EPS for the total company was $8.32, up 5% year-over-year.
Outlook and guidance
Brokerage segment Q4 organic growth expected around 5%, with full-year organic growth above 6%.
Risk management segment Q4 organic growth expected at 7%, with full-year margins around 21%.
Clean energy investments projected to generate annual net after-tax cash flows greater than $180 million in 2025 and over $200 million in 2026 and beyond.
Integration expenses for AssuredPartners and Woodruff Sawyer are projected at $575 million and $150 million, respectively, over three years.
Early 2026 outlook suggests similar performance to 2025, with stable organic growth and margin expansion.
AssuredPartners: expected net margin impact?
Clean energy investments: strategic rationale?
What drives sustained organic revenue growth?
How will AP drive wholesale organic growth?
Drivers of 2026 organic growth despite pricing?
Appetite for large M&A post-AssuredPartners?
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Next Arthur J. Gallagher earnings date
Q4 202530 Jan, 2026
Next Arthur J. Gallagher earnings date
Q4 202530 Jan, 2026
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Frequently asked questions
Arthur J. Gallagher & Co. is an international insurance brokerage and risk management services firm, providing clients with insurance, risk management, and benefit consulting solutions. They offer global expertise in risk management and employee benefits consultation through their array of insurance offerings and provide leading-edge technology to deliver cost-effective solutions. The company was incorporated in 1927 and is headquartered in Rolling Meadows, Illinois.
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