RYAN Stock Down Despite Upbeat Quarter

Shares of Ryan Specialty Holdings Inc. (RYAN) are currently trading at $44.47, down 83 cents or 1.84%, with trading volume of over 164K versus an average volume of 621K shares. The stock broke out to a new all-time high of $46.33 on Thursday (August 11, 2022).

Q2 Results

The company reported Q2 net income of $70.1 million, up 10.6%, compared to $63.4 million in the prior-year period. Adjusted net income rose 15.4% to $106.4 million from $92.3 million last year.

On a per share basis, earnings for the second quarter of 2022 was $0.22. Adjusted earnings per share for the second quarter of 2022 was $0.39.

Total revenue for the quarter was $491.3 million, 26.0% higher than the previous year's revenue of $390.0 million.

Analysts polled by Thomson Reuters expected earnings of $0.35 per share on revenue of $460.46 million for the quarter. Analysts' estimate typically exclude certain special items.

FY22 Guidance

The company now expects FY22 organic revenue growth to be in the range of 16.5% - 18.0%, compared to the prior guidance range of 13.5% - 15.5%. Adjusted EBITDAC margin guidance range for the full year 2022 is now 29.0% - 30.0%, versus the previously issued range of 28.5% - 30.0%.

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