Brown & Brown: Fourth Quarter Earnings Overview

Brown & Brown Inc. Announces Fourth-Quarter Financial Results

Brown & Brown Inc., headquartered in Daytona Beach, Florida, revealed on Monday that it achieved a net income of $264 million for the fourth quarter.

The company reported earnings of $0.59 per share for the quarter. After adjusting for one-time expenses, adjusted earnings reached $0.93 per share.

These adjusted earnings surpassed the consensus forecast from Wall Street, where analysts polled by Zacks Investment Research had anticipated $0.91 per share.

Quarterly revenue came in at $1.61 billion, falling short of analysts’ expectations, which averaged $1.64 billion according to Zacks’ survey of six analysts.

For the entire fiscal year, Brown & Brown posted a net profit of $1.05 billion, or $3.16 per share, with total revenue amounting to $5.9 billion.

Since the start of the year, the company’s stock price has experienced a modest decline. As of the close of trading on Monday, shares were priced at $79.62, reflecting a 25% decrease over the past year.