Ryan Specialty (NYSE:RYAN) Announces Quarterly Earnings Results

Key Points

• Ryan Specialty beat Q1 expectations, reporting adjusted EPS of $0.47 versus a $0.43 estimate and revenue of $795.2M (up 15% YoY); adjusted EBITDA rose 15.7% to $232M and the company repurchased $40M of stock.
• Management cut its 2026 outlook to mid‑single‑digit organic growth (~4–6%), now expects Q2 organic growth near zero, and guided to a full‑year adjusted EBITDA margin decline of about 100–150 basis points due to significant property rate declines and intensified competition.
• The firm is accelerating AI and digital transformation with material efficiency gains (e.g., submission turnaround from ~24 hours to under 2 hours and facultative reinsurance reviews from ~2 hours to minutes), while expanding delegated authority and reinsurance—Ryan Re is approaching ~$2 billion in premium and new alternative capital vehicles were launched.

Ryan Specialty (NYSE:RYAN - Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.04, FiscalAI reports. The company had revenue of $795.23 million for the quarter, compared to the consensus estimate of $789.72 million. Ryan Specialty had a net margin of 7.02% and a return on equity of 46.41%. Ryan Specialty's revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS.

Here are the key takeaways from Ryan Specialty's conference call:

• Q1 results were strong — total revenue rose 15% to $795 million, adjusted EBITDA grew 15.7% to $232 million (margin 29.2%), adjusted EPS increased 20% to $0.47, and the company repurchased $40 million of stock.
• Management cut its 2026 outlook to mid-single-digit organic growth (≈4–6%)100–150 basis points driven by significant property rate declines and intensified competition.
• The firm is accelerating its AI and digital transformation, reporting material efficiency gains — e.g., submission turnaround in some workflows fell from ~24 hours to under 2 hours, facultative reinsurance reviews from ~2 hours to minutes, and faster quote speeds across programs.
• Diversification via delegated authority and reinsurance is a growth driver — Ryan Re is approaching ~$2 billion in premium (including the Markel contribution), new alternative capital vehicles like RAC Re were launched, and underwriting management represents an expanding share of revenue.

Ryan Specialty Price Performance

Shares of NYSE:RYAN traded down $0.51 on Thursday, reaching $34.75. 3,664,613 shares of the company traded hands, compared to its average volume of 1,838,004. The stock has a market capitalization of $9.18 billion, a PE ratio of 82.75, a P/E/G ratio of 0.95 and a beta of 0.71. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.98 and a quick ratio of 0.98. The company's 50 day moving average is $36.08 and its 200-day moving average is $46.46. Ryan Specialty has a fifty-two week low of $31.50 and a fifty-two week high of $72.50.

Ryan Specialty Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were issued a $0.13 dividend. This is an increase from Ryan Specialty's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, February 24th. Ryan Specialty's dividend payout ratio is currently 123.81%.

Analysts Set New Price Targets

Several brokerages recently commented on RYAN. BMO Capital Markets cut Ryan Specialty from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $66.00 to $43.00 in a report on Wednesday, February 25th. Zacks Research lowered Ryan Specialty from a "hold" rating to a "strong sell" rating in a research note on Tuesday, February 24th. Keefe, Bruyette & Woods lowered their price target on Ryan Specialty from $55.00 to $49.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 7th. The Goldman Sachs Group dropped their price objective on Ryan Specialty from $57.00 to $49.00 and set a "buy" rating on the stock in a research note on Wednesday, April 8th. Finally, Barclays cut their price objective on Ryan Specialty from $45.00 to $41.00 and set an "overweight" rating for the company in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Ryan Specialty has a consensus rating of "Hold" and a consensus target price of $51.35.

Insider Activity

In related news, Director Patrick G. Ryan, Jr. bought 25,500 shares of the business's stock in a transaction dated Monday, February 23rd. The shares were bought at an average cost of $39.96 per share, with a total value of $1,018,980.00. Following the completion of the transaction, the director directly owned 428,295 shares of the company's stock, valued at approximately $17,114,668.20. This trade represents a 6.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 52.03% of the stock is owned by insiders.

Institutional Trading of Ryan Specialty

Several institutional investors and hedge funds have recently bought and sold shares of RYAN. Public Employees Retirement System of Ohio raised its holdings in shares of Ryan Specialty by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 32,797 shares of the company's stock worth $1,848,000 after acquiring an additional 203 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its position in Ryan Specialty by 7.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 3,313 shares of the company's stock worth $171,000 after purchasing an additional 240 shares during the last quarter. Snowden Capital Advisors LLC raised its stake in shares of Ryan Specialty by 1.3% during the 2nd quarter. Snowden Capital Advisors LLC now owns 21,135 shares of the company's stock worth $1,437,000 after purchasing an additional 264 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Ryan Specialty by 0.8% during the 4th quarter. LPL Financial LLC now owns 40,486 shares of the company's stock valued at $2,090,000 after buying an additional 323 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its holdings in shares of Ryan Specialty by 77.0% during the 4th quarter. GW&K Investment Management LLC now owns 876 shares of the company's stock valued at $45,000 after buying an additional 381 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company's stock.

Ryan Specialty Company Profile

Ryan Specialty Group, Inc NYSE: RYAN is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients' unique needs.

Ryan Specialty's core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.

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