Stock Track | Ryan Specialty Group Plunges After Q3 Earnings Despite Strong Growth

Stock Track

Oct 31, 2024

Shares of Ryan Specialty Group Holdings, Inc. (RYAN) plunged more than 5% in pre-market trading on Wednesday, despite the company reporting robust financial results for the third quarter of 2024.

The specialty insurance firm reported a 20.5% increase in total revenue to $605 million, driven by organic growth of 11.8%. Adjusted EBITDA surged 29.4% to $190 million, with the adjusted EBITDA margin expanding by 220 basis points to 31.5%. Adjusted diluted earnings per share grew 28% to $0.41, slightly missing analyst estimates of $0.42.

While RYAN's overall performance was strong, the pre-market sell-off appears to be driven by concerns over potential headwinds in the property and casualty insurance markets. During the earnings call, RYAN acknowledged facing short-term headwinds due to property rate deterioration, which accelerated in September. Additionally, the company cited heightened uncertainty in the casualty classes, driven by social inflation and litigation finance.

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(RYAN) plunged more than 5% in pre-market trading on Wednesday, despite the company reporting robust financial results for the third quarter of 2024.</p>\n\n<p>The specialty insurance firm reported a 20.5% increase in total revenue to $605 million, driven by organic growth of 11.8%. Adjusted EBITDA surged 29.4% to $190 million, with the adjusted EBITDA margin expanding by 220 basis points to 31.5%. Adjusted diluted earnings per share grew 28% to $0.41, slightly missing analyst estimates of $0.42.</p>\n\n<p>While RYAN's overall performance was strong, the pre-market sell-off appears to be driven by concerns over potential headwinds in the property and casualty insurance markets. During the earnings call, RYAN acknowledged facing short-term headwinds due to property rate deterioration, which accelerated in September. Additionally, the company cited heightened uncertainty in the casualty classes, driven by social inflation and litigation finance.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RYAN","symbol_name":"Ryan Specialty Group Holdings, Inc.","start_time":0,"source_url":"","article_id":"1122623624","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1122623624","pubTimestamp":1730381442,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Ryan Specialty Group Holdings, Inc.  plunged more than 5% in pre-market trading on Wednesday, despite the company reporting robust financial results for the third quarter of 2024.The specialty insurance firm reported a 20.5% increase in total revenue to $605 million, driven by organic growth of 11.8%. 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