Welcome to our dedicated page for Brown & Brown news (Ticker: BRO), a resource for investors and traders seeking the latest updates and insights on Brown & Brown stock.
Brown & Brown, Inc. reports developments from a diversified insurance agency, wholesale brokerage and insurance programs organization serving commercial, public-sector, professional and individual customers. Recurring updates cover Retail and Specialty Distribution activity, organic revenue trends, adjusted earnings measures, Organic Revenue with Contingents, dividends and share repurchase actions.
Company announcements also include acquisition activity within insurance distribution and dealer services, including asset purchases that expand product channels for vehicle, recreational vehicle, boat and motorcycle dealerships. Governance and operating updates address legal, compliance, enterprise risk management, technology, data and artificial intelligence initiatives across the organization.
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Brown & Brown, Inc. (NYSE: BRO) reported its Q1 2023 financial results, showing revenues of $1,116.0 million, a 23.4% increase year-over-year. Commissions and fees rose by 22.5%, while organic revenue increased by 12.6%. Net income reached $235.5 million, reflecting a 6.9% growth, and diluted earnings per share (EPS) was $0.83, up 7.8%. However, the income before income taxes margin dropped to 26.4% from 29.3%. The company declared a quarterly dividend of $0.1150 per share, payable on May 17, 2023, to shareholders of record on May 8, 2023. CEO J. Powell Brown highlighted the strong performance and profitable growth.