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UPDATE 1-Arthur J Gallagher Q4 beats Street view
February 1, 2011 / 10:20 PM / 7 years ago

UPDATE 1-Arthur J Gallagher Q4 beats Street view

* Q4 EPS cont ops $0.43 vs est $0.26

* Q4 commission revenue up 7 pct

Feb 1 (Reuters) - U.S. insurance broker Arthur J. Gallagher & Co (AJG.N) reported a quarterly profit well above analysts’ expectations, helped by higher commission revenue.

Net income for the fourth quarter was $54.7 million, or 51 cents per share, compared with $16.8 million, or 16 cents per share, a year ago. Earnings from continuing operations were 43 cents per share.

Revenue for the quarter rose 6 percent to $459.1 million.

Analysts on average were expecting the company to earn 26 cents per share on revenue of $457.9 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 closed at $29.95 on Monday on the New York Stock Exchange. (Reporting by Sweta Singh in Bangalore; Editing by Joyjeet Das)

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