Arthur J. Gallagher & Co. reported strong results for the first quarter of 2026, driven primarily by its core brokerage business, which posted double-digit growth in revenue, earnings and EBITDA.
According to the report, Gallagher’s total revenue increased to $4.716 billion in the first quarter of 2026 from $3.688 billion in the same period last year.
Net profit also increased to $823 million in the first quarter of 2026, compared with $709 million in the first quarter of 2025, while EBITDAC climbed to $1.557 billion from $1.301 billion.
As mentioned above, the brokerage business continues to be the main growth driver, with reported revenue increasing to $4.293 billion in the first quarter of 2026 from $3.314 billion in the same period last year.
Net profit for the segment reached $913 million, compared with $816 million in the first quarter of 2025, while EBITDAC increased to $1.562 billion from $1.351 billion.
Gallagher’s risk management unit also saw year-over-year growth, albeit from a smaller base, with revenue climbing to $428 million from $374 million and net income rising to $50 million from $41 million.
Risk Management segment EBITDAC increased from $72 million to $86 million.
The combined brokerage and risk management business generated revenue of $4.721 billion in the first quarter of 2026, up from $3.688 billion in the same period last year, and net profit of $963 million, compared with $857 million in the same period last year. The combined segment’s EBITDAC increased from $1.423 billion to $1.648 billion.
At the same time, the company’s performance still dragged down the overall performance, with a net loss of US$140 million, compared with a loss of US$148 million in the same period last year. EBITDAC was also negative $91 million, down from negative $122 million in the first quarter of 2025.
J. Patrick Gallagher, Jr., Chairman and Chief Executive Officer, commented: “We had an outstanding first quarter! For our integrated brokerage and risk management segments, our two-pronged revenue growth strategy – organic growth and growth through acquisitions – resulted in 28% revenue growth in the quarter.
“Our 5% organic growth reflects strong customer retention, disciplined execution and the strength of our diverse platform. Net profit increased 12% and Adjusted EBITDAC increased 18%, marking our 24th consecutive quarter of double-digit Adjusted EBITDAC growth.
“Our results reflect the strength and consistency of our business model in a dynamic insurance and economic environment.
“We remain focused on organic growth, strategic acquisitions, investments in productivity and quality, and maintaining our culture.
“We also see the benefits of deeper collaboration between P&C brokerage, benefits and claims teams, enabled by real-world applications of artificial intelligence, automation and digital that enhance how we serve and advocate for our clients. We believe Gallagher is well-positioned to continue to deliver strong growth and long-term value to our shareholders.”