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Arthur J. Gallagher & Co. (AJG) Discusses Strategic Pillars, Growth Drivers and Financial Outlook Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Arthur J. Gallagher & Co. (AJG) Discusses Strategic Pillars, Growth Drivers and Financial Outlook June 17, 2026 9:00 AM EDT

Company Participants

J. Gallagher – Chairman & CEO
Michael Pesch – Chief Executive Officer of Global Brokerage of Americas
Patrick Gallagher – Executive VP & COO
Thomas Gallagher – President
William Ziebell – Chief Executive Officer of Employee Benefits Consulting & Brokerage
Scott Hudson – President & CEO of Risk Management Services
Douglas Howell – Corporate VP & CFO
Sara Walsh

Conference Call Participants

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Elyse Greenspan – Wells Fargo Securities, LLC, Research Division
Tracy Benguigui – Wolfe Research, LLC
Michael Zaremski – BMO Capital Markets Equity Research
David Motemaden – Evercore ISI Institutional Equities, Research Division
Katie Sakys – Autonomous Research US LP
Yaron Kinar – Mizuho Securities USA LLC, Research Division
Mark Hughes – Truist Securities, Inc., Research Division
Meyer Shields – Keefe, Bruyette, & Woods, Inc., Research Division
Robert Cox – Goldman Sachs Group, Inc., Research Division

Presentation

Operator

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Good morning, and welcome to Arthur J. Gallagher & Company’s quarterly investor meeting with management. [Operator Instructions] Today’s call is being recorded. If you have any objections, you may disconnect at this time. Some of the comments made during this investor meeting, including answers given in response to questions, may constitute forward-looking statements within the meaning of the securities laws. The company undertakes no obligation to update these statements.

These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially. Please refer to the information concerning forward-looking statements and Risk Factors sections contained in the company’s most recent earnings release and Form 10-K and 10-Q filings for more details on such risks and uncertainties.

In addition, for reconciliations of the non-GAAP measures discussed during this meeting, please refer to our most recent earnings press release and other materials in the Investor Relations section of the company’s website.

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The budget carrier launched its first flights from the South West city in 1998

A Ryanair passenger plane

A Ryanair passenger plane(Image: Peter Byrne/PA Wire)

Budget carrier Ryanair says it has reached a “significant milestone” after carrying more than 30 million passengers through Bristol Airport.

The airline launched its first flights from the city in 1998, later opening a base at the South West transport hub.

Ryanair now has five B737 aircraft based at Bristol, which it says represents a $500m investment and supports more than 1,400 local jobs.

This summer, Ryanair is operating its biggest ever schedule from Bristol, with more than 330 weekly flights across 36 routes, including a new route to Bari in Italy.

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It also flies to other sun hotspots from Bristol Airport including Malaga, Tenerife and Venice, as well as cities such as Budapest, Krakow and Madrid.

Jade Kirwan of Ryanair said: “This significant milestone showcases Ryanair’s continued investment and growth in the region – including our 5 aircraft base – delivering important low-fare connectivity, traffic, tourism, jobs, and economic growth.”

Bristol Airport’s chief executive, Dave Lees, who announced in April that he was stepping down, said: “30 million Ryanair passengers travelling through Bristol Airport is a brilliant milestone and testament to our long-standing partnership of more than 25 years, offering routes that people in the South West and Wales enjoy travelling too as well connecting many families and friends in Ireland, with relatives in the region.”

Last month, Ryanair said it was better placed to ride out the looming jet fuel crisis than its European rivals.

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The Dublin-based company revealed that 80 per cent of its jet fuel requirements for the year ahead are locked in at $67 per barrel, while current market prices continue to fluctuate – often above the $100 mark.

The blockage of the Strait of Hormuz amid the Iran conflict has pushed global jet fuel shipments to their lowest level on record, potentially forcing the cancellation of thousands of summer flights.

But Ryanair has maintained that Europe “remains well supplied” via routes through West Africa, the Americas and Norway. Despite this boss Michael O’Leary has admitted the situation has “created economic uncertainty”.

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