ROLLING MEADOWS, Ill. (AP) — ROLLING MEADOWS, Ill. (AP) — Arthur J. Gallagher & Co. (AJG) on Thursday reported second-quarter profit of $365.8 million.
The Rolling Meadows, Illinois-based company said it had net income of $1.40 per share. Earnings, adjusted for non-recurring costs, were $2.33 per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.36 per share.
The insurance and risk-management company posted revenue of $3.22 billion in the period. Its adjusted revenue was $3.18 billion, beating Street forecasts. Three analysts surveyed by Zacks expected $3.17 billion.
Arthur J. Gallagher shares have increased 1% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $287.31, a climb of slightly more than 1% 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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