Brown & Brown Q4 Profit Rises

Brown & Brown Inc. (BRO) reported that its fourth quarter net income rose to $145.2 million or $0.51 per share from $101.7 million or $0.36 per share in the same quarter last year.

Adjusted income per share was $0.50, up from $0.39 in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.46 per share for the fourth quarter. Analysts' estimates typically exclude special items.

Revenues for the fourth quarter were $901.4 million, an increase of 22.1% from the prior year, with commissions and fees increasing by 21.3% and Organic Revenue increasing by 7.8%. Analysts expected revenue of $897.07 million for the quarter.

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