<span item_type="fundamental" item_id="5e9fc81c79dfb84c7f973ccdcfb78224" counter_id="ST/US/RYAN" env="prod"></span><span item_type="announcement" item_id="643777764960571905" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 795.23 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD 0.13.</p><p>EBIT: As of FY2026 Q1, the actual value is USD 148.33 M.</p><p></p><h3>Segment Revenue</h3><p>Ryan Specialty Holdings, Inc. operates as a single operating and reporting segment but disaggregates revenue by Specialty for the three months ended March 31, 2026, and 2025.</p><ul><li><h4>Wholesale Brokerage</h4><p>Net commissions and fees for Wholesale Brokerage increased to $377,796 thousand in 2026 from $360,788 thousand in 2025, representing a 4.7% increase, primarily due to organic growth and contributions from the JM Wilson acquisition.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li><li><h4>Binding Authority</h4><p>Net commissions and fees for Binding Authority increased to $110,000 thousand in 2026 from $101,950 thousand in 2025, a 7.9% increase, mainly driven by organic growth, increased contingent commissions, and contributions from the JM Wilson acquisition.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li><li><h4>Underwriting Management</h4><p>Net commissions and fees for Underwriting Management grew to $295,107 thousand in 2026 from $213,390 thousand in 2025, a 38.3% increase, attributable to strong organic growth, recent acquisitions, and higher contingent commissions.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li><li><h4>Total Net Commissions and Fees</h4><p>Total Net commissions and fees increased by $106,775 thousand, or 15.8%, from $676,128 thousand in 2025 to $782,903 thousand in 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li></ul><h3>Operational Metrics (Three Months Ended March 31)</h3><ul><li><h4>Total Revenue</h4><p>Total Revenue increased by $105,063 thousand (15.2%) from $690,166 thousand in 2025 to $795,229 thousand in 2026, driven by 11.0% organic revenue growth in Net commissions and fees, 2.3% from contingent commissions and foreign exchange rates, and 2.1% from acquisitions, partially offset by a - $1,712 thousand decrease in fiduciary investment income due to lower interest rates.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li><li><h4>Net Income (Loss)</h4><p>Net Income improved significantly from a loss of - $4,389 thousand in 2025 to an income of $40,597 thousand in 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li><li><h4>Operating Income</h4><p>Operating Income decreased by - $5,639 thousand (-5.6%) from $100,235 thousand in 2025 to $94,596 thousand in 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li><li><h4>Compensation and Benefits</h4><p>Compensation and Benefits increased by $64,887 thousand (15.1%) from $430,289 thousand in 2025 to $495,176 thousand in 2026, mainly due to the addition of 588 employees, business growth, and a $2,500 thousand increase in restructuring expenses, with the expense ratio remaining consistent at 62.3% in both periods.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li><li><h4>General and Administrative Expense</h4><p>General and Administrative Expense increased by $2,701 thousand (2.5%) from $106,060 thousand in 2025 to $108,761 thousand in 2026, primarily due to an $8,000 thousand increase in IT charges and $3,400 thousand in restructuring expenses, partially offset by a - $9,800 thousand decline in acquisition-related expenses, while the expense ratio decreased from 15.4% to 13.7%.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li><li><h4>Amortization</h4><p>Amortization increased slightly by $355 thousand (0.5%) from $64,985 thousand in 2025 to $65,340 thousand in 2026, mainly due to amortization of intangible assets from recent acquisitions.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li><li><h4>Depreciation</h4><p>Depreciation increased by $1,423 thousand (53.9%) from $2,639 thousand in 2025 to $4,062 thousand in 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li><li><h4>Change in Contingent Consideration</h4><p>The Change in Contingent Consideration shifted from a gain of - $14,042 thousand in 2025 to an expense of $27,294 thousand in 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li><li><h4>Interest Expense, Net</h4><p>Interest Expense, Net decreased by - $775 thousand (-1.4%) from $54,508 thousand in 2025 to $53,733 thousand in 2026, driven by a decrease in interest rates.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li><li><h4>Income Tax Expense</h4><p>Income Tax Expense decreased significantly by - $48,922 thousand (-88.3%) from $55,430 thousand in 2025 to $6,508 thousand in 2026, primarily due to a - $48,100 thousand non-cash deferred income tax expense from a common control reorganization in 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li></ul><h3>Cash Flow</h3><ul><li><h4>Cash Flows Used in Operating Activities</h4><p>Cash Flows Used in Operating Activities increased to - $167,411 thousand in 2026 from - $142,825 thousand in 2025, primarily due to an increase in Commissions and fees receivable – net of $60,700 thousand and a decrease in deferred income tax expense from common control reorganizations.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li><li><h4>Cash Flows Used in Investing Activities</h4><p>Cash Flows Used in Investing Activities decreased significantly to - $13,265 thousand in 2026 from - $573,035 thousand in 2025, mainly due to a reduction in business combinations, with capital expenditures being the primary activity in 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li><li><h4>Cash Flows Provided by Financing Activities</h4><p>Cash Flows Provided by Financing Activities decreased to $86,285 thousand in 2026 from $336,840 thousand in 2025, driven by net borrowings on the Revolving Credit Facility, offset by a net change in fiduciary liabilities, Class A common stock repurchases, and Class A common stock dividends.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li></ul><h3>Unique Metrics</h3><ul><li><h4>Organic Revenue Growth Rate</h4><p>The Organic Revenue Growth Rate was 11.8% in 2026, compared to 12.9% in 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li><li><h4>Adjusted EBITDAC</h4><p>Adjusted EBITDAC increased by $31,532 thousand (15.7%) from $200,501 thousand in 2025 to $232,033 thousand in 2026, with the Adjusted EBITDAC margin increasing from 29.1% to 29.2%.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li><li><h4>Adjusted Net Income</h4><p>Adjusted Net Income increased by $22,889 thousand (21.2%) from $107,839 thousand in 2025 to $130,728 thousand in 2026, with the Adjusted net income margin increasing from 15.6% to 16.4%.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li><li><h4>Adjusted Diluted Earnings Per Share</h4><p>Adjusted Diluted Earnings Per Share increased by $0.08 (20.5%) from $0.39 in 2025 to $0.47 in 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p></li></ul><h3>Future Outlook and Strategy</h3><p>Ryan Specialty Holdings, Inc. initiated the three-year Empower Program in Q1 2026, aiming to streamline operations and enhance efficiencies with an estimated cumulative cost of $160 million through 2028 and projected annual savings of approximately $80 million in 2029.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span> The company continues to pursue strategic acquisitions, deepen relationships with retail broker trading partners, and build its Delegated Authority business, while prioritizing investments in talent, technology, and product innovation.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span> Additionally, Ryan Specialty Holdings, Inc. approved a share repurchase program of up to $300 million of its outstanding Class A common stock and declared a quarterly cash dividend of $0.13 per share.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1849253/000184925326000026/ryan-20260331.htm"></span></p>

Ryan Specialty | 10-Q: FY2026 Q1 Revenue: USD 795.23 M