Brown & Brown: Q3 Earnings Snapshot
DAYTONA BEACH, Fla. (AP) — DAYTONA BEACH, Fla. (AP) — Brown & Brown Inc. (BRO) on Monday reported third-quarter earnings of $175.9 million.
The Daytona Beach, Florida-based company said it had net income of 62 cents per share. Earnings, adjusted for non-recurring costs, came to 71 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The insurance company posted revenue of $1.07 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $1.03 billion.
Brown & Brown shares have climbed 17% since the beginning of the year. In the final minutes of trading on Monday, shares hit $66.78, a rise of 8.5% 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
