Brown & Brown ( (BRO) ) has realeased its Q3 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, operating in the insurance industry with over 500 locations worldwide.
In its third quarter of 2024 earnings report, Brown & Brown announced a strong performance with total revenues reaching $1.2 billion, marking an 11.0% increase compared to the previous year. The company also reported a significant rise in net income and earnings per share.
Key financial highlights from the report include an increase in income before income taxes by 31.0% to $317 million, and a net income attributable to the company rising by 33.0% to $234 million. The diluted net income per share increased by 30.6% to $0.81, with an adjusted figure of $0.91, up by 12.3%. Organic revenue growth also showed a healthy increase of 9.5%.
Over the nine months ending September 30, 2024, the company saw total revenues of $3.6 billion, a 12.1% increase from the same period in 2023. This growth was accompanied by a 30.0% increase in income before income taxes and a 29.4% rise in diluted net income per share.
Looking ahead, the management of Brown & Brown expressed confidence in maintaining momentum and leveraging their capabilities to drive further growth, reflecting a positive outlook for the company’s future performance.
