Brown & Brown Inc. (BRO) has announced a decrease in profit for the fourth quarter compared to the same period the previous year. The firm reported earnings of $210 million, translating to $0.73 per share, as opposed to the $269 million, or $0.94 per share, recorded last year.
When excluding specific items, the adjusted earnings stood at $0.86 per share for the quarter. Despite the decline in profits, the company's revenue experienced a 15.4% increase, reaching $1.184 billion, up from $1.026 billion in the prior year.
Here's a summary of Brown & Brown Inc.'s financial performance based on Generally Accepted Accounting Principles (GAAP):
- Earnings: $210 million, compared to $269 million last year.
- Earnings Per Share (EPS): $0.73, down from $0.94 the previous year.
- Revenue: $1.184 billion, an increase from $1.026 billion in the prior year.
