Insurance brokerage Arthur J Gallagher & Co. (AJG) turned around to a profit in the first quarter and beat earnings and revenue estimates, thanks to growth in its brokerage business. Net earnings were 27 cents per share compared to year-ago loss of 7 cents per share, while earnings from continuing operations rose to 29 cents per share from 18 cents. Analysts were expecting the company to earnings of 14 cents per share. Revenues jumped to $401.1 million from $375.8 million last year and ahead of the consensus estimate of $385.51 million. The company said its efforts to grow through tuck-in acquisitions and cost savings initiatives were beginning paying off. The company also pointed out that insurance rates continue to soften and the economy continues to adversely impact its clients' buying activities.
Asset manager GAMCO Investors, Inc. (GBL) said it expects to earn $0.29 to $0.31 per share for the first quarter. The consensus estimate is 18 cents per share. In the year-ago period, the company earned $0.37 per share.
Psychiatric Solutions Inc (PSYS), an operator of mental health facilities, posted first-quarter net earnings of 49 cents per share, up from year-ago 46 cents per share. Earnings from continuing operations rose 11.1% to 50 cents/share from 45 cents per share last year. Revenue rose 6.3% to $450.4 million from $423.8 million last year. Same-facility revenue or revenues from facilities open for at least a year -- increased 3.4%. The company backed its 2009 profit forecast of $2.24 to $2.32 a share from continuing operations, higher than the consensus estimate of $2.21 a share. The forecast represents growth of 17% to 21% from 2008 levels.
Hawaiian Holdings, Inc. (HA), the parent of Hawaiian Airlines, turned around to a profit in the first quarter and earnings topped estimates by a whopping 30 cents. Earnings were 46 cents per share compared to year-ago loss of 42 cents per share. Analysts were looking for 16 cents per share. Operating revenue rose 14.9% to $288.6 million from $251.2 million last year.
Life Technologies Corp. (LIFE), which makes tools and equipment used in genetic testing and stem cell research, posted first-quarter adjusted earnings that topped estimates by a wide leeway. Adjusted earnings were 72 cents per share, higher than the consensus estimate of $0.57/share. Net earnings declined to 9 cents per share from year-ago 53 cents/share. Life Technologies, which was created by the merger of Invitrogen and Applied Biosystems, still expects low single-digit organic revenue growth for the full year with earnings of $2.40 to $2.55 per share, excluding items. Analysts are looking for $2.52 per share.
Hatteras Financial Corp. (HTS) posted nearly 51% rise in first-quarter earnings per share. Earnings rose to $1.07 per share from year-ago $0.71 per share. Net interest income surged to $41.8 million from $9.7 million last year. The company also declared a common dividend of $1.05/share for the first quarter, which with respect to the Hatteras stock's March 31 closing price of $24.99, translates to an annualized yield of 16.8%. In the year-ago period, the company paid a dividend of 34 cents/share.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.