Arthur J Gallagher

Q2 FY2026 EarningsFY26 Q2 results presented a mixed profile against consensus: GAAP revenue of $4,003M slightly missed the $4,041M estimate (-0.93%), while GAAP EPS of $1.25 fell short of the $1.75 mean expectation (-28.57%). However, non-GAAP adjusted metrics remained robust, with the Brokerage segment delivering 26% total revenue growth and 5% organic growth. The 17% increase in adjusted diluted EPS to $2.84, which beat the $2.81 consensus, underscores strong underlying operational performance and successful integration of the AssuredPartners acquisition despite high interest expense and one-time pension termination charges.