Brown & Brown 4Q Revenue Climbs Amid Higher Fees, Commissions

Brown & Brown Inc. on Monday said fourth-quarter revenue rose more than 22% on an increase in commissions and fees.

Source: MarketWatch | Published on January 24, 2023

Brown & Brown revenue

Brown & Brown Inc. on Monday said fourth-quarter revenue rose more than 22% on an increase in commissions and fees.

The insurance brokerage said net income rose to $145.2 million, or 51 cents a share, compared with $101.7 million, or 36 cents a share, a year ago.

Stripping out one-time items, the company’s earnings per share came in at 50 cents. Analysts polled by FactSet had forecast adjusted earnings per share of 46 cents.

Revenue came in at $901.4 million, beating analysts expectations of $898.0 million. Commissions and fees rose by 21%, while organic revenue increased 7.8%.