Filing Flows › Ryan Specialty Holdings (RYAN) › Q3 2026
Ryan Specialty Holdings (RYAN) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 30, 2026
Ryan Specialty Holdings (RYAN) reported revenue of $790M for the third quarter 2026 (Q3 2026), +5% from a year earlier and -14% from the quarter before. Operating margin was 17.8%, net earnings $36.7M (4.6% of revenue).
Ryan Specialty Holdings, Q3 2026: revenue $790M (+5% year over year), operating margin 17.8%, net earnings $36.7M, operating cash flow $181M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $790M | -14% | +5% |
| Operating profit | $141M | -22% | +27% |
| Net earnings | $36.7M | -13% | +18% |
| Operating cash flow | $181M | -38% | +7% |
| Free cash flow | $160M | -42% | +3% |
What changed
Revenue was $790.0M in Q3 2026, up 5% year over year and down 14% from the previous quarter. Wholesale Brokerage was the largest line at 50% of revenue. Wholesale Brokerage added $17.5M year over year (up 5%), 49% of the total change.
Operating profit was $140.8M, a 17.8% margin (up 3.1 points year over year). Of the extra revenue versus Q3 2025, 85% reached operating profit, above the 15% margin then. Total costs grew 1% against revenue growth of 5%. Net earnings were $36.7M, up 18% year over year. The effective tax rate was 8.5%.
Operating cash flow was $181.3M (up 7% year over year), 206% of net income including minority interests. Non-cash charges added back $4.3M of depreciation and $13.2M of share-based compensation. Working capital and other items added $75.7M. Capital expenditures of $21.8M left free cash flow of $159.5M.
Questions
What was Ryan Specialty Holdings' revenue in the third quarter 2026?
Ryan Specialty Holdings (RYAN) reported revenue of $790M for the third quarter 2026 (Q3 2026), +5% from a year earlier and -14% from the quarter before.
Was Ryan Specialty Holdings profitable in the third quarter 2026?
Operating profit was $141M (17.8% of revenue) and net earnings $36.7M.