Overview
Brown & Brown Q3 revenue grows 35.4% yr/yr, beating analyst expectations
Adjusted EPS for Q3 beats consensus, rising 15.4% yr/yr
Company welcomes over 5,000 new employees in Q3
Outlook
Company did not provide specific guidance for future quarters or full year in its press release
Result Drivers
COMMISSIONS AND FEES - Revenue growth driven by a 34.2% increase in commissions and fees
ORGANIC REVENUE - Organic revenue grew by 3.5%, contributing to overall revenue increase
NEW EMPLOYEES - Over 5,000 new employees joined, enhancing global capabilities
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$1.61 bln
$1.52 bln (9 Analysts)
Q3 Adjusted EPS
Beat
$1.05
$0.93 (12 Analysts)
Q3 EPS
$0.68
Q3 Organic Revenue Growth
3.5%
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the multiline insurance & brokers peer group is "buy."
Wall Street's median 12-month price target for Brown & Brown Inc is $106.00, about 17.2% above its October 27 closing price of $87.76
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 25 three months ago
Press Release: ID:nGNX4ZyGSW
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)