Arthur J Gallagher & Co. Q1 Profit Increases, beats estimates

(RTTNews) - Arthur J Gallagher & Co. (AJG) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $514.5 million, or $2.37 per share. This compares with $463.6 million, or $2.17 per share, in last year's first quarter.

Excluding items, Arthur J Gallagher & Co. reported adjusted earnings of $680.5 million or $3.14 per share for the period.

Analysts on average had expected the company to earn $2.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.3% to $2.38 billion from $2.12 billion last year.

Arthur J Gallagher & Co. earnings at a glance (GAAP) :

-Earnings (Q1): $514.5 Mln. vs. $463.6 Mln. last year. -EPS (Q1): $2.37 vs. $2.17 last year. -Analyst Estimate: $2.99 -Revenue (Q1): $2.38 Bln vs. $2.12 Bln last year.