Brown & Brown, Inc.
80.30-2.08 (-2.52%)
Oct 29, 4:00:02 PM EDT · NYSE · BRO · USD
Report date
≈ Jan 26, 2026 (in 88 days)EPS
1.46 (1.37 ~ 1.57)Revenue
1.95B (1.89B ~ 2.04B)Key Stats
Market Cap
27.42BP/E (TTM)
24.33Basic EPS (TTM)
3.30Dividend Yield
0%Recent Filings
10-Q
Q3 FY2025 results
Brown & Brown posted solid Q3 results, with total revenues jumping 35.4% year-over-year to $1,606M, driven by the August 1, 2025 acquisition of Accession Risk Management Group for $9,598M (cash and stock mix, recognizing $6,538M goodwill and $3,236M finite-lived intangibles amortized over 14 years). Core commissions and fees rose 30.9% y/y to $1,477M, including 3.5% organic growth (derived), while profit-sharing contingent commissions surged 170% to $73M on better underwriting. Operating income dipped slightly to $311M from $317M y/y amid higher amortization ($93M, up 106.7%) and interest ($100M, up 100%), but diluted EPS held at $0.68, reconciling to 332M shares with 4.5M anti-dilutive options flagged. Cash swelled to $1,190M, with operating cash flow at $1,006M YTD; total debt climbed to $7,728M (various senior notes and term loans, compliant with covenants), offset by $600M revolver capacity. Free cash flow not disclosed in the 10-Q. Yet integration hurdles loom.
8-K
Hearn takes Retail helm
Brown & Brown appointed Stephen P. Hearn as President of the Retail Segment effective October 17, 2025, layering the role onto his ongoing duties as Executive Vice President and Chief Operating Officer. He steps in for P. Barrett Brown, who began a personal leave of absence that day after serving as Retail Segment President. This shift hands operational reins to Hearn, a veteran insider since February 2025. Leadership transitions like this test continuity.
8-K
Segment reorganization announced
Brown & Brown announced a segment reorganization on June 10, 2025, merging its Programs and Wholesale Brokerage into a new Specialty Distribution segment, effective July 1, 2025, following the Accession Risk Management acquisition. This shift streamlines reporting to Retail and Specialty Distribution, with recast data showing Specialty Distribution's 2024 revenues at $2,016 million and income before taxes at $778 million. Consolidated financials remain unchanged. Investors gain clearer visibility into operations.
8-K
Board adds seasoned director
Brown & Brown, Inc. expanded its Board from 13 to 14 directors and appointed Joia M. Johnson, 65, effective August 13, 2025. Johnson brings deep expertise as former Chief Administrative Officer and General Counsel at Hanesbrands, plus current board roles at Global Payments, Sylvamo, and Regions Financial. Her term ends at the 2026 annual meeting. She'll join committees later, bolstering governance amid growth.
8-K
Acquisition of Accession completed
Brown & Brown completed its acquisition of RSC Topco, the holding company for Accession Risk Management Group, on August 1, 2025, for an aggregate $9.825 billion, with net consideration of about $4.7 billion split between $3.5 billion cash and $1.2 billion in common stock. This bolsters the company's North American insurance distribution with specialty brands like Risk Strategies and One80 Intermediaries. Deal closed swiftly after the June 10 merger agreement. A portion of proceeds sits in escrow for indemnification.
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