Arthur J. Gallagher & Co. Files Q3 2024 10-Q
Ticker: AJG · Form: 10-Q · Filed: Oct 29, 2024 · CIK: 354190
Sentiment: neutral
Topics: 10-Q, quarterly-filing, financials
TL;DR
AJG filed its Q3 10-Q. Financials look solid.
AI Summary
Arthur J. Gallagher & Co. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and operations, including revenue and expenses. The company is based in Rolling Meadows, IL, and its fiscal year ends on December 31.
Why It Matters
This filing provides investors and analysts with the latest financial data for Arthur J. Gallagher & Co., crucial for understanding the company's performance and making investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial information.
Key Numbers
- Q3 2024 — Reporting Period (The company's financial performance for the third quarter of 2024 is detailed.)
- 1231 — Fiscal Year End (Indicates the end of the company's annual financial reporting cycle.)
Key Players & Entities
- Arthur J. Gallagher & Co. (company) — Filer of the 10-Q
- 20240930 (date) — End of the reporting period
- 20241029 (date) — Filing date
- Rolling Meadows, IL (location) — Company headquarters
FAQ
What is the primary business of Arthur J. Gallagher & Co. according to the filing?
The filing lists Arthur J. Gallagher & Co. under the Standard Industrial Classification code 6411, which corresponds to INSURANCE AGENTS BROKERS & SERVICES.
When is the fiscal year end for Arthur J. Gallagher & Co.?
The fiscal year end for Arthur J. Gallagher & Co. is December 31.
What is the filing date of this 10-Q report?
This 10-Q report was filed on October 29, 2024.
What is the reporting period covered by this 10-Q?
The reporting period for this 10-Q is the quarter ending September 30, 2024.
Where is Arthur J. Gallagher & Co. headquartered?
Arthur J. Gallagher & Co. is headquartered at 2850 Golf Road, Rolling Meadows, IL 60008-4050.
Filing Stats: 4,368 words · 17 min read · ~15 pages · Grade level 8.4 · Accepted 2024-10-29 16:46:46
Key Financial Figures
- $1.00 — ch registered Common Stock, par value $1.00 per share AJG New York Stock Exchan
Filing Documents
- ajg-20240930.htm (10-Q) — 6952KB
- ajg-ex31_1.htm (EX-31.1) — 13KB
- ajg-ex31_2.htm (EX-31.2) — 12KB
- ajg-ex32_1.htm (EX-32.1) — 6KB
- ajg-ex32_2.htm (EX-32.2) — 6KB
- 0000950170-24-118320.txt ( ) — 21347KB
- ajg-20240930.xsd (EX-101.SCH) — 1950KB
- ajg-20240930_htm.xml (XML) — 4788KB
Financial Statements (Unaudited)
Financial Statements (Unaudited): Consolidated Statement of Earnings for the Three-Month and Nine-Month Periods Ended September 30, 2024 and 2023 6 Consolidated Statement of Comprehensive Earnings for the Three-Month and Nine-Month Periods Ended September 30, 2024 and 2023 7 Consolidated Balance Sheet at September 30, 2024 and December 31, 2023 8 Consolidated Statement of Cash Flows for the Nine-Month Periods Ended September 30, 2024 and 2023 9 Consolidated Statement of Stockholders' Equity for the Three-Month and Nine-Month Periods Ended September 30, 2024 and 2023 10 - 13 Notes to September 30, 2024 Consolidated Financial Statements 14 - 36 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 37 - 64 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 64 - 65 Item 4.
Controls and Procedures
Controls and Procedures 66 Part II. Other Information Item 1.
Legal Proceedings
Legal Proceedings 66 Item 1A. Risk Factors . 66 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 66 - 67 Item 6. Exhibits 67 Signature 68 - 5 -
- Financi al Information
Part I - Financi al Information
Financial Sta tements (Unaudited)
Item 1. Financial Sta tements (Unaudited) Arthur J. Gallagher & Co. Consolidated State ment of Earnings (Unaudited - in millions, except per share data) Three-month period ended Nine-month period ended September 30, September 30, 2024 2023 2024 2023 Commissions $ 1,537.8 $ 1,381.2 $ 5,193.2 $ 4,539.0 Fees 945.0 846.1 2,723.3 2,342.3 Supplemental revenues 79.1 70.8 261.7 223.6 Contingent revenues 69.3 53.9 215.1 179.9 Interest income, premium finance revenues and other income 135.3 101.6 327.3 248.6 Revenues before reimbursements 2,766.5 2,453.6 8,720.6 7,533.4 Reimbursements 40.3 38.4 118.3 106.6 Total revenues 2,806.8 2,492.0 8,838.9 7,640.0 Compensation 1,621.9 1,424.5 4,967.9 4,253.0 Operating 453.7 423.0 1,315.0 1,239.1 Reimbursements 40.3 38.4 118.3 106.6 Interest 92.9 72.8 279.4 218.5 Depreciation 45.3 43.0 131.5 121.5 Amortization 164.7 128.7 497.8 385.3 Change in estimated acquisition earnout payables ( 15.3 ) ( 2.5 ) ( 12.6 ) 48.7 Total expenses 2,403.5 2,127.9 7,297.3 6,372.7 Earnings before income taxes 403.3 364.1 1,541.6 1,267.3 Provision for income taxes 89.2 80.9 329.4 261.7 Net earnings 314.1 283.2 1,212.2 1,005.6 Net earnings attributable to noncontrolling interests 1.5 2.5 7.8 3.9 Net earnings attributable to controlling interests $ 312.6 $ 280.7 $ 1,204.4 $ 1,001.7 Basic net earnings per share $ 1.43 $ 1.30 $ 5.51 $ 4.67 Diluted net earnings per share 1.39 1.28 5.40 4.58 Dividends declared per common share 0.60 0.55 1.80 1.65 See notes to consolidated financial statements. - 6 - Arthur J. Gallagher & Co. Consolidated Statement o f Comprehensive Earnings (Unaudited - in millions) Three-month period ended Nine-month period ended September 30, Se