Brown & Brown: 2Q Earnings Snapshot
DAYTONA BEACH, Fla. (AP) _ Brown & Brown Inc. (BRO) on Monday reported second-quarter net income of $92.6 million.
The Daytona Beach, Florida-based company said it had net income of 33 cents per share. Earnings, adjusted for gains related to mergers and acquisitions, were 32 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The insurance company posted revenue of $575.2 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $556.6 million.
Brown & Brown shares have climbed 26% since the beginning of the year. In the final minutes of trading on Monday, shares hit $34.65, an increase of 17% in the last 12 months.