Brown & Brown: 4Q Earnings Snapshot
DAYTONA BEACH, Fla. (AP) _ Brown & Brown Inc. (BRO) on Monday reported fourth-quarter net income of $73.5 million.
The Daytona Beach, Florida-based company said it had profit of 26 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The insurance company posted revenue of $508.7 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $501.3 million.
For the year, the company reported profit of $344.3 million, or $1.22 per share. Revenue was reported as $2.01 billion.
Brown & Brown shares have increased 1.5 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $27.96, a rise of 4 percent in the last 12 months.