* Q1 EPS $0.28 vs est $0.24
* Revenue up 20 pct
* Shares up 1 pct after the bell
April 22 (Reuters) - U.S. insurance broker Arthur J. Gallagher & Co (AJG.N) reported a quarterly profit above analysts’ expectations, helped by strength in its corporate segment.
The company expects increased M&A deal flow to contribute positively to its results later in 2010 and into 2011.
Net income for the first quarter was $29.2 million, or 28 cents a share, compared with $26.4 million, or 27 cents a share, in the year-ago quarter.
Total revenue for the quarter rose 20 percent to $482.4 million, including corporate segment revenue of $67.5 million.
The corporate segment mainly manages the company’s interests in alternative energy investments.
Analysts on average expected the company to earn 24 cents a share, on revenue of $403.3 million, according to Thomson Reuters I/B/E/S.
The insurance brokerage industry helps commercial clients find insurance coverage for a wide range of risks.
Shares of the Itasca, Illinois-based company were up 28 cents at $26.59 in post-market trade. They closed at $26.31 Thursday on the New York Stock Exchange. (Reporting by Abhinav Sharma in Bangalore; Editing by Anne Pallivathuckal)