Arthur J. Gallagher & Co. has reported strong Q1 2026 results, with double-digit growth in revenue, earnings, and EBITDA, led primarily by its core brokerage operations.
On an as-reported basis, Gallagher’s total revenues rose to $4.716 billion for Q1 2026, up from $3.688 billion in the same period of last year.
Net earnings also increased to $823 million in Q1 2026, compared with $709 million in Q1 2025, while EBITDAC climbed to $1.557 billion from $1.301 billion.
As noted, the brokerage segment remained the primary growth driver, with reported revenue rising to $4.293 billion in Q1 2026, up from $3.314 billion in the prior-year period.
Net earnings in the segment reached $913 million, compared with $816 million in Q1 2025, while EBITDAC rose to $1.562 billion from $1.351 billion.
Gallagher’s risk management segment also delivered year-on-year gains, albeit on a smaller base, with revenues climbing to $428 million from $374 million, and net earnings rising to $50 million from $41 million.
EBITDAC in the risk management segment improved to $86 million from $72 million.
Combined brokerage and risk management operations generated $4.721 billion in revenue in Q1 2026, up from $3.688 billion a year earlier, with net earnings of $963 million compared with $857 million. EBITDAC for the combined segments rose to $1.648 billion from $1.423 billion.
Meanwhile, corporate results remained a drag on overall performance, posting a net loss of $140 million, compared with a $148 million loss in the prior-year quarter. EBITDAC was also negative $91 million, down from negative $122 million in Q1 2025.
J. Patrick Gallagher, Jr., Chairman and CEO, commented, “We had a terrific first quarter! For our combined brokerage and risk management segments, our two-pronged revenue growth strategy – growing both organically and through acquisitions – delivered revenue growth of 28% in the quarter.
“Our organic growth of 5% reflected strong client retention, disciplined execution, and the benefit of our diversified platform. Net earnings increased 12%, and adjusted EBITDAC grew 18%, marking our 24th consecutive quarter of double-digit adjusted EBITDAC growth.
“Our results reflect the strength and consistency of our business model across the dynamic insurance and economic environment.
“We remain focused on organic growth, strategic mergers and acquisitions, investment in productivity and quality, and maintaining our culture.
“We are also seeing the benefit of deeper collaboration across our P&C brokerage, benefits, and claims teams, supported by practical applications of AI, automation, and digitisation that enhance how we serve and advocate for our clients. We believe Gallagher is well-positioned to continue delivering strong growth and long‑term value for our shareholders.”
