First Quarter 2022 Highlights
- Q1 Revenue grew 24.2% year-over-year to $386.9 million, compared to $311.5 million in the prior-year period
- Organic Revenue Growth Rate* was 20.1% for the quarter, compared to 18.4% for the same quarter last year
- Net Income of $18.1 million, compared to Net Loss of $3.8 million in the prior-year period. Diluted Earnings per Share was $0.06
- Adjusted EBITDAC* increased 13.6% to $107.3 million, compared to $94.4 million in the prior-year period
- Adjusted EBITDAC Margin of 27.7%, compared to 30.3% in the prior-year period
- Adjusted Net Income increased 13.3% to $64.7 million, compared to $57.1 million in the prior-year period
- Adjusted Diluted Earnings per Share for the first quarter of 2022 was $0.24
“We had an excellent start to 2022 as we continued to capitalize on opportunities presented by the ongoing expansion of the E&S market. We continue to believe that highlighting our clear value proposition, focusing on client service, and providing innovative solutions is our winning formula for success,” said Patrick G. Ryan, Founder, Chairman and Chief Executive Officer of Ryan Specialty. “We delivered 20% organic growth while maintaining solid margins, continuing to invest in enhancing the Ryan Specialty platform, and making steady progress towards hiring the largest class of brokers in our history. We remain confident that our financial strength, dedicated team, and proven ability to execute enables us to deliver sustainable and profitable growth over the long-term.”