ROLLING MEADOWS, Ill. (AP) — ROLLING MEADOWS, Ill. (AP) — Arthur J. Gallagher & Co. (AJG) on Thursday reported first-quarter net income of $822 million.
The Rolling Meadows, Illinois-based company said it had net income of $3.16 per share. Earnings, adjusted for non-recurring costs, were $4.47 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $4.40 per share.
The insurance and risk-management company posted revenue of $4.76 billion in the period. Its adjusted revenue was $4.72 billion, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $4.65 billion.
Arthur J. Gallagher shares have declined 20% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $206.40, a decline of 36% 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