Earnings reports, explained in plain English

Ares Management grew fee related earnings 20% to $491.1 million and AUM 17.3% to $671.3 billion in Q2 2026, while GAAP EPS rose only to $0.49 as carried interest fell 22.8% on mark-to-market reversals at a real estate secondaries fund and in Kodiak AI shares.

Gallagher's revenue rose 24% to $4.00bn while GAAP EPS fell to $1.25 from $1.40 — a split driven almost entirely by AssuredPartners purchase accounting, integration costs and the loss of $144m of one-off interest income, with underlying brokerage organic growth of 5%.

Assurant posted record Q2 2026 earnings — net income up 27% to $298.6M and diluted EPS up 30% to $5.95 — but the first-half gain is heavily flattered by the absence of the 2025 California wildfires, lower-than-typical claims frequency, and shrinking reserve releases, with Connected Living the one durable growth engine.

ADM's Q2 2026 net earnings quadrupled to $908 million and adjusted EPS nearly doubled to $1.84 as finalized U.S. biofuels mandates reset soybean crush and ethanol margins, prompting a raise in full-year adjusted EPS guidance to $5.15–$5.60.

Arista's first $3 billion quarter: revenue up 37.7% to $3,035.7M, but gross margin fell to 62.9% on large-customer discounting — operating cost leverage still pushed operating margin up to 45.4%.

Arch Capital's Q2 2026 underwriting income fell 19.7% to $657M as insurance-segment catastrophe losses jumped to 7.6 points of the loss ratio and earned premium shrank 8.1%, while a $1.2 billion buyback held diluted EPS at $3.00.