Summary
Brown & Brown, Inc. reported strong performance in 2022, with total revenues reaching $3.57 billion, a 17.1% increase compared to the previous year. This growth was primarily driven by acquisitions and a 8.1% organic revenue growth rate, indicating healthy expansion across its core business segments: Retail, National Programs, Wholesale Brokerage, and Services. The company's net income also saw a significant increase, reaching $671.8 million, up 14.4% from 2021. This robust financial performance reflects effective management and strategic execution, including successful integration of acquired businesses and a continued focus on sales and service culture. Brown & Brown's diversification across insurance segments provides resilience, while its commitment to talent development and operational efficiency supports its long-term growth trajectory.
Financial Highlights
27 data points| Revenue | $3.57B |
| Operating Expenses | $2.70B |
| Interest Expense | $141.20M |
| Net Income | $672.00M |
| EPS (Basic) | $2.38 |
| EPS (Diluted) | $2.37 |
| Shares Outstanding (Basic) | 278.00M |
| Shares Outstanding (Diluted) | 279.00M |
Key Highlights
- 1Total revenues grew by 17.1% to $3.57 billion in 2022, driven by acquisitions and organic growth.
- 2Net income increased by 14.4% to $671.8 million in 2022.
- 3The company completed 30 acquisitions in 2022, contributing significantly to revenue growth.
- 4Organic Revenue growth was 8.1% for the full year, demonstrating underlying business strength.
- 5The Retail segment remains the largest contributor to revenue, accounting for 58.4% of total commissions and fees.
- 6EBITDAC - Adjusted, a key non-GAAP measure, increased by 15.9% to $1.17 billion, indicating strong operational profitability.
- 7The company maintained a solid balance sheet with total assets of $13.97 billion as of December 31, 2022, and had $249.6 million remaining under its share repurchase authorization.