The sharp deceleration in organic growth from 15% to 4% and the maintained guidance for a modestly lower margin suggest the challenging market is pressuring both top-line and profitability. Monitor the next quarter for any guidance revision or further margin compression.
Price Chart
Executive Summary
Ryan Specialty reported Q3 2026 total revenue of $790.0 million, up 4.7% YoY, and adjusted diluted EPS of $0.51, up 8.5% YoY. Organic revenue growth slowed to 4.0% from 15.0% a year ago, and the company maintained full-year guidance for mid-single-digit organic growth and a modestly lower adjusted EBITDAC margin. The board declared a regular quarterly dividend of $0.13 per share.
Key Financial Metrics
Key Facts
- Total revenue grew 4.7% YoY to $790.0 million in Q3 2026, compared to $754.6 million in Q3 2025.
- Organic revenue growth rate was 4.0% for Q3 2026, down from 15.0% in Q3 2025.
- Adjusted diluted EPS grew 8.5% to $0.51, compared to $0.47 in the prior-year period.
- Net income increased 40.6% to $88.0 million, driven by solid revenue growth and relatively flat total operating expenses.
- Adjusted EBITDAC grew 3.8% to $244.4 million, with margin of 30.9% vs 31.2% a year ago.
- The company returned $173.7 million to shareholders via $150.0 million in share repurchases (3.5 million shares) and $23.7 million in dividends and distributions.
- Full-year 2026 guidance maintained: mid-single-digit organic revenue growth rate and adjusted EBITDAC margin down modestly vs prior year.
- Board declared a regular quarterly dividend of $0.13 per share, payable November 24, 2026.
Financial Impact
Revenue $790.0M, adjusted diluted EPS $0.51, adjusted EBITDAC $244.4M
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Wholesale Brokerage | $394.3M | +4.6% |
| Binding Authority | $93.0M | +3.8% |
| Underwriting Management | $287.8M | +5.4% |
Risk Factors
- Organic revenue growth decelerated sharply to 4.0% from 15.0% a year ago, indicating a more challenging market.
- Adjusted EBITDAC margin contracted 30 basis points YoY to 30.9%, and full-year guidance points to further modest compression.
- The company is executing a restructuring program (Empower Program) that added $23.9M in expenses in Q3, which could signal underlying cost pressures.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001849253-26-000045 |
| Document: 0001849253-26-000045-index.html | 0001849253-26-000045 |
| Document: 0001849253-26-000045.txt | 0001849253-26-000045 |
| 8-K Data (Synthetic) | 0001849253-26-000045 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | 8-K | $43.04 | awaiting T+60 | awaiting T+60 | $43.84 (+1.86%) |
Jun 11, 2026 20w ago | Insider Cluster | $35.64 $40.87 | ▲ +14.67% | ▲ +11.41% | $43.84 (+23.01%) |
Jun 8, 2026 20w ago | Insider Cluster | $31.65 $42.32 | ▲ +33.71% | ▲ +30.66% | $43.84 (+38.52%) |
May 26, 2026 22w ago | 8-K | $32.33 $42.21 | ▲ +30.56% | ▲ +27.84% | $43.84 (+35.60%) |
Mar 30, 2026 30w ago | Court Ruling | $32.83 $35.95 | ▲ +9.49% | ▼ −7.00% | $43.84 (+33.52%) |
Mar 17, 2026 32w ago | DEFA14A | $34.87 $34.49 | ▼ −1.10% | ▼ −12.63% | $43.84 (+25.71%) |
US Market Status
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