Ryan Specialty revenue +7% YoY; operating income -6% as $39M restructuring costs hit Q2

Filed July 31, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 1, 2025 · ~2 min read

Key Changes

• high

  Launched three-year Empower Program restructuring targeting $160M in cumulative charges through 2028 and $80M in annual savings by 2029; incurred $39.3M in costs during H1 2026.

  MD&A: Empower Program verify on EDGAR →
• high

  Board expanded buyback authorization by $300M to $600M total in May 2026; repurchased $300.2M of Class A common stock during H1 2026 (per XBRL cash flow statement).

  MD&A: Share Repurchase Program verify on EDGAR →
• high

  Sold entire 5.2% equity stake in Velocity Specialty Insurance Company (VSIC) for $23.3M on July 10, 2026, approximately 14 months after acquiring the position for $16.6M.

  Notes: Subsequent Events verify on EDGAR →