Arthur J. Gallagher (NYSE: AJG) reported Q2 EPS of $0.76, $0.27 worse than the analyst estimate of $1.03. Revenue for the quarter came in at $998.1 billion versus the consensus estimate of $1.53 billion.

"We delivered another excellent quarter of operating performance and are optimistic about the remainder of the year. During the second quarter, we posted outstanding organic revenue growth, completed 9 tuck-in brokerage mergers, expanded margins and grew earnings per share," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "Our first half renewals, as well as our mid-year internal insurance rate survey, suggest P&C pricing is mostly stable. Almost two thirds of our survey respondents expect no significant change in the 2017 pricing environment. This continues to be an environment in which our talented production team will outperform."

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