Ryan Specialty Q3 revenue grows on new clients, strong retention
RYAN•Ryan Specialty's third-quarter revenue rose 4.7% to $789.96 million, slightly below analyst expectations, while adjusted EPS increased 8.5% to $0.51 and beat estimates. The company returned $173.7 million to shareholders and expects mid-single-digit organic revenue growth in 2026.
1. Quarterly results
Third-quarter revenue was $789.96 million, versus analyst expectations of $793.94 million. Adjusted EPS was $0.51, above the $0.49 consensus, and adjusted net income was $137.12 million.
2. Growth and outlook
The company said organic revenue growth was driven by new client wins, strong renewal retention, expanded relationships and continued flow into specialty and excess and surplus markets. Most casualty lines grew, offset by a moderate decline in the property portfolio. Ryan Specialty expects mid-single-digit organic revenue growth in 2026 and a modest decline in adjusted EBITDAC margin compared with the prior year.
3. Shareholder returns
Ryan Specialty returned $173.7 million to shareholders through share buybacks and dividends. Higher compensation and restructuring costs related to the Empower Program partially offset lower acquisition-related expenses.
