Arthur J. Gallagher & Co. today reported its financial results for the quarter and nine-month period ended September 30, 2010. Third-quarter net earnings increased to $46.2 million or $0.44 per share, from $41.6 million or $0.41 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.42 per share.
Revenues for the quarter rose to $463.2 million, from $439.5 million in the prior year quarter. Eight analysts had consensus revenue estimate of $451.21 million for the quarter.
“We are encouraged by our results and accomplishments this quarter,” said J. Patrick Gallagher Jr., Chairman, President and CEO. “Posting slightly positive organic growth in our Brokerage Segment in this rate and economic environment is a testament to our sales culture. In Risk Management, the team did an excellent job of closing the GAB Robins transaction
and we are actively welcoming over 400 employees and over 200 clients to Gallagher Bassett. Throughout the company, we continue to build tremendous resources that provide great service to our clients.”