Fri, Jul 26, 8:45 PM (43 days ago)
Arthur J. Gallagher & Co. reported strong financial performance for the quarter ended June 30, 2024. Key highlights include a 14% increase in brokerage segment revenues to $2,376.3 million and a 13% rise in risk management segment revenues before reimbursements to $358.6 million. Organic revenue growth was 7.7% for both segments. Adjusted EBITDAC for the brokerage segment grew 18% to $784.8 million, with an adjusted EBITDAC margin of 33.1%, up by 97 basis points. The risk management segment also saw a 20% increase in adjusted EBITDAC to $73.9 million, achieving a 20.6% margin, up by 123 basis points. Diluted net earnings per share increased by 18% to $1.26, with adjusted EPS up 20% to $2.26. The company’s effective tax rate was around 25% for both segments. The brokerage segment’s compensation and operating expense ratios remained stable, while the risk management segment saw slight improvements. The company completed 24 acquisitions in the first half of 2024, contributing to revenue growth. Overall, Arthur J. Gallagher & Co. demonstrated robust financial health and operational efficiency, with positive trends in revenue and earnings growth.