DAYTONA BEACH, Fla. (AP) _ Brown & Brown Inc. (BRO) on Monday reported first-quarter earnings of $113.9 million.
The Daytona Beach, Florida-based company said it had net income of 40 cents per share. Earnings, adjusted for non-recurring costs, were 41 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The insurance company posted revenue of $619.3 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $596.7 million.
Brown & Brown shares have increased 11 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $30.55, a climb of 17 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BRO at https://www.zacks.com/ap/BRO