NYSE$RYAN

Ryan Specialty Group Holdings, Inc. · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Ryan Specialty Group's financial performance was strong, marked by substantial revenue growth and strategic advancements.

Ryan Specialty Group reported a 49.0% increase in total revenue to $352.8 million. The company's organic revenue growth rate was 28.9%. A net loss of $32.6 million was reported, influenced by $58.6 million in one-time IPO-related costs. Adjusted net income increased by 51.1% to $62.9 million.

  • Total revenue increased by 49.0% year-over-year, reaching $352.8 million.
  • Organic revenue growth rate was 28.9% for the quarter.
  • Net loss was $32.6 million, including $58.6 million of one-time IPO costs.
  • Adjusted net income grew by 51.1% to $62.9 million.

Headline financials

Total Revenue

$353M

Previous: $237M+49.0%
EPS (adj)

$0.24

Previous: $0.10+150.3%
Organic Revenue Growth

28.9%

Previous: 13.6%+112.5%
Capital Expenditures

-$6.43M

No prior period
Free Cash Flow

-$7.76M

No prior period
Net Income

-$1.33M

Previous: $10.2M-113.1%
Operating Income

-$730K

Previous: $24M-103.0%
Gross Profit

$353M

Previous: $83.4M+323.1%
Cash & Equivalents

$414M

No prior period
Total Assets

$4.86B

No prior period

Revenue & EPS history

Ryan Specialty Group · Revenue · Quarterly

$353M

Q3 2021+49%vs Q3 2020
Beat estimate in 5 of 11 quarters(45%)
ActualEstimate

Revenue by segment

Ryan Specialty Group · $353M total across 3 segments · Q3 2021

  • Wholesale Brokerage
    $229M
  • Underwriting Management
    $70.7M
  • Binding Authority
    $52.8M

Forward guidance

The Company is raising its full year 2021 outlook for both Organic Revenue Growth Rate and Adjusted EBITDAC Margin

Tailwinds

  • Organic Revenue Growth Rate for full year 2021 is now expected to be between 21.5% - 22.5%, compared to the Company’s prior outlook of between 18.0% - 20.0%.
  • Adjusted EBITDAC Margin for full year 2021 is now expected to be between 31.5% - 32.0%, compared to the Company’s prior outlook of between 30.0% - 30.5%.
  • The company is raising its full year 2021 outlook for both Organic Revenue Growth Rate and Adjusted EBITDAC Margin
  • Organic Revenue Growth Rate for full year 2021 is now expected to be between 21.5% - 22.5%.
  • Adjusted EBITDAC Margin for full year 2021 is now expected to be between 31.5% - 32.0%.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 17 quarterly earnings reports · overlaid with Q3 2021

Historical avgQ3 2021

-0.3%

Avg return

Earnings day

+0.5%

Avg return

5 days after

+3.5%

Avg return

30 days after

50%

9 / 18 earnings

Positive

+11.6%

Q1 2022

Best reaction

-22.5%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-10.5%-15.5%-8.6%
Q3 2025+8.1%+9.4%+14.6%
Q1 2025+3.2%+9.4%+10.4%
Q4 2024-4.7%+0.6%+3.6%
Q3 2024-5.9%-3.5%+7.7%
Q2 2024+11.3%+4.7%+4.9%
Q1 2024-1.8%-0.5%+5.9%
Q4 2023+7.8%+13.9%+17.9%
Q3 2023+2.6%+2.6%+4.5%
Q2 2023-2.0%-1.6%+11.1%
Q1 2023+2.8%+5.3%+2.1%
Q4 2022-3.8%-5.2%-7.9%
Q3 2022-22.5%-22.7%-7.0%
Q2 2022-0.6%+0.4%-5.9%
Q1 2022+11.6%+13.3%+5.6%
Q4 2021-10.7%-7.9%+0.3%
Q3 2021+7.5%+2.2%+2.3%
Q2 2021+2.4%+4.7%+1.8%
Q1 2021
Q4 2020
Q3 2020
Q2 2020
Q1 2020

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