Ryan Specialty Holdings, Inc. (NYSE:RYAN) Q2 2023 Earnings Conference Call August 3, 2023 5:00 PM ET
Company Participants
Patrick Ryan - Chairman & CEO
Timothy Turner - President & Director
Jeremiah Bickham - EVP & CFO
Miles Wuller - CEO & President, RSG Underwriting Managers
Conference Call Participants
Elyse Greenspan - Wells Fargo Securities
Weston Bloomer - UBS
Michael Ward - Citigroup
Michael Zaremski - BMO Capital Markets
Tracy Benguigui - Barclays Bank
Robert Cox - Goldman Sachs Group
Meyer Shields - KBW
Ryan Tunis - Autonomous Research
Operator
Good afternoon, and thank you for joining us today for Ryan Specialty Holdings' Second Quarter 2023 Earnings Conference Call. In addition to this call, the company filed a press release with the SEC earlier this afternoon, which has also been posted to its website at rryanspecialty.com.
On today's call, management's prepared remarks and answers to your questions may contain forward-looking statements. Investors should not place undue reliance on any forward-looking statement. These statements are based on management's current expectations and beliefs and are subject to risks and uncertainties that could cause actual results to differ materially from those discussed today. Listeners are encouraged to review the more detailed discussion of these risk factors contained in the company's filings with the SEC. The company assumes no duty to update such forward-looking statements in the future, except as required by law.
Additionally, certain non-GAAP financial measures will be discussed on this call and should not be considered in isolation or as a substitute for the financial information presented in accordance with GAAP. Reconciliations of non-GAAP financial measures to the most closely comparable measures prepared in accordance with GAAP are included in the earnings release, which is filed with the SEC and available on the company's website.
With that, I'd now like to turn the call over to the Founder, Chairman and Chief Executive Officer of Ryan Specialty, Pat Ryan.
Patrick Ryan
Good afternoon, and thank you for joining us to discuss our second quarter results. With me on today's call is our President, Tim Turner; our CFO, Jeremiah Bickham; our CEO of Underwriting Managers, Miles Wuller; and Nick Mezick from Investor Relations.
Ryan Specialty had a great quarter with strong momentum continuing across all of our strategic financial and operational objectives. We grew total revenue of 19.1% led by organic growth of 16.1%, building on the 22.3% organic growth in the second quarter of 2022. We also achieved double-digit growth in adjusted EBITDAC and adjusted net income on a year-over-year basis.