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Compared to Estimates, Arthur J. Gallagher (AJG) Q3 Earnings: A Look at Key Metrics

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For the quarter ended September 2026, Arthur J. Gallagher (AJG - Free Report) reported revenue of $3.92 billion, up 17.5% over the same period last year. EPS came in at $3.00, compared to $2.32 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $3.97 billion, representing a surprise of -1.3%. The company delivered an EPS surprise of -0.33%, with the consensus EPS estimate being $3.01.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Arthur J. Gallagher performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Brokerage - Compensation expense ratio: 55.5% compared to the 54.9% average estimate based on three analysts.
  • Risk Management Segment - Operating expense ratio: 18.6% versus 18% estimated by three analysts on average.
  • Risk Management Segment - Compensation expense ratio: 59.3% compared to the 58.7% average estimate based on three analysts.
  • Brokerage - Operating expense ratio: 14.6% versus the three-analyst average estimate of 14.5%.
  • Revenues- Total Company- Fees: $1.22 billion versus the five-analyst average estimate of $1.24 billion. The reported number represents a year-over-year change of +15.8%.
  • Revenues- Total Company- Interest income, premium finance revenues and other income: $113 million compared to the $95.74 million average estimate based on five analysts. The reported number represents a change of -32.4% year over year.
  • Revenues- Brokerage Segment- Commissions: $2.37 billion versus $2.39 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +24.3% change.
  • Revenues- Total Company- Reimbursements: $46 million versus $45.75 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +14.4% change.
  • Revenues- Total Company- Revenues before reimbursements: $3.93 billion versus $3.94 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +18.2% change.
  • Revenues- Risk Management, as adjusted: $457 million versus $448.93 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +13.7% change.
  • Revenues- Total Company- Supplemental revenues: $148 million versus the four-analyst average estimate of $139.31 million. The reported number represents a year-over-year change of +25.9%.
  • Revenues- Total Company- Contingent revenues: $74 million versus $85 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.9% change.

View all Key Company Metrics for Arthur J. Gallagher here>>>

Shares of Arthur J. Gallagher have returned +14.2% over the past month versus the Zacks S&P 500 composite's +0.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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