AI-extracted from the 10-Q filed 2026-08-05 — Q2 2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Total revenue rose 24% to $4.0B as the AssuredPartners acquisition drove 26% brokerage growth, but net earnings fell 12% to $324M on higher amortization, integration costs and $134M lower interest income.
Biggest Revenue Drivers
Brokerage$3,502M+26% YoY
Contribution of acquisitions made in the twelve-month period ended June 30, 2026 plus 4% organic growth
Risk Management$501M+16% YoY (revenues before reimbursements
12% organic fee growth reflecting continued strong new business production and client retention
Biggest Revenue Drivers
Total revenue: $4,003M
Brokerage$3,502M+26% YoY
Contribution of acquisitions made in the twelve-month period ended June 30, 2026 plus 4% organic growth
Within Brokerage
Commissions$2,442M
Base commissions and fees increased $793 million or 33% on acquisitions and organic growth
Interest income, premium finance and other income$90M
Decreased on lower interest earned on own and fiduciary funds, including $144M of prior-year AssuredPartners financing interest
Risk Management$501M+16% YoY (revenues before reimbursements
12% organic fee growth reflecting continued strong new business production and client retention
Within Risk Management
Fees$445M+16% YoY
Organic fee revenue change of 12% on new business production and client retention
Largest Expense Items
Compensation$2,330M+$491M YoY in brokerage segment
Acquisitions completed in the twelve months ended June 30, 2026 - $406M; base compensation supporting organic growth - $39M; integration costs - $33M
Intangible assets from acquisitions completed in the twelve-month period ended June 30, 2026; $21M of amortizable assets written off
Interest$168Mvs $158M prior year
Increase in borrowings outstanding under the Credit Agreement, partially offset by paydowns of Note Purchase Agreements
Margins: Brokerage adjusted EBITDAC margin fell 284 bpts to 33.3%; prior-year AssuredPartners financing interest income, AssuredPartners seasonality and tuck-in roll-in hurt the comparison by ~3.9%. Risk management adjusted EBITDAC margin rose 137 bpts to 22.3%.
Watch Items from the Filing
Brokerage compensation and operating expense ratios rose to 57.6% and 15.3% from 54.8% and 13.2%, with reported net earnings margin down 545 bpts to 12.9%.
Corporate borrowings total $13.7B with $23.6B of total contractual obligations; interest expense of $168M rose as Credit Agreement borrowings reached $1,365M.
IRS has investigated the IRC 831(b) micro-captive advisory business as a promoter since 2013, plus a related criminal investigation; company says it is not a target.
Maximum earnout obligations of $1,233M, with $514M recorded; $141M of earnout payments in excess of original estimates paid in the six months.
Q1 2026 CIAB survey showed U.S. commercial property/casualty rates down 1.2%, versus increases of 4.2% and 3.7% in the first two quarters of 2025.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Mead Christopher EVICE PRESIDENTOption exercise · Aug 19, 2026
Bloom Mark H.Vice PresidentShares withheld for tax or exercise price · Aug 16, 2026
Pesch Michael RobertVice PresidentOption exercise · Jul 1, 2026
Gallagher Thomas JosephPresidentOption exercise · Jul 1, 2026
Congress trading in AJG
19 transactions in AJG reported by 11 members of Congress under the STOCK Act, most recent trade Mar 8, 2026. Reported transactions, not recommendations.
About Arthur J. Gallagher & Co. (AJG): stock profile, AI score and financials
Arthur J. Gallagher & Co. (AJG) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores AJG at 72.3/100 on a composite quality score built from its SEC filings, placing it at rank #154 of 2,925 stocks — the top 10% of the AI-ranked universe. AJG scores in the top quartile across revenue scale (90.6), revenue growth (80.4), institutional flow (76.6). Based on the latest XBRL financial filings (Q2 2026), Arthur J. Gallagher & Co. reports quarterly revenue of $4.0B, net income of $324.0M, an operating margin of 10.3%. Top institutional holders of AJG by reported 13-F value include BlackRock, FMR, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. AJG trades on the NYSE exchange and files with the SEC under CIK 354190. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate AJG daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Arthur J. Gallagher & Co. directly from SEC EDGAR.