AJG - Arthur J.Gallagher Non-GAAP EPS of $3.03 beats by $0.04 revenue of $2.71B beats by $20M
2023-04-27 16:37:31 ET
- Arthur J.Gallagher press release ( NYSE: AJG ): Q1 Non-GAAP EPS of $3.03 beats by $0.04 .
- Revenue of $2.71B (+11.1% Y/Y) beats by $20M .
- "Our core brokerage and risk management segments combined to post 12% reported revenue growth, 9.7% organic revenue growth, 12% growth in reported net earnings, 15% growth in adjusted EBITDAC, and we improved our adjusted EBITDAC margin 29 basis points. First quarter primary insurance market conditions are overall consistent with 2022 with renewal premiums up more than 9%. The property reinsurance market is very hard and we are seeing tighter terms and conditions across a broader range of territories - even into casualty reinsurance lines. And, we continue to see growth in our customers' exposure units and payrolls. We expect insurance and reinsurance pricing increases to continue throughout 2023 and beyond. Our talented team will leverage our expertise, data and insights to help clients with these challenging insurance market conditions. I believe we are very well positioned for the remainder of 2023!" said J. Patrick Gallagher, Jr., Chairman, President and CEO.
- Shares +1.76% .
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Arthur J.Gallagher Non-GAAP EPS of $3.03 beats by $0.04, revenue of $2.71B beats by $20M