Brokerage segment revenue growth was 17%, organic growth 5.3%, adjusted EBITDAC margin expanded 334 basis points to 36.4%.
Completed 9 mergers in Q2 representing $290 million of estimated annualized revenue.
For combined Brokerage and Risk Management segments, posted 16% revenue growth, 5.4% organic growth, net earnings margin of 17.3%, adjusted EBITDAC margin of 34.5% up 307 basis points YoY, adjusted EBITDAC growth of 26%.
GAAP earnings per share of $2.11 and adjusted earnings per share of $2.95.
Reinsurance, wholesale and specialty businesses delivered nearly 7% organic growth, including 5% from Gallagher Re and over 7% from wholesale and specialty.
Retail operations delivered 4% organic growth; U.S. organic 5%, international operations around 3%.
Risk Management segment revenue growth was 9%, organic growth 6.2%, adjusted EBITDAC margin was 21%, better than June expectations.
Record Quarterly Results Amidst a Downturn in Housing Market
Compass achieved its strongest quarterly results in history with 10 records, including all-time high revenue, adjusted EBITDA, net income, free cash flow, and market share.
Revenue increased by 21.1% YoY, total transactions up 20.9%, organic transactions up 6.3%, outperforming the market which declined by 0.9%.
Organic growth outpaced the market for 17 consecutive quarters, demonstrating resilience in a challenging housing environment.
Dafinchi