BROWN & BROWN, INC. SEC 10-Q Report
Brown & Brown, Inc., a leading insurance brokerage firm, has released its Form 10-Q report for the second quarter of 2025. The report highlights the company's robust financial performance and significant business achievements, driven by organic growth, strategic acquisitions, and improved operational efficiency.
Financial Highlights
Total Revenues: $1,285 million for the three months ended June 30, 2025, representing a 9.1% increase from the same period in 2024, driven by net new and renewal business, acquisitions, and foreign currency translation.
Total Revenues: $2,689 million for the six months ended June 30, 2025, reflecting a 10.4% increase over the same period in 2024, attributed to organic growth and recent acquisitions.
Net Income Attributable to the Company: $231 million for the three months ended June 30, 2025, a decrease of 10.1% compared to the same period in 2024, primarily due to the absence of a gain on disposal recorded in the prior year.
Net Income Attributable to the Company: $563 million for the six months ended June 30, 2025, an increase of 2.4% over the same period in 2024, supported by organic revenue growth and acquisitions.
Basic Net Income Per Share: $0.79 for the three months ended June 30, 2025, compared to $0.90 for the same period in 2024.
Diluted Net Income Per Share: $0.78 for the three months ended June 30, 2025, compared to $0.90 for the same period in 2024.
Basic Net Income Per Share: $1.94 for the six months ended June 30, 2025, slightly up from $1.93 for the same period in 2024.
Diluted Net Income Per Share: $1.93 for the six months ended June 30, 2025, compared to $1.92 for the same period in 2024.
Income Before Income Taxes: $311 million for the three months ended June 30, 2025, a decrease of 10.1% from the same period in 2024, impacted by acquisition/integration costs and the absence of prior year gains.
Income Before Income Taxes: $738 million for the six months ended June 30, 2025, a 3.7% increase over the same period in 2024, reflecting improved operational performance and acquisitions.
Business Highlights
Revenue Segments: The Retail segment reported $697 million in total segment revenues for the three months ended June 30, 2025, reflecting a 7.9% growth compared to the same period in 2024. The Programs segment achieved $381 million, marking a 5.9% increase, while the Wholesale Brokerage segment saw a 14.6% rise to $182 million.
Geographical Performance: The U.S. market contributed $1,073 million to total revenues for the three months ended June 30, 2025, showing a steady increase from $1,006 million in the same period of 2024. The U.K. market also experienced growth, with revenues rising to $164 million from $144 million. Other international markets saw a significant increase, with revenues jumping to $48 million from $28 million.
Operational Efficiency: The company maintained a strong EBITDAC Margin - Adjusted of 36.7% for the three months ended June 30, 2025, up from 35.7% in the same period of 2024, indicating improved operational efficiency.
Organic Revenue Growth: The company achieved an Organic Revenue growth rate of 3.6% for the three months ended June 30, 2025, driven by net new and renewal business, acquisitions, and favorable foreign currency translation impacts.
Future Outlook: The company is focused on completing the acquisition of Accession, which is expected to close in the third quarter of 2025. This acquisition is anticipated to enhance the company's market position and operational capabilities.
SEC Filing: BROWN & BROWN, INC. [ BRO ] - 10-Q - Jul. 28, 2025