Brown & Brown Inc. (NYSE:BRO) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0%.
Brown & Brown Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 20.59% to $0.41 in the quarter versus EPS of $0.34 in the year-earlier quarter.
Revenue: Rose 10.75% to $335 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Brown & Brown Inc. reported adjusted EPS income of $0.41 per share. By that measure, the company beat the mean analyst estimate of $0.39. It missed the average revenue estimate of $337.38 million.
Quoting Management: J. Powell Brown, President and Chief Executive Officer of the Company, noted, “We are pleased to have surpassed a quarterly milestone of $60 million of quarterly net income, and to have achieved a quarterly internal growth rate of our core commissions and fees revenue of 10.2%.”
Key Stats (on next page)…