ROLLING MEADOWS, Ill. (AP) — ROLLING MEADOWS, Ill. (AP) — Arthur J. Gallagher & Co. (AJG) on Thursday reported fourth-quarter net income of $258.2 million, after reporting a loss in the same period a year earlier.
The Rolling Meadows, Illinois-based company said it had net income of $1.12 per share. Earnings, adjusted for non-recurring costs, came to $2.13 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.02 per share.
The insurance and risk-management company posted revenue of $2.68 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $2.67 billion.
For the year, the company reported profit of $1.47 billion, or $6.50 per share. Revenue was reported as $11.35 billion.
Arthur J. Gallagher shares have climbed slightly more than 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $299.03, a rise of 30% 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
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