ROLLING MEADOWS, Ill. (AP) — ROLLING MEADOWS, Ill. (AP) — Arthur J. Gallagher & Co. (AJG) on Thursday reported fourth-quarter net income of $151 million.

On a per-share basis, the Rolling Meadows, Illinois-based company said it had net income of 58 cents. Earnings, adjusted for non-recurring costs, came to $2.38 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.35 per share.

The insurance and risk-management company posted revenue of $3.63 billion in the period. Its adjusted revenue was $3.59 billion, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $3.58 billion.

For the year, the company reported profit of $1.49 billion, or $5.74 per share. Revenue was reported as $13.78 billion.

Arthur J. Gallagher shares have fallen 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $245.84, a decrease of 16% in the last 12 months.

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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