Arthur J Gallagher & Co. Q3 Profit Increases, But Misses Estimates

(RTTNews) - Arthur J Gallagher & Co. (AJG) released a profit for its third quarter that increased from the same period last year but missed the Street estimates.

The company's bottom line came in at $314.1 million, or $1.39 per share. This compares with $283.2 million, or $1.28 per share, in last year's third quarter.

Excluding items, Arthur J Gallagher & Co. reported adjusted earnings of $506.3 million or $2.26 per share for the period.

Analysts on average had expected the company to earn $2.27 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.1% to $2.743 billion from $2.468 billion last year.

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

-Earnings (Q3): $314.1 Mln. vs. $283.2 Mln. last year. -EPS (Q3): $1.39 vs. $1.28 last year. -Revenue (Q3): $2.743 Bln vs. $2.468 Bln last year.