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Investing.com -- Brown & Brown, Inc. (NYSE:BRO) reported third-quarter earnings that surpassed analyst expectations, driving shares up 3.2% in after-hours trading on Monday.
The insurance brokerage firm posted adjusted earnings per share of $1.05 for the third quarter, exceeding the analyst estimate of $0.94. Revenue reached $1.6 billion, above the consensus estimate of $1.55 billion and representing a 35.4% increase compared to the same period last year. Organic revenue, a key industry metric, grew by 3.5% YoY.
The strong quarterly performance comes after Brown & Brown completed a significant acquisition during the quarter, welcoming over 5,000 new employees to the organization. Despite the substantial growth in revenue, income before taxes decreased slightly by 1.9% to $311 million, with the corresponding margin falling to 19.4% from 26.7% in the prior-year period.
"We are very excited to welcome over 5,000 new teammates to our organization in the third quarter," said J. Powell Brown, president and chief executive officer. "We continue to deliver our solutions for our customers locally, but draw upon enhanced global capabilities. We are pleased with our overall growth, profitability and cash flow conversion."
The company’s adjusted EBITDAC (earnings before interest, taxes, depreciation, amortization, and change in acquisition earn-out payables) increased by 41.8% to $587 million, with the adjusted EBITDAC margin improving to 36.6% from 34.9% in the third quarter of 2024.
For the first nine months of 2025, Brown & Brown reported a 4.6% increase in organic revenue and an 18.6% rise in total revenue compared to the same period in 2024.
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