AJG · 10-Q · 2026Q2 · Full report

Guidance / Outlook

Arthur J. Gallagher & Co. · 2026-08-05 · Importance 58 · Surprise 42

Management states that Gallagher has sufficient capital and access to additional capital to meet its short- and long-term cash flow needs. The company expects to fund remaining 2026 acquisitions through cash on hand, new debt, its Credit Agreement, operating cash flow and common stock. It also expects approximately $227 million of 2026 capital improvement expenditures and approximately $718 million of annualized dividend-related financing cash use. The risk management segment anticipates an adjusted effective income tax rate of approximately 25.0% to 27.0% in future periods.

Key facts

• We expect to use cash on hand, new debt, our Credit Agreement, cash from operations and our common stock, or a combination thereof to fund all of the acquisitions we complete for the remainder of 2026. source
• If liquidity concerns arise, we may be more likely to issue common stock to fund acquisitions. source
• We believe that our cash flows from operations and borrowings under our Credit Agreement will provide us with adequate resources to meet our liquidity needs in the foreseeable future. source
• We believe that we have sufficient capital and access to additional capital to meet our short- and long-term cash flow needs. source