Arthur J. Gallagher & Co. today reported its financial results for the quarter ended March 31, 2012. Revenues rose to $546.8 million, an increase of 22.2% over those of the same quarter in 2011.
“Our positive operating momentum continued in the first quarter of 2012 despite it being seasonally our smallest quarter. Coming off a strong finish in 2011, we are pleased to see another quarter of strong organic growth, improved adjusted EBITDAC margins and improved adjusted diluted net earnings per share,” said J. Patrick Gallagher, Jr., Chairman, President and CEO.
“Our combined Brokerage and Risk Management segments posted 18% growth in adjusted total revenues, 4.6% organic growth in commission, fee and supplemental commission revenues, 23% growth in adjusted EBITDAC and 12% growth in adjusted diluted net earnings per share.”
The Brokerage segment had an excellent quarter. Adjusted total revenues were up 22%, organic commission, fee and supplemental commission revenues grew 3.5%, adjusted EBITDAC was up 27% and adjusted diluted net earnings per share increased 13%. The insurance brokerage completed 12 acquisitions with annualized revenues of $30.6 million. Its Risk Management segment had an outstanding quarter. Adjusted total revenues were up 8%, organic fees were up 7.0%, adjusted EBITDAC was up 15% and adjusted diluted net earnings per share were up 11%.
“We are seeing further evidence of market firming and our customers’ businesses are showing growth. Our sales and support teams are delivering excellent client service; our M&A pipeline is full of outstanding prospects; our operational improvement teams continue to make strides in improving productivity and quality; and our culture is thriving across our global enterprise," said Mr. Gallagher.