Arthur J. Gallagher (AJG) Tops Q4 EPS by 1c, Revenues Miss

Arthur J. Gallagher (NYSE: AJG) reported Q4 EPS of $0.53, $0.01 better than the analyst estimate of $0.52. Revenue for the quarter came in at $1 billion versus the consensus estimate of $1.2 billion.

"We finished 2018 with a fantastic fourth quarter," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "Total company fourth quarter 2018 diluted net earnings per share was $0.63 and total company adjusted diluted net earnings per share was $0.53, up 62% and 15%, respectively.

Our brokerage and risk management segments combined in fourth quarter 2018 to post:

• Total revenue growth of 11.1%, of which 5.8% was organic revenue growth.
• Net earnings growth of 47%, EBITDAC growth of 18% and adjusted EBITDAC growth of 15%.
• We improved net earnings margin by 212 basis points and adjusted EBITDAC margin by 45 basis points.
• We completed 19 tuck-in acquisitions with estimated annualized revenues of $90 million.

Additionally, we have a very strong pipeline of tuck-in acquisitions globally. Thus far in January we have already announced seven acquisitions for approximately $130 million of annualized revenue. Most importantly, our unique client sales and service culture is stronger than ever across the world."

For earnings history and earnings-related data on Arthur J. Gallagher (AJG) click here.

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