ROLLING MEADOWS, Ill. (AP) — ROLLING MEADOWS, Ill. (AP) — Arthur J. Gallagher & Co. (AJG) on Thursday reported third-quarter profit of $272.7 million.
The Rolling Meadows, Illinois-based company said it had profit of $1.04 per share. Earnings, adjusted for non-recurring costs, came to $2.32 per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.51 per share.
The insurance and risk-management company posted revenue of $3.37 billion in the period. Its adjusted revenue was $3.33 billion, also missing Street forecasts. Three analysts surveyed by Zacks expected $3.45 billion.
Arthur J. Gallagher shares have dropped nearly 8% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $261.69, a decline of 8% 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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