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Sentiment · FY2026 Q1
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Dave Motemaden | Evercore ISI | 13 | 15% |
| Elyse Greenspan | Wells Fargo | 13 | 0% |
| Mark Hughes | Truist Securities | 11 | 9% |
| Mike Zaremski | BMO Capital Markets | 10 | 10% |
| Greg Peters | Raymond James | 9 | 22% |
| Katie Sakys | Autonomous Research | 8 | 25% |
| Andy Andersen | Jefferies | 8 | 0% |
| Andy Kligerman | TD Cowen | 8 | 13% |
| Rob Cox | Goldman Sachs | 6 | 0% |
| Meyer Shields | KBW | 5 | 0% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| BMO Capital Markets | 2 | 14 | 7% |
| Wells Fargo | 1 | 13 | 0% |
| Evercore ISI | 1 | 13 | 15% |
| KBW | 4 |
| 11 |
| 9% |
| Truist Securities | 1 | 11 | 9% |
| Raymond James | 1 | 9 | 22% |
| Autonomous Research | 1 | 8 | 25% |
| Jefferies | 1 | 8 | 0% |
Gallagher grew Q1 revenue 28% with 5% organic as M&A contributed 23% including the full impact of AssuredPartners, which was tracking to integration milestones with AI and digital tools driving higher hit ratios across the combined sales force. Adjusted EBITDAC margin expanded 50 basis points as net earnings grew 12% and adjusted EBITDAC grew 18%. Property pricing approached a cycle trough though the organic growth outlook remained resilient, and management expressed further confidence in the full-year 6% organic target.
Revenue Growth | Competitive Dynamics | Pricing | Guidance Reliability | M&A | Margin | Demand | Capital Allocation | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 13 | 4 | 4 | 6 | 4 | 2 | 4 | 1 |
| 2025Q1 | 10 | 7 | 7 | 5 | 3 | 1 | 1 | 1 |
| 2025Q2 | 7 | 5 | 6 | 4 | 4 | 3 | 1 | |
| 2025Q3 | 11 | 7 | 5 | 4 | 4 | 3 | 2 | 1 |
| 2025Q4 | 7 | 7 | 4 | 8 | 6 | 4 | 3 | 2 |
| 2026Q1 | 6 | 3 | 5 | 3 | 1 | 2 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 13 | 10 | 7 | 11 | 7 | 6 |
| Competitive Dynamics | 4 | 7 | 5 | 7 | 7 | 3 |
| Pricing | 4 | 7 | 6 | 5 | 4 | 5 |
| Guidance Reliability | 6 | 5 | 4 | 4 | 8 | |
| M&A | 4 | 3 | 4 | 4 | 6 | 3 |
| Margin | 2 | 1 | 3 | 3 | 4 | 1 |
| Demand | 4 | 1 | 1 | 2 | 3 | 2 |
| Capital Allocation | 1 | 1 | 1 | 2 | 1 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
AJG Arthur J. Gallagher & Co. | 6 | +27.6% | |
| AON Aon | 7 | +6.5% | |
| BRO Brown & Brown | 6 | +37.3% | |
| MRSH Marsh & McLennan Companies, Inc. | 6 | +7.6% | |
| WTW Willis Towers Watson | 5 | +8.5% |