Florida-Based Brown & Brown Reports Stronger Profits for 2024

January 30, 2025 by and

DAYTONA BEACH, Fla. (AP) — Brown & Brown Inc. (BRO) on Monday reported fourth-quarter net income of $210 million, down from 2023’s Q4 results, but year-end results for 2024 were well above 2023’s numbers.

On a per-share basis, the Daytona Beach, Florida-based insurance brokerage said it had net income of 73 cents in Q4. Earnings, adjusted for one-time gains and costs, came to 86 cents per share.

The quarterly results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.

The company, which said it has more than 500 offices around the country, posted revenue of $1.18 billion in the quarter, which also topped Street forecasts. Six analysts surveyed by Zacks expected $1.11 billion.

For the year, the company reported profit of $993 million, up from $871 million for 2023, the company reported. Revenue was reported as $4.81 billion.

Brown & Brown shares have risen almost 6% since the beginning of the year. In the final minutes of trading on Monday, shares hit $107.84, a rise of 40% in the last 12 months.

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