Brown & Brown Q3 Profit Increases

(RTTNews) - Brown & Brown Inc. (BRO) reported that its net income for the third quarter of 2021 was $146.4 million, an increase of $12.4 million, or 9.3% from the prior year. Net income per share increased to $0.52 from $0.47 last year.

Adjusted net income per share increased to $0.58, or 11.5%, compared to the third quarter of the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.53 per share. Analysts' estimates typically exclude special items.

Revenues for the third quarter of 2021 were $770.3 million, increasing $96.3 million, or 14.3%, compared to the third quarter of the prior year, with commissions and fees increasing by 14.6% and organic revenue increasing by 8.5%. Analysts expected revenue of $761.47 million for the quarter.