Arthur J. Gallagher did not provide specific guidance for the upcoming quarter or full yr in the press release
Overview
US insurance brokerage's Q2 revenue was $4.0 bln, a meet versus analyst expectations
Adjusted EPS for Q2 was $2.84
Company repurchased 0.9 mln shares for $170 mln in Q2
Result Drivers
Organic growth - Co said combined Brokerage and Risk Management segments delivered 6% organic revenue growth in Q2
Client demand - Co cited strong client retention, new business generation, and demand for advisory and specialty services as supporting growth
Expense pressure - Higher compensation and operating expense ratios in Brokerage segment were primarily due to lower interest income and increased integration and technology costs
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 21 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the multiline insurance & brokers peer group is "buy"
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