ROLLING MEADOWS, Ill. (AP) _ Arthur J. Gallagher & Co. (AJG) on Thursday reported first-quarter earnings of $346.3 million.

On a per-share basis, the Rolling Meadows, Illinois-based company said it had net income of $1.79. Earnings, adjusted for non-recurring costs, were $1.83 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.74 per share.

The insurance and risk-management company posted revenue of $1.87 billion in the period. Its adjusted revenue was $1.83 billion.

Arthur J. Gallagher shares have dropped 17% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $78.75, a decrease of 5% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AJG at https://www.zacks.com/ap/AJG

Automated Insights, source Associated Press News