BRO 10-Q Quarterly Reports

Brown & Brown, Inc. (BRO) reported a strong second quarter for 2026, demonstrating robust revenue growth and improved profitability. Total revenues increased by 30.4% year-over-year to $1,676 million, driven primarily by a significant 32.4% surge in commissions and fees. This growth was fueled by contributions from recent acquisitions, a notable increase in profit-sharing contingent commissions, and solid performance in both the Retail and Specialty Distribution segments. Net income attributable to the Company rose by 24.7% to $288 million for the quarter, translating to diluted earnings per share of $0.84, up from $0.78 in the prior year. The company also continued its strategic acquisition activities, completing 14 transactions during the first half of the year, while managing its capital effectively through share repurchases and dividend payments. The balance sheet remains strong, with total assets of $29.9 billion and total equity of $12.6 billion, indicating continued financial stability and capacity for future growth.

Brown & Brown, Inc. (BRO) reported a strong first quarter for 2026, demonstrating significant growth driven by strategic acquisitions and robust performance in its core operations. Total revenues surged by 35.4% to $1.901 billion, fueled by a substantial increase in commissions and fees, which rose by 35.7% to $1.880 billion. This growth was partially bolstered by a significant 125.6% increase in profit-sharing contingent commissions, reflecting improved underwriting results for their carrier partners and increased premium volume. Net income attributable to the Company grew by an impressive 28.7% to $426 million, translating to diluted earnings per share of $1.06, up from $1.15 in the prior year, though slightly down from $1.15 in Q1 2025, highlighting the impact of a large non-cash mark-to-market gain on escrow liability. The company's strategic acquisitions continue to be a major growth driver, contributing significantly to revenue and expense increases across both the Retail and Specialty Distribution segments. Despite these investments, expense management and operational efficiencies appear to be well-controlled, as demonstrated by the stable EBITDAC Margin - Adjusted.

Brown & Brown, Inc. reported solid financial results for the nine months ended September 30, 2025. Total revenues increased by 18.6% to $4,295 million, primarily driven by a substantial increase in commissions and fees, which rose by 18.0% to $4,183 million. This growth was fueled by both organic revenue increases of 4.6% and significant contributions from acquisitions, most notably the acquisition of Accession Risk Management Group for $9.6 billion. Net income attributable to the Company for the nine-month period remained stable at $790 million, while diluted earnings per share slightly decreased to $2.57 from $2.73 in the prior year, influenced by a larger share count following the equity offering. The company's balance sheet reflects substantial growth, with total assets increasing significantly to $29,354 million from $17,612 million at year-end 2024, largely due to acquisitions and a substantial increase in goodwill and amortizable intangible assets. Long-term debt also increased significantly to fund acquisitions. Despite higher interest expenses, the company generated strong operating cash flows of $1,006 million for the nine months, enabling it to manage its increased debt levels and fund its operations and investments.

Brown & Brown, Inc. reported solid financial performance for the six months ended June 30, 2025, with total revenues increasing by 10.4% to $2.69 billion compared to the prior year. Net income attributable to the Company grew by 2.4% to $563 million, while diluted earnings per share were $1.93. The company continues its aggressive acquisition strategy, completing 29 acquisitions in the first half of the year and announcing a significant pending acquisition of Accession Risk Management Group for approximately $9.8 billion, which is expected to close in Q3 2025. This acquisition is being financed through a combination of a substantial equity offering, senior notes issuance, and cash on hand. Operationally, all three segments—Retail, Programs, and Wholesale Brokerage—demonstrated revenue growth. The Retail segment saw a 10.5% revenue increase driven by acquisitions and organic growth, while the Programs segment grew revenue by 7.9%, supported by strong retention and new business. The Wholesale Brokerage segment also experienced robust growth of 13.3%, boosted by acquisitions and increased profit-sharing commissions. Despite increased expenses, particularly employee compensation and other operating expenses, partly due to acquisition-related costs and integration efforts, the company managed to improve its adjusted EBITDAC margin. The significant debt issuance to fund the Accession acquisition is a key factor to monitor going forward.

Brown & Brown, Inc. (BRO) reported strong financial results for the first quarter of 2025, demonstrating robust revenue growth and improved profitability. Total revenues increased by 11.6% year-over-year, driven primarily by a significant 12.7% rise in core commissions and fees. This growth was fueled by a combination of organic revenue expansion of 6.5% and contributions from recent acquisitions. The company effectively managed its expenses, leading to a 17.3% increase in income before income taxes and a 13.0% rise in net income attributable to the Company, reaching $331 million. Profitability metrics like EBITDAC - Adjusted also showed healthy growth, up 14.8%, with an improved EBITDAC Margin - Adjusted of 38.1%. The company's strategic focus on acquisitions and organic growth continues to yield positive results, evident in the diversified performance across its Retail, Programs, and Wholesale Brokerage segments. Brown & Brown's solid liquidity position and ongoing share repurchase program further underscore its financial strength and commitment to shareholder value.

Brown & Brown, Inc. reported strong financial results for the third quarter and first nine months of 2024, demonstrating robust revenue growth and increased profitability. Total revenues for the nine months ended September 30, 2024, rose by 12.1% to $3.62 billion, driven by a healthy 10.6% increase in core commissions and fees. Net income attributable to the Company surged by 30.1% to $783 million for the nine-month period, reflecting effective cost management and operational efficiencies. The company's strategic acquisitions continue to contribute significantly to growth, with new businesses adding substantial revenue streams. While employee compensation and benefits saw an increase, it was managed effectively as a percentage of total revenues over the nine-month period. The balance sheet remains strong, with total assets growing to $17.5 billion and equity increasing to $6.5 billion, supported by continued prudent financial management and a favorable market position. Overall, Brown & Brown exhibits a positive financial trajectory, marked by consistent growth and profitability.

Brown & Brown, Inc. (BRO) reported strong financial performance for the second quarter and the first half of 2024, demonstrating robust revenue growth and profitability. Total revenues increased by 12.5% in the quarter and 12.6% for the first half, primarily driven by a significant rise in commissions and fees. This growth was fueled by a combination of net new business, contributions from recent acquisitions, and favorable investment income. Net income attributable to the Company saw a substantial increase of 35.3% for the quarter and 29.1% for the first half, reaching $257 million and $550 million, respectively. This strong earnings performance, coupled with a solid organic revenue growth rate of 10.0% in the quarter, underscores the company's effective execution of its growth strategy. The company also maintained a healthy liquidity position and continued to execute its capital allocation strategy through dividends and share repurchases.

Brown & Brown, Inc. (BRO) reported strong first-quarter 2024 results, with total revenues increasing by 12.7% to $1.258 billion, driven by a significant 11.6% rise in commissions and fees. Net income attributable to the Company surged by 24.2% to $293 million, translating to a diluted EPS of $1.02, up from $0.83 in the prior year. This robust performance was fueled by organic revenue growth of 8.6% and successful integration of recent acquisitions, alongside a notable increase in profit-sharing contingent commissions. The company's diversified business segments—Retail, Programs, and Wholesale Brokerage—all contributed positively to the top-line growth. The Retail segment saw a 10.0% revenue increase, while the Programs segment experienced a substantial 16.9% jump, and Wholesale Brokerage reported a 15.4% rise. Management highlighted continued focus on new business, customer retention, and strategic acquisitions as key drivers of its sustained growth trajectory. Despite a slight increase in long-term debt, the company maintains a strong liquidity position and expects its existing cash, credit facilities, and operational cash flow to be sufficient for its needs.

Brown & Brown, Inc. (BRO) reported strong financial results for the nine months ended September 30, 2023, with total revenues increasing by 20.9% to $3,230.9 million and net income growing by 14.3% to $601.8 million. This growth was primarily driven by robust performance in core commissions and fees, which increased by 19.0% to $3,105.5 million, supported by both organic growth and contributions from recent acquisitions. The company demonstrated significant organic revenue growth of 11.1% for the nine-month period, reflecting the strength of its core business operations. Profitability also saw a considerable boost, with Adjusted EBITDAC (Earnings Before Interest, Taxes, Depreciation, Amortization, and Change in Estimated Acquisition Earn-Out Payables) increasing by 26.7% to $1,127.0 million. This indicates strong operational efficiency and the successful integration of acquired entities. Despite a notable increase in interest expenses due to higher debt levels and rates, the company maintained healthy margins and a strong liquidity position. Key drivers of this performance include strong net new and renewal business, strategic acquisitions contributing substantial revenue, and favorable market conditions leading to higher investment income and profit-sharing contingent commissions. Management's focus on operational efficiency and growth through acquisitions continues to yield positive financial outcomes, positioning the company for sustained success.

Brown & Brown, Inc. (BRO) reported a strong second quarter of 2023, with total revenues increasing by 24.7% to $1,047.3 million compared to the prior year period. Net income rose significantly by 31.1% to $190.4 million, resulting in diluted earnings per share of $0.67, up from $0.51 in the second quarter of 2022. This growth was primarily driven by robust performance in core commissions and fees, up 22.7%, fueled by both organic revenue growth of 11.2% and contributions from recent acquisitions. The company also benefited from a substantial increase in investment income due to higher interest rates. Despite increased employee compensation and benefits expenses, which rose 28.7%, the company managed to expand its EBITDAC Margin - Adjusted to 34.2%, indicating effective cost management and operational leverage. The first six months of 2023 also showed solid growth, with total revenues up 24.0% to $2,163.3 million and net income up 16.5% to $425.9 million. Organic revenue growth for the six-month period was 11.9%, demonstrating the company's ability to generate growth from its existing operations. The company continued its acquisition strategy, integrating several new intermediaries, which contributed significantly to revenue growth across its segments, particularly Retail and National Programs. Brown & Brown maintains a strong liquidity position with substantial available credit facilities, positioning it well for future growth and operational needs.

Brown & Brown, Inc. reported strong first-quarter 2023 results, with total revenues increasing by 23.4% to $1,116.0 million, primarily driven by robust growth in commissions and fees, up 22.5%. This growth was fueled by a combination of net new business and contributions from recent acquisitions, reflected in an Organic Revenue growth rate of 12.6% for the consolidated entity. Net income rose by 6.9% to $235.5 million, leading to diluted earnings per share of $0.83, an increase from $0.77 in the prior year quarter. The company's performance highlights effective integration of acquisitions and continued organic expansion across its Retail and National Programs segments. Despite increased interest expenses due to higher debt levels and rising benchmark rates, the company maintained a stable Adjusted EBITDAC Margin of 35.7%, demonstrating operational resilience. The balance sheet remains solid, with shareholders' equity increasing and effective management of cash flows, although operating cash flow saw a decrease compared to the prior year, largely due to working capital adjustments.

Brown & Brown, Inc. (BRO) reported strong financial performance for the third quarter and first nine months of 2022, demonstrating significant revenue growth driven by both organic expansion and strategic acquisitions. Total revenues increased by 20.4% for the quarter and 15.5% year-to-date, primarily from core commissions and fees. The company successfully integrated recent acquisitions, contributing substantially to revenue growth. Despite an increase in expenses, particularly employee compensation and benefits, and interest expenses due to higher debt levels, net income saw a healthy increase of 10.0% for the quarter and 8.5% year-to-date, reflecting effective cost management and strong operational execution. The company's strategic focus on acquisitions continues to be a key growth driver, evidenced by significant investments in businesses like GRP and Orchid. While this has led to increased debt levels and associated interest expenses, the company maintains a strong liquidity position and access to credit facilities. Management highlights the resilience of its diversified business model across its four segments—Retail, National Programs, Wholesale Brokerage, and Services—which collectively contributed to the overall positive performance, even amidst broader economic conditions and the impact of Hurricane Ian on certain segments.

Brown & Brown, Inc. (BRO) reported solid financial results for the second quarter and first half of 2022, demonstrating continued growth and operational strength. Total revenues for the second quarter increased by 15.5% to $839.7 million, driven by a strong 15.6% increase in commissions and fees. This growth was fueled by net new and renewal business, contributing to an organic revenue growth rate of 10.3% for the quarter. The company also successfully integrated recent acquisitions, which added $40.9 million in revenue for the quarter. Net income for the quarter rose to $145.2 million, a 4.2% increase year-over-year, with diluted earnings per share remaining stable at $0.51. The first half of 2022 also showed robust performance, with total revenues up 13.1% to $1,744.5 million and net income growing 7.8% to $365.5 million. The company's balance sheet remains strong, with total assets increasing to $12.3 billion as of June 30, 2022, largely due to strategic acquisitions. Management highlighted the successful execution of its growth strategy, both organically and through targeted acquisitions, while effectively managing expenses. The company also secured significant debt financing to support its acquisition strategy, notably the substantial GRP acquisition completed shortly after the quarter's end.

Brown & Brown, Inc. (BRO) reported strong top-line growth in the first quarter of 2022, with total revenues increasing by 11.0% to $904.7 million, driven primarily by a 11.1% rise in commissions and fees. This revenue growth was supported by a solid organic revenue growth rate of 7.8%, demonstrating continued underlying business expansion. Net income also saw a healthy increase of 10.3% to $220.3 million, resulting in diluted earnings per share of $0.77, up from $0.70 in the prior year's quarter. The company actively pursued its growth strategy through acquisitions, with significant investments made in the quarter, as evidenced by a substantial increase in total assets and goodwill. Long-term debt also saw a significant increase, largely due to debt issuance to fund these acquisitions and general corporate purposes. Despite increased debt levels, the company maintained a strong liquidity position, indicating a robust financial footing to support its strategic initiatives and ongoing operations.

Brown & Brown, Inc. (BRO) demonstrated robust financial performance for the nine months ended September 30, 2021, with total revenues increasing by 17.3% to $2.31 billion compared to the prior year. This growth was primarily driven by a strong performance in commissions and fees, which rose by 17.5% to $2.31 billion, reflecting solid organic revenue growth of 10.8% and contributions from recent acquisitions. Net income for the period saw a significant increase of 26.7% to $485.4 million, or $1.71 per diluted share. The company's strategic focus on net new business growth and acquisitions continues to yield positive results, as evidenced by the expansion across its Retail, National Programs, and Wholesale Brokerage segments. Despite increases in employee compensation and benefits and amortization expenses due to acquisitions, the company managed its overall expenses effectively, leading to improved profitability and margins. The company also maintained a strong liquidity position and was compliant with its debt covenants.

Brown & Brown, Inc. (BRO) demonstrated robust financial performance in the second quarter and first half of 2021, reporting significant increases in total revenues and net income compared to the prior year. Total revenues grew by 21.5% to $727.4 million for the quarter and 18.9% to $1.54 billion for the six months ended June 30, 2021. This growth was primarily driven by a substantial increase in commissions and fees, particularly from net new and renewal business, alongside contributions from acquisitions. Net income saw a significant rise of 43.9% to $139.3 million for the quarter and 36.1% to $339.0 million for the six months. The company's core business segments, Retail and National Programs, showed particularly strong organic revenue growth, reflecting successful new business generation and effective pricing strategies. Expenses, notably employee compensation and benefits, also increased but at a slower pace than revenue, leading to improved profitability margins, including a notable expansion in EBITDAC Margin. The company also continues its strategy of disciplined acquisitions, integrating new operations effectively and contributing to overall growth. Despite ongoing economic uncertainties, Brown & Brown maintains a strong liquidity position and compliance with its debt covenants.

Brown & Brown, Inc. reported a strong first quarter for 2021, demonstrating significant revenue growth and improved profitability compared to the same period in the prior year. Total revenues increased by 16.7% to $815.3 million, primarily driven by a robust 16.9% increase in commissions and fees. This growth was fueled by a combination of net new and renewal business, contributing to an Organic Revenue growth rate of 9.8%, and contributions from recent acquisitions. The company also saw a substantial 31.1% increase in net income to $199.7 million, translating to diluted earnings per share of $0.70, up from $0.54 in the first quarter of 2020. Operational expenses also rose, notably employee compensation and benefits, which increased by 22.8% partly due to acquisition-related costs and increased stock-based compensation. However, other operating expenses decreased by 11.9% due to reduced variable costs and favorable insurance policy valuations. The company's strong performance is underpinned by its diversified business model across its four reportable segments: Retail, National Programs, Wholesale Brokerage, and Services, all of which contributed positively to revenue growth. Management highlights the effective execution of its growth strategies, including strategic acquisitions, and anticipates continued solid performance.

Brown & Brown, Inc. (BRO) reported solid financial results for the nine months ended September 30, 2020, with total revenues increasing by 8.7% to $1.97 billion and net income growing by 19.0% to $383.2 million, or $1.35 per diluted share. This growth was primarily driven by a robust increase in commissions and fees, reflecting both strong organic revenue growth of 3.5% and strategic acquisitions. The company demonstrated effective expense management, with employee compensation and benefits growing at a slower pace than revenues and other operating expenses decreasing. Key financial highlights include a significant increase in cash and cash equivalents, reaching over $1 billion by the end of the period, supported by strong operating cash flows. The company also successfully executed a $700 million senior notes issuance, reinforcing its liquidity position and financing its growth initiatives. Despite the ongoing economic uncertainty due to COVID-19, Brown & Brown maintained its commitment to returning value to shareholders through consistent dividend payments and share repurchases.

Brown & Brown, Inc. (BRO) reported solid financial results for the second quarter and first half of 2020, demonstrating resilience amidst the COVID-19 pandemic. Total revenues for the quarter increased by 4.1% to $598.8 million, and for the six months, they grew by 8.6% to $1.3 billion. Net income also saw an increase, rising by 4.5% to $96.8 million for the quarter and 20.7% to $249.2 million for the six months. The company's diversified business model, with strong performance in its National Programs and Wholesale Brokerage segments, helped offset some of the negative impacts from COVID-19, particularly in the Services segment. Acquisitions continued to play a significant role in the company's growth, contributing substantially to revenue increases. Despite the challenging economic environment, Brown & Brown maintained a strong balance sheet with total assets growing to $8.2 billion. The company managed its expenses effectively, with employee compensation and benefits increasing at a controlled pace relative to revenue growth. Liquidity remains strong, with ample access to borrowing facilities and a focus on maintaining financial flexibility. The company's ability to adapt to remote work environments and manage operational expenses demonstrates its operational agility. While acknowledging the ongoing uncertainties posed by the pandemic, the company's strategic focus on acquisitions and operational efficiency positions it to navigate future challenges.

Brown & Brown, Inc. (BRO) reported solid financial results for the first quarter ended March 31, 2020, demonstrating resilience despite the emerging economic uncertainties from the COVID-19 pandemic. Total revenues grew by 12.8% to $698.5 million, driven by a robust 12.8% increase in commissions and fees. The company achieved a 5.6% Organic Revenue growth rate, indicating strong underlying business performance from net new business and acquisitions, although this was partially offset by a $10.5 million adjustment related to COVID-19's anticipated impact on future revenues. Net income saw a significant increase of 33.8% to $152.4 million, with diluted earnings per share rising to $0.54 from $0.40 in the prior year period. The company actively managed its expenses, with employee compensation and benefits increasing by 5.0% and other operating expenses rising by 20.7%. Notably, the change in estimated acquisition earn-out payables resulted in a credit of $11.0 million, positively impacting net income. The balance sheet remains strong, with total assets of $7.6 billion. The company also continued its strategic acquisition strategy, completing five acquisitions during the quarter, investing $153.3 million in cash for these transactions. Brown & Brown highlighted its strong liquidity position, with significant borrowing capacity available, and stated its belief that existing resources are sufficient to meet its liquidity needs for at least the next 12 months.

Brown & Brown, Inc. (BRO) reported strong financial results for the nine months ended September 30, 2019, with total revenues increasing by 20.4% to $1.81 billion and net income rising by 18.9% to $321.995 million compared to the same period in 2018. This growth was primarily driven by acquisitions, which contributed significantly to the increase in commissions and fees. Organic revenue, a key measure of underlying business growth, also showed positive trends, increasing by 3.1% for the nine-month period. The company's profitability remained robust, with a healthy income before income taxes margin of 23.4%. Significant investments were made in the business, as evidenced by a 64.1% increase in capital expenditures, largely related to technology and acquisitions. The company's balance sheet strengthened, with total assets growing by 32.4% to $7.68 billion, largely due to acquisitions, which increased goodwill and amortizable intangible assets. Long-term debt also increased to support growth initiatives, but the company maintained adequate liquidity, with significant cash and cash equivalents. Management expressed confidence in the company's ability to meet its financial obligations and pursue its growth strategy.

Brown & Brown, Inc. (BRO) reported strong financial results for the quarter and six months ended June 30, 2019, demonstrating robust revenue growth and improved profitability. Total revenues increased by 21.6% for the quarter and 22.6% for the six-month period, primarily driven by a significant rise in commissions and fees. This growth was fueled by a combination of acquisitions and organic growth, with core commissions and fees from new businesses and net new/renewal business contributing substantially. Net income saw a healthy increase of 25.3% for the quarter and 25.4% for the six-month period. This improved profitability was supported by strong revenue growth, effectively managed operating expenses, and a slightly lower effective tax rate compared to the prior year. The company continues to execute its acquisition strategy effectively, integrating new businesses while maintaining solid operational performance across its diverse segments.

Brown & Brown, Inc. (BRO) reported strong first-quarter 2019 results, demonstrating robust growth driven by a combination of acquisitions and organic business development. Total revenues surged by 23.5% year-over-year to $619.3 million, primarily fueled by a significant increase in commissions and fees, up 23.4% to $617.5 million. This growth was supported by an acceleration in acquisitions and a modest 2.0% organic revenue growth rate, indicating the company's ability to expand its market presence and integrate new businesses effectively. Net income saw a substantial increase of 25.4% to $113.9 million, translating to a diluted EPS of $0.40, up from $0.32 in the prior year. The company's expense management remained effective, with employee compensation and benefits increasing slightly slower than revenues, and other operating expenses growing at a more moderated pace. The company also continued its strategic acquisition strategy, completing eight acquisitions during the quarter, which contributed significantly to the revenue uplift. Brown & Brown maintains a strong financial position with total assets exceeding $6.8 billion and appears well-positioned for continued growth and profitability.

Brown & Brown, Inc. reported strong revenue growth of 11.6% for the third quarter of 2018, reaching $530.85 million, and a 7.0% increase year-to-date to $1.51 billion. This growth was primarily driven by acquisitions and the adoption of new revenue recognition standards, which accelerated the timing of certain commission and fee recognitions. Net income for the quarter saw a significant jump of 39.7% to $106.05 million, or $0.38 per diluted share, compared to the prior year period. While the company continues its aggressive acquisition strategy, evidenced by 18 acquisitions completed in the first nine months of 2018, its organic revenue growth remained moderate at 1.4% for the third quarter. The company also announced a significant acquisition of The Hays Group, Inc. for approximately $705 million, expected to close in November 2018, which will be funded through its credit facility. This strategic move is poised to expand its presence in the Midwest. Despite increased employee compensation and other operating expenses, the company demonstrated effective cost management relative to revenue growth, with employee compensation as a percentage of total revenues decreasing in the quarter.

Brown & Brown, Inc. reported solid revenue and net income growth for the second quarter and first half of 2018. Total revenues increased by 1.5% to $473.2 million for the quarter and 4.6% to $974.6 million for the first half, driven by commissions and fees across its segments. Net income saw a significant boost of 11.8% to $73.9 million for the quarter and 21.0% to $164.8 million for the first half, positively impacted by lower income taxes due to the Tax Cuts and Jobs Act of 2017. The company's organic revenue growth remained strong, indicating healthy underlying business expansion, particularly in the National Programs and Services segments. Acquisitions continue to be a key growth driver, with several smaller acquisitions contributing to revenue. Management highlighted the adoption of new revenue recognition standards (ASC Topic 606) which impacted the timing of revenue and expense recognition, leading to some year-over-year comparisons requiring careful consideration. Overall, the financial performance demonstrates resilience and continued strategic execution.

Brown & Brown, Inc. reported a strong first quarter for 2018, with total revenues increasing by 7.8% to $501.5 million compared to the same period in 2017. This growth was primarily driven by a significant increase in commissions and fees, which rose by 12.5%, partly due to the adoption of new revenue recognition standards (ASC 606) that accelerated the timing of certain revenue recognition. Net income saw a substantial jump of 29.6% to $90.8 million, with diluted earnings per share increasing to $0.32 from $0.25 in the prior year. The company also experienced growth across most of its operating segments, with the Retail and National Programs segments showing particularly robust performance. Acquisitions continue to be a key part of Brown & Brown's growth strategy, with $33.6 million invested in two new intermediaries during the quarter. Despite increased employee compensation and benefits, the company managed its expenses effectively, leading to improved profitability and a healthy increase in cash flow from operations.

Brown & Brown, Inc. (BRO) reported solid financial results for the nine months ended September 30, 2017. Total revenues increased by 5.6% to $1.41 billion, driven by a 4.4% increase in core commissions and fees. Net income grew by 6.2% to $212.1 million, or $1.49 per diluted share, demonstrating continued profitability. The company's organic revenue growth rate was 2.8% for the period, indicating sustained performance from existing operations. The balance sheet shows total assets growing to $7.41 billion, with a significant increase in current assets, largely due to a substantial rise in 'Reinsurance recoverable'. The company maintained a strong liquidity position with $823.2 million in cash and cash equivalents, inclusive of restricted cash. Long-term debt decreased to $860.7 million. The company continued its acquisition strategy, completing six acquisitions during the nine-month period, contributing to its growth.

This filing for Brown & Brown, Inc. (BRO) is an amendment (10-Q/A) to their quarterly report for the period ending June 29, 2015, filed on August 17, 2017. The primary content of this amendment consists of various exhibits, including CEO and CFO certifications regarding the accuracy of financial reporting (Rules 13a-14(a)/15d-14(a) and Section 1350), along with XBRL (eXtensible Business Reporting Language) related documents. This indicates a focus on compliance and the structured electronic presentation of financial data rather than new operational or financial performance disclosures for the period. Investors should note that this filing does not provide updated financial performance figures or strategic updates for the reported quarter. Instead, it serves as a supplement to the original filing, primarily addressing certification and data tagging requirements. The inclusion of XBRL documents suggests Brown & Brown's commitment to modern, machine-readable financial reporting standards, which can facilitate more efficient analysis for investors and the market.

This filing is an amendment to Brown & Brown, Inc.'s (BRO) 10-Q for the period ending September 29, 2015, filed on August 18, 2017. As this is an amendment, it primarily focuses on submitting additional exhibits rather than presenting new financial performance data for the specified period. Investors reviewing this filing should note that it does not contain updated financial statements or operational highlights that would typically be found in a standard quarterly report. Instead, it serves to formally include various certifications and XBRL-related documents as required by the SEC.

This filing is an amendment (10-Q/A) to Brown & Brown, Inc.'s quarterly report for the period ending June 29, 2016, filed on August 17, 2017. The amendment primarily relates to the submission of exhibits, including CEO and CFO certifications regarding the accuracy of financial reporting (Rule 13a-14(a)/15d-14(a) and Section 1350 certifications). It also includes XBRL (eXtensible Business Reporting Language) related documents, which are essential for machine-readable financial data. As this is an amendment focusing on exhibits and certifications rather than revised financial statements, it does not provide new operational or financial performance data for the quarter. Investors should refer to the original 10-Q filing for the detailed financial and operational insights for the period ending June 29, 2016. The significance of this amendment lies in its procedural nature, ensuring compliance with SEC disclosure requirements.

Brown & Brown, Inc. (BRO) filed an amendment to its 10-Q quarterly report on August 18, 2017. This filing primarily consists of exhibits related to corporate governance and financial reporting compliance. Investors should note the inclusion of CEO and CFO certifications under Rule 13a-14(a)/15d-14(a) and Section 1350, which attest to the accuracy and completeness of the financial statements and disclosures. These certifications are a standard requirement and reinforce the company's commitment to transparency and regulatory adherence.

This filing is an amendment to Brown & Brown, Inc.'s (BRO) 10-Q for the period ending September 29, 2016. It primarily concerns the submission of exhibits, including certifications from the CEO and CFO regarding the accuracy of financial reporting (Rule 13a-14(a)/15d-14(a) and Section 1350 certifications). Additionally, it includes XBRL-related documents for interactive data reporting. Investors should note that this amendment does not contain updated financial performance data or operational insights for the period. The core financial information would have been presented in the original 10-Q filing.

This filing is an amendment to BROWN & BROWN, INC.'s (BRO) 10-Q for the period ending March 30, 2016, filed on August 17, 2017. The amendment primarily consists of exhibits, including certifications from the CEO and CFO regarding the accuracy of the financial statements (Rules 13a-14(a)/15d-14(a) and Section 1350), as well as XBRL (eXtensible Business Reporting Language) related documents. Investors should note that this amendment does not appear to introduce new financial data or operational updates for the period. Instead, it serves to provide the necessary certifications and digital tagging for regulatory compliance. For a comprehensive understanding of the company's financial performance and business operations during that period, investors should refer to the original 10-Q filing and any subsequent reports that include updated financial information.

Brown & Brown, Inc. (BRO) reported its financial results for the quarter and six months ended June 30, 2017. For the quarter, total revenues increased by 4.4% to $466.3 million, while net income slightly decreased by 0.2% to $66.1 million. For the six-month period, total revenues grew by 7.0% to $931.4 million, and net income saw a more substantial increase of 6.2% to $136.2 million. Acquisitions continue to be a key growth driver, contributing significantly to revenue. Organic revenue growth, a key performance indicator excluding acquisitions and divestitures, was 1.6% for the quarter and 2.5% for the six-month period, indicating solid underlying business performance. The company's balance sheet remains strong, with total assets at $5.3 billion and shareholders' equity at $2.5 billion. Management expects sufficient liquidity to cover its obligations for at least the next twelve months.

Brown & Brown, Inc. (BRO) reported a solid first quarter for 2017, demonstrating continued revenue growth and profitability. Total revenues increased by 9.6% to $465.1 million, driven by a 5.3% rise in commissions and fees, with organic revenue growth of 3.5%. This growth was a combination of net new business and acquisitions, reflecting the company's consistent strategy. Net income saw a significant jump of 12.9% to $70.1 million, or $0.49 per diluted share, up from $62.1 million ($0.44 per diluted share) in the prior year. A notable contributor to the "Other income, net" line was a $20.0 million legal settlement, which significantly boosted the quarter's results. The company maintained a strong balance sheet with total assets of $5.2 billion and shareholders' equity of $2.4 billion. Overall, the quarter indicates continued operational strength and effective management of growth initiatives.

Brown & Brown, Inc. (BRO) reported solid financial results for the nine months ended September 30, 2016, with total revenues increasing by 6.1% to $1,332.965 million compared to the prior year. This growth was primarily driven by an 8.0% increase in commissions and fees for the third quarter and a 6.3% increase for the nine-month period, reflecting both acquisitions and organic growth. Net income for the nine months rose to $199.865 million, a 7.7% increase year-over-year, leading to diluted earnings per share of $1.41. The company continues its strategy of growth through acquisitions, completing six acquisitions (excluding book of business purchases) in the first nine months of 2016. Total assets grew to $5.52 billion. While employee compensation and benefits expenses rose, reflecting investments in growth and acquisitions, the company managed other operating expenses effectively. The balance sheet remains robust with adequate liquidity, supported by operating cash flows and an undrawn revolving credit facility, allowing the company to continue its strategic initiatives.

Brown & Brown, Inc. (BRO) reported solid financial results for the second quarter and first half of 2016. Total revenues increased by 6.5% to $446.5 million for the quarter and 5.7% to $870.7 million for the first half, primarily driven by growth in commissions and fees. Net income saw a healthy increase of 8.6% to $66.3 million for the quarter and 8.8% to $128.3 million for the first half, demonstrating strong operational performance. The company continued its strategic acquisition strategy, completing five acquisitions in the first half of the year. This contributed to revenue growth, though it also impacted expenses. Despite integration costs and a notable increase in "Change in estimated acquisition earn-out payables," the company managed its expenses effectively, with employee compensation and benefits as a percentage of total revenues remaining relatively stable. The company's liquidity remains strong, with significant cash and cash equivalents, and access to a substantial revolving credit facility.

Brown & Brown, Inc. (BRO) reported a solid first quarter for 2016, demonstrating consistent growth and profitability. Total revenues increased by 4.9% to $424.2 million, driven primarily by a 4.8% rise in commissions and fees. Net income grew by 9.0% to $62.1 million, resulting in diluted earnings per share of $0.44, an increase from $0.39 in the prior year's comparable quarter. The company's strategic focus on acquisitions continues to be a key driver of its top-line growth, with acquired operations contributing significantly to the increase in commissions and fees. Despite rising employee compensation and benefits expenses, which increased by 5.9%, the company managed to improve its profitability through effective expense management and favorable changes in acquisition earn-out payables. Brown & Brown maintained a strong balance sheet with total assets of $4.99 billion and robust liquidity, positioning it well for continued growth.

Brown & Brown, Inc. reported solid financial results for the nine months ended September 30, 2015, with total revenues increasing by 6.2% to $1,255,912 thousand compared to the prior year. Net income also saw a modest increase of 1.6% to $185,383 thousand. The company's core commissions and fees, a key indicator of operational performance, grew by 7.0% for the nine-month period, demonstrating effective organic growth and strategic acquisitions. Key drivers for the revenue growth include contributions from recently acquired businesses, which added approximately $64.9 million in core commissions and fees. Organic growth, measured by core organic commissions and fees, was 2.6% for the nine months, indicating the company's ability to expand its existing business. Expenses, particularly employee compensation and benefits, rose in line with revenue growth and acquisitions, but overall expense management appears effective as income before taxes grew by 2.1% year-over-year. The company continues to manage its debt effectively, with total debt decreasing slightly and remaining well within its credit facility capacity.

Brown & Brown, Inc. reported solid performance for the six months ended June 30, 2015, demonstrating revenue growth driven by both acquisitions and organic expansion. Total revenues increased by 8.2% year-over-year to $823.7 million, with commissions and fees, the primary revenue driver, up 8.5%. Net income saw a modest increase of 3.3% to $117.9 million. The company continues its strategy of acquiring and integrating new businesses, contributing significantly to revenue growth, particularly in the Retail and National Programs segments. Organic growth, measured by core organic commissions and fees, also showed positive momentum, with a 2.8% increase for the six-month period. Expenses, particularly employee compensation and benefits, rose in line with revenue growth and strategic investments. The company also managed its debt effectively, reducing its overall long-term debt slightly while maintaining strong liquidity.

Brown & Brown, Inc. (BRO) reported a solid first quarter for 2015, demonstrating consistent growth driven by both acquisitions and organic initiatives. Total revenues increased by 11.2% year-over-year, reaching $404.3 million, with commissions and fees being the primary driver. Net income saw a healthy increase of 8.7% to $57.0 million, translating to diluted earnings per share of $0.39, up from $0.36 in the prior year's first quarter. The company's strategic focus on expanding its core business through acquisitions continues to yield positive results, contributing significantly to revenue growth across its segments. While expenses also rose, largely due to integration costs from recent acquisitions and increased employee compensation, the company managed to improve its profit margins, with income before income taxes growing 8.0%. Investors can take confidence in the company's sustained revenue growth and profitability, underscoring its resilient business model in the insurance intermediary sector.

Brown & Brown, Inc. (BRO) reported strong revenue growth for the nine months ended September 30, 2014, driven by significant acquisitions, most notably The Wright Insurance Group. Total revenues increased by 15.9% year-over-year to $1.18 billion, with commissions and fees forming the bulk of this growth. Net income also saw a healthy increase of 7.4% to $182.5 million. The company's strategic focus on acquiring other insurance intermediaries continues to be a key driver of its expansion and financial performance, reflected in the substantial increase in goodwill and amortizable intangible assets on the balance sheet. Despite robust top-line growth, investors should note the significant increase in long-term debt, rising from $380 million to over $1.16 billion, primarily to fund acquisitions. While interest expense has increased substantially (51.7% for the nine months), the company's strong operational cash flow generation and access to revolving credit facilities provide comfort regarding liquidity. The company maintains a positive outlook, expecting continued profitable growth through its decentralized sales culture and ongoing acquisition strategy.

Brown & Brown, Inc. (BRO) reported strong revenue growth in the second quarter and first half of 2014, driven by a significant increase in core commissions and fees, largely attributable to strategic acquisitions. The company's revenue climbed by 22.1% year-over-year for the quarter and 15.2% for the six-month period, with substantial contributions from newly acquired entities. Organic growth also remained positive, indicating underlying business strength. Despite increased operating expenses, particularly employee compensation and benefits, and other operating expenses due to acquisitions, the company managed to grow income before income taxes by 18.0% for the quarter. This growth was bolstered by the successful integration of recent acquisitions and positive contributions from core operations. The company also announced a new $200 million share repurchase program, signaling confidence in its financial position and commitment to returning value to shareholders.

Brown & Brown, Inc. reported mixed results for the first quarter ended March 31, 2014. Total revenues increased by 8.5% year-over-year to $363.6 million, driven by a 6.8% increase in core commissions and fees and a significant rise in profit-sharing and guaranteed supplemental commissions. However, net income saw a decline of 12.8% to $52.4 million, or $0.36 per diluted share, compared to $60.1 million ($0.41 per diluted share) in the prior year's quarter. This decrease was primarily attributed to higher employee compensation and benefits, increased non-cash stock-based compensation, and a substantial rise in the change of estimated acquisition earn-out payables, alongside the impact of Hurricane Sandy on prior year's results. The company highlighted positive internal revenue growth (excluding the impact of Hurricane Sandy) of 3.9% in its core organic commissions and fees, indicating underlying business strength. Acquisitions continue to be a key growth driver, contributing $27.5 million to core commissions and fees. Looking ahead, Brown & Brown is in the process of acquiring The Wright Insurance Group for $602.5 million, a significant transaction expected to close in the second quarter of 2014, which will be financed through a new $1.35 billion credit facility.

Brown & Brown, Inc. (BRO) reported strong financial performance for the nine months ended September 30, 2013. Total revenues grew by 13.7% to $1,020.1 million, driven primarily by a 14.1% increase in commissions and fees. Net income rose significantly by 20.1% to $169.9 million, with diluted EPS increasing to $1.16 from $0.97 in the prior year period. The company's strategic acquisitions, including the significant Beecher Carlson Holdings, Inc. acquisition in July 2013, contributed substantially to this growth, with a notable increase in goodwill and intangible assets on the balance sheet. The company demonstrated robust internal growth as well, with core organic commissions and fees increasing by 8.2% for the nine-month period, indicating healthy organic expansion across its various divisions. While the company experienced an increase in employee compensation and benefits, it was largely in line with revenue growth and acquisition integration, with efforts to improve operational efficiencies continuing. The balance sheet shows a substantial increase in total assets to $3.55 billion, largely due to goodwill and intangible assets from acquisitions. The company maintains a strong liquidity position and adequate capital resources to fund ongoing operations and future growth initiatives.

Brown & Brown, Inc. (BRO) reported strong financial performance for the second quarter and the first half of 2013. Total revenues increased by 12.0% and 11.4% year-over-year for the respective periods, driven primarily by a significant rise in commissions and fees. Net income also saw robust growth, up 22.5% for the quarter and 22.0% for the first half. The company's organic growth, a key indicator of underlying business health, showed significant improvement. Core organic commissions and fees grew by 7.4% in the second quarter and 8.8% in the first half, demonstrating broad-based strength across its Retail, National Programs, Wholesale Brokerage, and Services divisions. This organic growth, coupled with strategic acquisitions, positions Brown & Brown for continued expansion. The company also made a significant acquisition, Beecher Carlson Holdings, Inc., on July 1, 2013, for $454.5 million, which is expected to further enhance its market position.

Brown & Brown, Inc. reported a strong first quarter for 2013, demonstrating significant growth in revenues and net income compared to the prior year. Total revenues increased by 10.8% to $335.0 million, driven by robust growth in commissions and fees, which rose 12.6% to $333.8 million. This revenue surge was primarily fueled by a 10.2% increase in core organic commissions and fees, indicating healthy net new business and favorable market conditions. Net income saw a substantial jump of 21.6% to $60.1 million, translating to diluted earnings per share of $0.41, up from $0.34 in the same period last year. The company's diverse business segments, particularly the Services Division, contributed significantly to this growth, with the Services Division experiencing a remarkable 65.1% revenue increase. The company maintains a solid financial position with a healthy current ratio and sufficient liquidity to meet its obligations.

Brown & Brown, Inc. (BRO) reported solid financial performance for the nine months ended September 30, 2012, demonstrating revenue growth driven by both organic expansion and strategic acquisitions. Total revenues increased by 16.6% year-over-year to $897.2 million, with commissions and fees, the primary revenue driver, showing a similar 17.8% increase. This growth was supported by a positive core organic commission and fees growth rate of 1.7% for the nine-month period, indicating stabilizing market conditions and effective sales strategies. The company also saw a significant increase in total assets, reaching $3.13 billion, largely due to substantial investments in business combinations, notably the acquisition of Arrowhead General Insurance Agency Superholding Corporation. Profitability remained strong, with net income for the nine months rising to $141.4 million, a 10.9% increase from the prior year, leading to diluted earnings per share of $0.97. While employee compensation and benefits expenses saw an increase, partly due to integration costs from acquisitions, the company managed these effectively, with the expense ratio remaining relatively stable. The company's liquidity position is robust, supported by significant cash flows from operations and a well-managed debt structure, positioning Brown & Brown for continued growth and strategic initiatives.

Brown & Brown, Inc. (BRO) reported solid financial results for the quarter and six months ended June 30, 2012, demonstrating resilience and growth in a dynamic market. Total revenues saw a significant increase of 17.9% for the quarter and 16.6% for the six months, largely driven by substantial growth in commissions and fees. This growth was fueled by both strategic acquisitions, notably the significant Arrowhead acquisition, and positive internal growth in core organic commissions and fees, which returned to positive territory after a challenging period. Despite increased expenses related to acquisitions and employee compensation, the company managed to improve its net income by 14.7% for the quarter and 10.3% for the six months compared to the prior year. The company's strategic focus on expanding its core businesses through acquisitions, combined with stabilizing economic conditions and a modest increase in insurance premium rates, positions it favorably for continued performance. The diversification across its four reportable segments—Retail, National Programs, Wholesale Brokerage, and Services—also contributes to its stability and growth prospects.

Brown & Brown, Inc. (BRO) reported solid revenue growth of 15.4% to $302.5 million for the first quarter ended March 31, 2012, compared to the same period in 2011. This growth was primarily driven by a significant increase in core commissions and fees, bolstered by strategic acquisitions, most notably the Arrowhead acquisition, which contributed substantially to revenues. Net income also saw a positive increase of 6.8% to $49.4 million, translating to diluted earnings per share of $0.34, up from $0.32 in the prior year. Despite a decrease in profit-sharing contingent commissions and Guaranteed Supplemental Commissions (GSCs), the company demonstrated resilience through strong organic growth in its core business lines, with core organic commissions and fees increasing by 0.9%. This marks a positive inflection point after several quarters of negative internal growth, signaling potential stabilization in the middle-market economy and a modest uptick in insurance premium rates. The company's balance sheet strengthened, with total assets growing to over $3 billion, supported by significant goodwill and intangible assets resulting from acquisitions. Management expressed confidence in the company's liquidity and capital resources to meet its obligations through the end of 2012 and beyond, supported by operational cash flow and existing credit facilities.