Brown & Brown ( (BRO) ) has released its Q4 earnings. Here is a breakdown of the information Brown & Brown presented to its investors.
Brown & Brown, Inc. is a leading insurance brokerage firm that provides risk management solutions to individuals and businesses worldwide. The company, headquartered in Daytona Beach, Florida, has over 17,000 employees across 500+ locations.
In its fourth-quarter 2024 earnings report, Brown & Brown announced a significant year-over-year revenue increase, reaching $1.2 billion, which represents a 15.4% growth compared to the previous year. The company also reported an Organic Revenue growth of 13.8% and a diluted net income per share of $0.73, alongside an adjusted figure of $0.86.
Key financial highlights from the report include a 22.6% increase in EBITDAC – Adjusted, amounting to $390 million, while the EBITDAC Margin – Adjusted improved to 32.9%. Despite these positive indicators, income before income taxes decreased by 22.8%, attributed to a gain on the disposal of certain businesses in the prior year. For the full year, the company achieved $4.8 billion in revenues, with a 12.9% growth and a net income rise of 14%.
Looking ahead, Brown & Brown’s management remains optimistic about the company’s growth prospects, emphasizing the strong Organic Revenue growth and the dedication of its workforce as key drivers for continued success. The company is well-positioned to maintain its momentum in delivering innovative risk management solutions in the insurance sector.