Arthur J Gallagher & Co has posted a 72% increase in its second quarter of 2012 net earnings, which were $71.7m or $0.59 per share, compared to $41.7m or $0.37 per share in the prior year quarter, backed by robust performance of brokerage and risk-management segments.
Its adjusted net income for the quarter period ended on 30 June 2012, was $57m, or $0.47 per share, up by 29% from $44.1m, or $0.39 per share in the comparable quarter last year while revenues grew to $649.9m, with an increase of 19% from $546.1m.
Brokerage segment, revenue rose by 17% and earnings improved by 29%, while risk-management revenue increased 7.4%, and income surged 83%.
Arthur J Gallagher & Co chairman, president and CEO J Patrick Gallagher, Jr said, during the second quarter the firm once again posted strong growth in revenues, its profitability margins improved, while it posted increased earnings per share.
"Our combined Brokerage and Risk Management segments posted 15% growth in adjusted total revenues, 5.9% organic growth in base commission and fee revenues, 20% growth in adjusted EBITDAC and 10% growth in adjusted diluted net earnings per share, and improved adjusted EBITDAC margins by 83 basis points," Gallagher, Jr added.