Brown & Brown Q1 Profit Declines - Quick Facts

(RTTNews) - Brown & Brown Inc. (BRO) Monday reported first-quarter profit of $52.4 million or $0.36 per share, lower than the $60.1 million or $0.41 per share in the same period last year.

Pro Forma Adjusted Earnings Per Share rose 11.1% to $0.40 from $0.36 in the prior year quarter.

On average, 17 analysts expected the company to earn $0.42 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased 8.5 percent to $363.6 million from $335.0 million last year. Analysts expected revenues of $371.43 million.

Organic Revenues grew by 3.9% after adjusting for Colonial Claims' revenue related to Hurricane Sandy in the first quarter of 2013, among other items.

Total expenses for the quarter increased to $276.8 million from the prior year's $235.5 million.