Ryan Specialty Holdings, Inc. reported third‑quarter 2025 financial results for the quarter ended September 30, 2025, with revenue of $754.6 million, a 24.8% year‑over‑year increase.
Net income rose 118.6% to $57.3 million, driven by new client acquisitions, expanded existing relationships, and contributions from recent M&A transactions, including the acquisition of JM Wilson and the agreement to acquire Stewart Specialty Risk Underwriting.
Diluted earnings per share were $0.20 and adjusted diluted EPS was $0.47. Organic revenue growth was 15.0%, while adjusted EBITDAC margin contracted slightly to 31.2% from 31.5% in the prior year due to higher compensation, benefits, and general and administrative expenses.
The company updated its full‑year 2025 guidance, projecting double‑digit organic revenue growth and an adjusted EBITDAC margin that will be flat to modestly down compared to the prior year. It deferred its 35% adjusted EBITDA margin target beyond 2027 to support talent and technology investments.
Ryan Specialty returned $22.1 million to shareholders and LLC unit holders through dividends and distributions, declaring a quarterly dividend of $0.12 per share payable on November 25, 2025.
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