Florida-Based Brown & Brown Reports Stronger Profits for 2024
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 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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