NYSE$AJG
Arthur J.Gallagher & Co · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Arthur J. Gallagher & Co. reported financial results for the quarter ended March 31, 2023.
Arthur J. Gallagher & Co. had an excellent start to 2023, with core brokerage and risk management segments posting 12% reported revenue growth and 9.7% organic revenue growth. Net earnings grew by 12%, and adjusted EBITDAC increased by 15%, with an improved adjusted EBITDAC margin of 29 basis points.
- Core brokerage and risk management segments combined to post 12% reported revenue growth.
- Core brokerage and risk management segments combined to post 9.7% organic revenue growth.
- Net earnings increased by 12%.
- Adjusted EBITDAC grew by 15%, and the adjusted EBITDAC margin improved 29 basis points.
Headline financials
Revenue & EPS history
Arthur J. Gallagher · Revenue · Quarterly
$2.71B
Revenue by segment
Arthur J. Gallagher · $2.67B total across 2 segments · Q1 2023
- Brokerage$2.38B+11.9%88.9%
- Risk Management$298M+14.9%11.1%
Forward guidance
The company expects insurance and reinsurance pricing increases to continue throughout 2023 and beyond and believes they are very well positioned for the remainder of 2023.
Tailwinds
- Insurance and reinsurance pricing increases are expected to continue.
- Talented team will leverage expertise, data and insights.
- Well positioned for the remainder of 2023
- First quarter primary insurance market conditions are overall consistent with 2022 with renewal premiums up more than 9%.
- Continue to see growth in customers’ exposure units and payrolls.
Headwinds
- Property reinsurance market is very hard.
- Seeing tighter terms and conditions across a broader range of territories.
- Tighter terms and conditions even into casualty reinsurance lines.
- Changes in worldwide and national economic conditions, including the onset of a recession or economic downturn
- Inflation and related monetary policy responses, and failures of financial institutions and other counterparties
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+0.6%
Avg return
Earnings day
+1.1%
Avg return
5 days after
+3.1%
Avg return
30 days after
53%
36 / 68 earnings
Positive
+8.2%
Q4 2017
Best reaction
-4.6%
Q1 2014
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.7% | -4.6% | -2.6% | |
| Q4 2025 | -3.3% | +1.5% | -7.2% | |
| Q3 2025 | -0.7% | -6.7% | -11.6% | |
| Q2 2025 | +0.0% | +2.0% | +6.5% | |
| Q1 2025 | +4.1% | +6.9% | +9.4% | |
| Q3 2024 | -2.1% | -1.3% | +5.3% | |
| Q2 2024 | +3.4% | +3.9% | +4.9% | |
| Q1 2024 | -1.1% | -0.9% | +6.4% | |
| Q4 2023 | -2.5% | -3.6% | +2.5% | |
| Q3 2023 | -1.2% | +1.9% | +9.4% | |
| Q2 2023 | -1.6% | -0.2% | +3.6% | |
| Q1 2023 | +1.3% | +2.3% | -0.8% | |
| Q4 2022 | -1.7% | -0.7% | -6.3% | |
| Q3 2022 | +7.2% | +6.5% | +13.3% | |
| Q2 2022 | +3.3% | -0.6% | +8.3% | |
| Q1 2022 | -3.9% | -5.6% | -5.6% | |
| Q4 2021 | +0.9% | +2.4% | +4.0% | |
| Q3 2021 | +3.4% | +0.5% | +0.6% | |
| Q2 2021 | +1.3% | +0.8% | +4.5% | |
| Q1 2021 | +3.5% | +3.9% | +4.7% | |
| Q4 2020 | +2.0% | +4.0% | +5.9% | |
| Q3 2020 | -0.6% | +3.5% | +11.1% | |
| Q2 2020 | +2.6% | +0.6% | +0.2% | |
| Q1 2020 | -2.7% | +4.3% | +18.3% | |
| Q4 2019 | +3.8% | +6.0% | -1.3% | |
| Q3 2019 | -0.8% | -0.2% | +1.8% | |
| Q2 2019 | -0.0% | -0.6% | -4.7% | |
| Q1 2019 | +1.3% | +1.9% | +2.7% | |
| Q4 2018 | +5.5% | +7.6% | +10.2% | |
| Q3 2018 | +3.8% | +4.1% | +7.5% | |
| Q2 2018 | -0.4% | +0.3% | +1.4% | |
| Q1 2018 | -1.9% | -1.5% | -5.3% | |
| Q4 2017 | +8.2% | +6.5% | +5.9% | |
| Q3 2017 | +0.0% | +1.3% | +4.6% | |
| Q2 2017 | +1.3% | +0.9% | -0.5% | |
| Q1 2017 | -1.0% | -2.3% | +1.4% | |
| Q4 2016 | +1.5% | +0.1% | +5.7% | |
| Q3 2016 | -0.4% | -1.8% | +6.9% | |
| Q2 2016 | -0.6% | -1.1% | -1.0% | |
| Q1 2016 | +2.0% | — | — | |
| Q4 2015 | +1.9% | — | — | |
| Q3 2015 | +0.8% | — | — | |
| Q2 2015 | +1.2% | — | — | |
| Q1 2015 | +1.6% | — | — | |
| Q4 2014 | +2.6% | — | — | |
| Q3 2014 | +3.1% | — | — | |
| Q2 2014 | +0.1% | — | — | |
| Q1 2014 | -4.6% | — | — | |
| Q4 2013 | +1.2% | — | — | |
| Q3 2013 | +0.2% | — | — | |
| Q2 2013 | +1.7% | — | — | |
| Q1 2013 | +0.3% | — | — | |
| Q4 2011 | -0.3% | — | — | |
| Q1 2010 | -0.3% | — | — | |
| Q4 2012 | +1.8% | — | — | |
| Q3 2012 | -0.6% | — | — | |
| Q2 2012 | -0.2% | — | — | |
| Q1 2012 | -0.6% | — | — | |
| Q4 2010 | -1.6% | — | — | |
| Q3 2011 | -3.2% | — | — | |
| Q2 2011 | -3.0% | — | — | |
| Q1 2011 | +1.0% | — | — | |
| Q4 2008 | +0.6% | — | — | |
| Q3 2010 | -0.5% | — | — | |
| Q3 2009 | -0.5% | — | — | |
| Q4 2009 | +1.2% | — | — | |
| Q2 2009 | +1.2% | — | — | |
| Q2 2010 | +1.2% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro