Ryan Specialty Group Q3 2024 Earnings Report
Key Takeaways
Ryan Specialty Group reported a strong third quarter in 2024, with revenue increasing by 20.5% year-over-year to $604.7 million and organic revenue growth of 11.8%. Net income also saw a significant increase of 82.4% to $28.6 million, with adjusted diluted earnings per share increasing by 28.1% to $0.41. The company's performance was bolstered by solid organic growth, strategic M&A activity, and effective cost management.
Total revenue grew by 20.5% year-over-year, reaching $604.7 million.
Organic revenue growth rate was 11.8% for the quarter.
Net income increased by 82.4% year-over-year to $28.6 million.
Adjusted diluted earnings per share increased by 28.1% to $0.41.
Ryan Specialty Group
Ryan Specialty Group
Ryan Specialty Group Revenue by Segment
Forward Guidance
The Company is maintaining its full year 2024 outlook for Organic Revenue Growth Rate and Adjusted EBITDAC Margin as follows:
Positive Outlook
- Organic Revenue Growth Rate guidance for full year 2024 is between 13.0% – 14.0%
- Adjusted EBITDAC Margin guidance for full year 2024 is between 32.0% – 32.5%