Brown & Brown IncBRO
▼ NegativeCapitalrelevance
Q2 adjusted EPS and revenues missed estimates, and organic revenues declined.
Impact on stocks 1
Financials
Brown & Brown IncBrown & Brown Shares Dip 0.4% After Q2 Earnings Miss
Earnings
Brown & Brown's shares have fallen 0.4% since its second-quarter earnings report, underperforming the S&P 500. The company reported adjusted earnings of $1.07 per share, missing the Zacks Consensus Estimate by 0.9%, while revenues of $1.67 billion also missed expectations but rose 30.4% year over year, driven by acquisitions. Organic revenues declined 0.7%, with the retail segment growing organically by 1.5% but the specialty unit falling 3.5%. Adjusted EBITDAC margin contracted 100 basis points to 35.7%, and the company repurchased $250 million of stock and raised its quarterly dividend by 10% to 16.5 cents per share. Management expects rate changes in the second half to remain similar to second-quarter levels, with capital deployment focused on share repurchases and specialty acquisitions.
Brown & Brown IncQ2 adjusted EPS and revenues missed estimates, and organic revenues declined.