ROLLING MEADOWS, Ill. (AP) — ROLLING MEADOWS, Ill. (AP) — Arthur J. Gallagher & Co. (AJG) on Thursday reported first-quarter profit of $608.4 million.
On a per-share basis, the Rolling Meadows, Illinois-based company said it had profit of $2.74. Earnings, adjusted for non-recurring costs, were $3.49 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.40 per share.
The insurance and risk-management company posted revenue of $3.26 billion in the period. Its adjusted revenue was $3.22 billion, which also beat Street forecasts. Four analysts surveyed by Zacks expected $3.15 billion.
Arthur J. Gallagher shares have risen slightly more than 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $236.95, a rise of 14% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AJG at https://www.zacks.com/ap/AJG
