Filing Flows › Arthur J. Gallagher (AJG) › Q1 2026
Arthur J. Gallagher (AJG) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Arthur J. Gallagher (AJG) reported revenue of $4.8B for the first quarter 2026 (Q1 2026), +28% from a year earlier and +31% from the quarter before. Operating margin was 21.9%, net earnings $822M (17.3% of revenue).
Arthur J. Gallagher, Q1 2026: revenue $4.8B (+28% year over year), operating margin 21.9%, net earnings $822M, operating cash flow $957M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.8B | +31% | +28% |
| Operating profit | $1.0B | +483% | +19% |
| Net earnings | $822M | +448% | +17% |
| Operating cash flow | $957M | +27% | +10% |
| Free cash flow | $921M | +29% | +9% |
What changed
Revenue was $4.8B in Q1 2026, up 28% year over year and up 31% from the previous quarter.
Operating profit was $1.0B, a 21.9% margin (down 1.5 points year over year). Of the extra revenue versus Q1 2025, 16% reached operating profit, below the 23% margin then. Total costs grew 30% against revenue growth of 28%. Net earnings were $0.82B, up 17% year over year. The effective tax rate was 21.1%.
Operating cash flow was $1.0B (up 10% year over year), 116% of net earnings. Non-cash charges added back $0.34B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.22B. Capital expenditures of $0.04B left free cash flow of $0.92B.
Questions
What was Arthur J. Gallagher's revenue in the first quarter 2026?
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Was Arthur J. Gallagher profitable in the first quarter 2026?
Operating profit was $1.0B (21.9% of revenue) and net earnings $822M.