Arthur J. Gallagher & Co. (AJG) on Thursday reported first-quarter profit of $486.5 million.
On a per-share basis, the Rolling Meadows, Illinois-based company said it had net income of $2.24. Earnings, adjusted for non-recurring costs, came to $3.03 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3 per share.
The insurance and risk-management company posted revenue of $2.71 billion in the period. Its adjusted revenue was $2.67 billion, which matched Street forecasts.
Arthur J. Gallagher shares have climbed 11% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $209.05, a climb of 19% in the last 12 months.