Core Viewpoint - Ryan Specialty Group reported quarterly earnings of $0.41 per share, matching the Zacks Consensus Estimate, and showing an increase from $0.32 per share a year ago [1] - The company posted revenues of $604.69 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 0.01%, and up from $501.94 million year-over-year [2] Financial Performance - The earnings surprise for the previous quarter was 1.75%, with actual earnings of $0.58 per share against an expected $0.57 [1] - Over the last four quarters, the company has surpassed consensus EPS estimates only once [1] - Ryan Specialty shares have increased approximately 62.7% year-to-date, compared to a 22.3% gain in the S&P 500 [3] Future Outlook - The company's earnings outlook is crucial for assessing future stock performance, with current consensus EPS estimates at $0.47 for the upcoming quarter and $1.81 for the current fiscal year [4][7] - The Zacks Rank for Ryan Specialty is currently 2 (Buy), indicating expected outperformance in the near future [6] Industry Context - The Insurance - Brokerage industry is ranked in the top 30% of over 250 Zacks industries, suggesting a favorable environment for stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and earnings estimate revisions, which can be tracked by investors [5]

Revenue Growth - Total revenue for Q3 2024 increased by 20.5% year-over-year to $604.7 million, up from $501.9 million in the prior-year period[1] - Total revenue for Q3 2024 reached $604,694,000, a 20.4% increase from $501,938,000 in Q3 2023[34] - Total revenue for the three months ended September 30, 2024, was $604,694,000, a 20.4% increase from $501,938,000 in the same period of 2023[48] Organic Revenue Growth - Organic revenue growth rate was 11.8% for the quarter, compared to 15.0% in the prior-year period[3] - The full year 2024 organic revenue growth rate is projected to be between 13.0% and 14.0%[14] - Organic revenue growth (Non-GAAP) for the nine months ended September 30, 2024, was 13.3%, compared to 15.0% in the same period of 2023[42] Net Income and Earnings - Net income rose 82.4% year-over-year to $28.6 million, compared to $15.7 million in the prior-year period, with diluted earnings per share at $0.09[5] - Net income for the three months ended September 30, 2024, was $28,643,000, compared to $15,703,000 for the same period in 2023, representing an increase of 82.5%[48] - Adjusted net income increased 31.2% to $113.6 million, with an adjusted net income margin of 18.8%, compared to 17.3% in the prior-year period[7] - Adjusted net income for Q3 2024 was $113,633,000, a 31.1% increase from $86,631,000 in Q3 2023[35] Operating Expenses - Total operating expenses for Q3 2024 were $523.2 million, a 21.1% increase compared to the prior-year period[4] - Compensation and benefits expense for the three months ended September 30, 2024, was $393,249,000, compared to $329,212,000 in the same period of 2023, representing an increase of 19.5%[43] - General and administrative expense ratio for the three months ended September 30, 2024, was 14.7%, compared to 13.8% in the same period of 2023[45] Commissions and Fees - Net commissions and policy fees for Q3 2024 reached $555,282,000, a 17.6% increase from $470,085,000 in Q3 2023[11] - Net commissions and fees increased to $588,129,000, up 20.6% from 487,345,000 year-over-year[34] - Total net commissions and fees for the nine months ended September 30, 2024, were $1,806,264,000, representing a 19.8% increase from $1,507,878,000 in the same period of 2023[12] Financial Position - As of September 30, 2024, the company had cash and cash equivalents of $235.2 million and outstanding debt of $2.7 billion[12] - Total assets as of September 30, 2024, were $8,478,503,000, up from $7,247,209,000 at the end of 2023[37] - Total liabilities increased to $7,376,971,000 from $6,267,565,000 at the end of 2023[37] Shareholder Returns - Capital return to shareholders and LLC unit holders was $19.0 million in regular dividends and distributions[1] - The company declared a quarterly dividend of $0.11 per share, payable on November 26, 2024[13] Acquisitions and Investments - The company executed five acquisitions through the beginning of October 2024, enhancing current offerings and expanding the total addressable market[1] - Business combinations for the nine months ended September 30, 2024, resulted in cash outflows of $1,256,732,000, compared to $366,149,000 in the same period of 2023, indicating a significant increase in investment activity[40] Guidance and Outlook - Adjusted EBITDAC margin guidance for full year 2024 is between 32.0% and 32.5%[14] - The company is unable to provide a comparable outlook for total revenue growth rate or net income margin due to the difficulty in forecasting certain reconciling items[14] - The company will host a conference call to discuss these results on October 30, 2024, at 5:00 PM ET[15]

Financial Data and Key Metrics Changes - Total revenue increased by 18.8% year-over-year to $695 million, driven by organic growth of 14.2% and contributions from M&A adding nearly 5 percentage points to the top line [5][33] - Adjusted EBITDAC grew by 27.6% to $248 million, with an adjusted EBITDAC margin expanding by 240 basis points to 35.6% [5][33] - Adjusted diluted EPS rose by 28.9% to $0.58 per share [5][33] Business Line Data and Key Metrics Changes - The acquisition of US Assure is expected to enhance the Programs segment of Delegated Underwriting Authority, which will now account for 28% of total revenue [9][10] - The company anticipates that the US Assure acquisition will drive double-digit organic growth moving forward [60] Market Data and Key Metrics Changes - The property market remains firm despite some rate moderation, with the company capturing new business and retaining its book at a high level [42][26] - The casualty market is experiencing increasing loss costs, driving rate increases across various industry classes [27][28] Company Strategy and Development Direction - The company is focused on expanding its capabilities in attractive markets, particularly in the SME segment of the builders risk and construction market [12][13] - The strategic acquisition of US Assure aligns with the company's mission to provide innovative solutions for insurance brokers, agents, and carriers [8][12] - The company is also forming strategic relationships with MagMutual and Private Client Select to enhance its offerings in healthcare and high net worth homeowners insurance [16][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth of the business, citing strong macro tailwinds in the construction industry and a structural housing shortfall in the U.S. [12][77] - The company expects to maintain a strong balance sheet while returning excess cash to shareholders, creating long-term sustainable value [38] Other Important Information - The company announced a quarterly dividend of $0.11 payable later this month [33] - The ACCELERATE 2025 program is on track to achieve annual savings of approximately $60 million by 2025 [34] Q&A Session Summary Question: Is the margin guidance upside solely from the transaction? - Management clarified that the new margin guidance includes US Assure and the significant uptick is almost entirely due to this acquisition [39] Question: What led to the sequential acceleration in organic revenue growth? - Management noted that property was a strong contributor, and despite rate moderation, the flow of business into E&S remains healthy [41][42] Question: How significant is the opportunity with AIG? - Management indicated that there is no revenue embedded in the guidance from this relationship, but it represents a significant upside opportunity [43] Question: Is there notable seasonality in US Assure's revenue or margins? - Management confirmed that there is no noticeable seasonality, as US Assure has a substantial amount of enforced policies throughout the year [46][47] Question: What is the economic sensitivity of the business? - Management highlighted that US Assure has shown exceptional double-digit growth throughout the cycle, despite pressures from higher interest rates [76][77]

RYAN RYAN SPECIALTY'S ACQUISITION OF US ASSURE AUGUST 2024 DISCLAIMER Forward-Looking Statements: This presentation by Ryan Specialty Holdings, Inc. (the "Company," "we," "us") contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that involve substantial risks and uncertainties and that reflect the Company's current expectations and projections with respect to, among other things, its plans, objectives, and business. These forward-looking statement ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40645 | --- | --- | --- | --- | |---------------------------------------------------------------------------------------------------------- ...

Ryan Specialty Group (RYAN) came out with quarterly earnings of $0.58 per share, beating the Zacks Consensus Estimate of $0.57 per share. This compares to earnings of $0.45 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 1.75%. A quarter ago, it was expected that this insurance company would post earnings of $0.35 per share when it actually produced earnings of $0.35, delivering no surprise. Over the last four quarters, the c ...

RYAN SPECIALTY REPORTS SECOND QUARTER 2024 RESULTS - Total Revenue grew 18.8% year-over-year to $695.4 million - - Organic Revenue Growth Rate* of 14.2% year-over-year - - Net Income of $118.0 million, or $0.37 per diluted share - - Adjusted EBITDAC* grew 27.6% year-over-year to $247.7 million - - Adjusted Net Income increased 29.8% year-over-year to $160.6 million, or $0.58 per diluted share - August 1, 2024 | CHICAGO, IL — Ryan Specialty Holdings, Inc. (NYSE: RYAN) ("Ryan Specialty" or the "Company"), a l ...

Ryan Specialty Group (RYAN) shares ended the last trading session 7.7% higher at $59.60. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.2% gain over the past four weeks. This insurance company is expected to post quarterly earnings of $0.57 per share in its upcoming report, which represents a year-over-year change of +26.7%. Revenues are expected to be $705.89 million, up 20.6% from the year-ago quarter. The sto ...

NEW YORK, June 20, 2024 /PRNewswire/ -- Ryan Specialty Holdings Inc. (NYSE:RYAN) will replace Apartment Income REIT Corp. (NYSE:AIRC) in the S&P MidCap 400 effective prior to the opening of trading on Friday, June 28. Blackstone Inc. (NYSE: BX) is acquiring Apartment Income REIT in a deal expected to be completed soon, pending final closing conditions. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index Name Action Company Name ...

Ryan Specialty Holdings, Inc. (NYSE:RYAN) Q1 2024 Earnings Conference Call May 2, 2024 5:00 PM ET Company Participants Pat Ryan - Founder, Chairman & Chief Executive Officer Tim Turner - President Jeremiah Bickham - Chief Financial Officer Miles Wuller - Chief Executive Officer, RSG Underwriting Managers Conference Call Participants Elyse Greenspan - Wells Fargo Mike Zaremski - BMO Capital Markets Rob Cox - Goldman Sachs Meyer Shields - KBW Alison Jacobowitz - UBS. Operator Good afternoon and thank you for ...