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For the quarter ended March 2023, Arthur J. Gallagher (AJG) reported revenue of $2.67 billion, up 11.2% over the same period last year. EPS came in at $3.03, compared to $2.81 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $2.67 billion, representing a surprise of +0.26%. The company delivered an EPS surprise of +1.00%, with the consensus EPS estimate being $3.00.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Arthur J. Gallagher performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Revenue- Fees: $705.70 million compared to the $715.85 million average estimate based on six analysts. The reported number represents a change of +8.4% year over year.

• Revenue- Commissions: $1.75 billion versus the five-analyst average estimate of $1.76 billion. The reported number represents a year-over-year change of +11.6%.

• Revenue Brokerage Segment- Commissions: $1.75 billion versus $1.76 billion estimated by four analysts on average.

• Revenue Risk Management Segment- Revenues before reimbursements: $297.60 million compared to the $283.20 million average estimate based on four analysts.

• Revenue- Supplemental: $81.60 million versus the four-analyst average estimate of $78.79 million.

• Revenue- Contingent revenues: $71.80 million versus the four-analyst average estimate of $76.20 million. The reported number represents a year-over-year change of +0.3%.

• Total revenue- Brokerage: $2.38 billion compared to the $2.36 billion average estimate based on three analysts. The reported number represents a change of +11.9% year over year.

• Revenue Risk Management Segment- Reimbursements: $33.20 million versus $30.87 million estimated by three analysts on average.

• Revenue Brokerage Segment- Supplemental revenues: $81.60 million versus $77.38 million estimated by three analysts on average.

• Revenue Brokerage Segment- Fees: $412.70 million versus $425.91 million estimated by three analysts on average.

• Revenue Risk Management Segment- Fees: $293 million versus the three-analyst average estimate of $283.64 million.

• Revenue Brokerage Segment- Investment income and net gains on divestitures: $61.70 million versus $34.08 million estimated by three analysts on average.