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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Elyse Greenspan | Wells Fargo | 15 (7%) |
| Dave Motemaden | Evercore ISI | 15 (13%) |
| Mike Zaremski | BMO Capital Markets | 13 (15%) |
| Mark Hughes | Truist Securities | 13 (8%) |
| Greg Peters | Raymond James | 11 (18%) |
| Andrew Andersen | Jefferies | 10 (0%) |
| Andrew Kligerman | TD Cowen | 10 (10%) |
| Katie Sakys | Autonomous Research | 8 (25%) |
| Meyer Shields | KBW | 7 (0%) |
| Rob Cox | Goldman Sachs | 6 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| BMO Capital Markets | 2 | 17 (12%) |
| Wells Fargo | 1 | 15 (7%) |
| Evercore ISI | 1 | 15 (13%) |
| Truist Securities | 1 |
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 |
| 13 (8%) |
| Raymond James | 1 | 11 (18%) |
| KBW | 3 | 11 (0%) |
| Jefferies | 1 | 10 (0%) |
| TD Cowen | 1 | 10 (10%) |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin |
|---|---|---|---|---|---|---|
| FY2024 Q4 | $2.72B | +11.4% | $1.12 | +846.7% | 17.4% | 9.5% |
| FY2025 Q1 | $3.73B | +14.5% | $2.72 | -0.7% | 28.1% | 18.9% |
| FY2025 Q2 | $3.22B | +16.0% | $1.40 | +10.2% | 19.4% | 11.4% |
| FY2025 Q3 | $3.37B | +19.9% | $1.05 | -24.5% | 15.9% | 8.1% |
| FY2025 Q4 | $3.63B | +33.6% | $0.58 | -48.2% | 9.4% | 4.2% |
| FY2026 Q1 | $4.76B | +27.6% | $3.16 | +16.2% | 25.6% | 17.3% |
| FY2026 Q2 | $4.00B | +24.3% | $1.25 | -10.7% | 14.7% | 8.1% |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What AJG and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“As for the AssuredPartners acquisition, we are following our proven integration playbook developed from doing over 750 mergers over the last 20 years.”
Gallagher reports its AssuredPartners integration is on plan eight months in, driving 23% M&A revenue growth.
| 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% |