Today's Viewpoint: A MarshBerry Publication


Ryan Specialty reported second quarter 2022 total revenue of $491.3 million, an increase of 26% year-over-year (YoY). Read the five things you should know about this earnings call.


Ryan Specialty (NYSE: RYAN) reported second quarter 2022 total revenue of $491.3 million, an increase of 26% year-over-year (YoY) with adjusted net income growing 15.4% YoY to $106.4 million. Adjusted diluted Earnings Per Share (EPS) for 2Q22 was $0.39. 

Here are five things you should know about this earnings call: 

  1. RYAN reported organic revenue growth rate of 22.3% for the quarter, down from 28.5% for the same quarter last year. 2Q22 organic growth was  driven by new client wins and expanded relationships with existing clients, continued expansion of the E&S (Excess & Surplus) market, and revenue from acquisitions completed in 4Q21.
  1. Adjusted EBITDAC increased 18.2% YoY to $166.1 million*. The adjusted EBITDAC margin of 33.8% decreased compared to 36.0% in the prior-year period. This was affected by an increase of total operating expenses to $385.8 million, a 29.6% increase YoY, largely from an increase in compensation and benefits expense and general and administrative expenses, including continued normalization of business travel and client entertainment.
  2. RYAN is raising its full year 2022 outlook for both organic revenue growth rate and adjusted EBITDAC margin. Organic revenue growth rate guidance range for  2022 is now 16.5% – 18.0%, compared to the prior guidance range of 13.5% – 15.5%. Similarly, adjusted EBITDAC margin guidance range increased for 2022 to 29.0% – 30.0%, compared to the prior guidance range of 28.5% – 30.0%.
  3. CEO, Patrick Ryan relayed an optimistic future noting, “Throughout the second quarter, the E&S marketplace remained robust. In fact, the overall flow of business into our E&S lines is still at historically high levels. As we previously noted, we’ve invested significantly in those lines, or we see clear opportunities to grow in addition to bolstering the lines of business where we have a leadership position.”
  4. Investments in intellectual capital remain important, as RYAN continues to recruit exceptional talent and invest in their teammates.  They added accomplished teammates within the renewable energy line and to the data and analytics and technology teams. Productivity  continues to improve and accelerate, reflected in the strong 2Q22 performance.

To learn more visit: News Release – RYAN SPECIALTY REPORTS SECOND QUARTER 2022 RESULTS

*RYAN defines Adjusted EBITDAC as: Net income before interest expense, net, income tax expense, depreciation, amortization, and change in contingent consideration, adjusted to reflect items such as (i) equity-based compensation, (ii) acquisition-related expenses, and (iii) other exceptional or non-recurring items, as applicable.  

Investment banking services offered through MarshBerry Capital, LLC, Member FINRA and SIPC, and an affiliate of Marsh, Berry & Company, LLC, 28601 Chagrin Blvd, Suite 400, Woodmere, OH 44122 (440) 354-3230 

This earnings summary has been prepared by Marsh, Berry & Co., LLC. and is not intended to provide investment recommendations on any company. It is not a research report, as such term is defined by applicable laws and regulations, and it does not contain sufficient information upon which to make an investment decision. It is not to be construed as an offer to buy or sell or a solicitation of an offer to buy or sell any securities, financial instruments or to participate in any particular trading strategy. These materials are based solely on information contained in publicly available documents and Marsh, Berry & Co., LLC has not independently attempted to investigate or to verify such information. 

Contact MarshBerry
If you have questions about Today's ViewPoint, or would like to learn more about how MarshBerry can help your firm determine its path forward, please email or call MarshBerry at 440.354.3230.

MarshBerry continues to be the #1 sell side advisor in the industry (as ranked by S&P Global). If you’re considering selling your firm, we are the best choice to help you through the complicated process. If you don’t hire MarshBerry, hire a reputable advisor that can help you navigate one of the most important business decisions you will ever make. You will be much better off having an advisor in your corner that knows the industry than trying to do this on your own.