Ryan Specialty releases Q1 2023 results
Ryan Specialty Holdings has announced its results for the first quarter ended March 31, 2023.
According to the company the highlights of its first quarter 2023 results include:
- Revenue grew 18.3% year-over-year to $457.6 million, compared to $386.9 million in the prior-year period
- Organic Revenue Growth Rate was 12.9% for the quarter, compared to 20.1% in the prior-year period
- Net Income grew 101.7% year-over-year to $36.5 million, compared to $18.1 million in the prior-year period.
- Adjusted Net Income increased 10.9% to $71.8 million, compared to $64.7 million in the prior-year period
- Adjusted Diluted Earnings per Share increased 8.3% to $0.26, compared to $0.24 in the prior-year period
“The first quarter represents a strong start to the year, generating another quarter of double-digit organic growth in the face of a persistently challenging macro environment and further validating the resilience of our differentiated business model and platform,” said Patrick Ryan, founder, chairman and chief executive of Ryan Specialty.
“Our performance was driven by broad-based growth across the portfolio, led by property where we continue to deliver for our clients in a historically hard market. Looking ahead, I remain confident that 2023 will be another strong year for our firm. We continue to be well positioned to expand our capabilities while generating sustainable and profitable growth for our investors.”
