Brown & Brown Shares Fall 5% After Missing Q3 Earnings Estimates
Brown & Brown (BRO) shares declined nearly 5% following the release of third-quarter earnings that failed to meet analyst expectations for both revenue and profit. While total revenue rose 7% year-over-year to $1.73 billion, it fell short of the projected $1.76 billion. Similarly, adjusted earnings per share reached $1.07, missing the consensus estimate of $1.09. The company attributed some performance pressure to a challenging rate environment characterized by softening insurance premium prices. Although recent acquisitions like Accession Risk Management Group bolstered total figures, organic revenue growth remained sluggish at just over 1% year-over-year, signaling stagnation in the firm's core legacy business.
Tickers: $BRO
Topics: earnings report EPS miss insurance industry revenue miss
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