Insurance specialty broker Ryan Specialty (NYSE: RYAN) will be announcing earnings results this Thursday after market close. Here’s what to expect.
Ryan Specialty beat analysts’ revenue expectations last quarter, reporting revenues of $916.6 million, up 7.2% year on year. It was an incredible quarter for the company, with a solid beat of analysts’ organic revenue estimates and a beat of analysts’ EPS estimates.
Is Ryan Specialty a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Ryan Specialty’s revenue to grow 4.8% year on year, slowing from the 24.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Ryan Specialty rarely misses Wall Street’s revenue estimates.
Looking at Ryan Specialty’s peers in the professional services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Marsh delivered year-on-year revenue growth of 8.1%, beating analysts’ expectations by 3.2%, and Brown & Brown reported revenues up 7.4%, falling short of estimates by 2.1%. Marsh traded up 5.6% following the results while Brown & Brown was down 5.8%.
Read our full analysis of Marsh’s results here and Brown & Brown’s results here.
There has been positive sentiment among investors in the professional services segment, with share prices up 3.7% on average over the last month. Ryan Specialty is up 9.8% during the same time and is heading into earnings with an average analyst price target of $49.09 (compared to the current share price of $41.85).
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