Brown & Brown Q1 Profit Increases

(RTTNews) - Brown & Brown Inc. (BRO) reported that its net income for the first quarter of 2021 was $199.7 million, an increase of $47.3 million or 31.0% from the prior year. Net income per share were $0.70 up from $0.54 last year.

Revenues for the first quarter of 2021 were $815.3 million, increasing $116.8 million, or 16.7%, compared to the first quarter of the prior year, with commissions and fees increasing by 16.9% and Organic revenue increasing by 9.8%.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.58 per share and revenues of $755.81 million for the first-quarter. Analysts' estimates typically exclude special items.

In addition, the company declared a regular quarterly cash dividend of $0.0925 per share. The dividend is payable on May 19, 2021 to shareholders of record on May 10, 2021.