Arthur J. Gallagher Reported 2Q Profit of $153.7M

Arthur J. Gallagher & Co. reported second-quarter profit of $153.7 million.

The Rolling Meadows, Ill.-based company said it had net income of 79 cents per share. Earnings, adjusted for non-recurring costs, were 94 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.

The insurance and risk-management company posted revenue of $1.58 billion in the period. Its adjusted revenue was $1.55 billion.

Arthur J. Gallagher shares have increased nearly 10% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $104.57, a climb of 14% in the last 12 months.