Mar 31, 2023

Brown & Brown Q1 2023 Earnings Report

Reported a strong start to the year with good profitable growth.

Key Takeaways

Brown & Brown, Inc. reported a 23.4% increase in total revenues to $1,116.0 million for Q1 2023. Organic revenue growth was 12.6%. Diluted net income per share increased to $0.83, and adjusted diluted net income per share increased to $0.84.

Total revenues increased by 23.4% to $1,116.0 million.

Organic revenue growth was 12.6%.

Diluted net income per share increased to $0.83.

Adjusted diluted net income per share increased to $0.84.

Total Revenue
$1.12B
Previous year: $905M
+23.4%
EPS
$0.84
Previous year: $0.78
+7.7%
Organic Revenue growth
12.6%
Previous year: 7.8%
+61.5%
Gross Profit
$545M
Previous year: $446M
+22.3%
Cash and Equivalents
$564M
Previous year: $1.69B
-66.7%
Free Cash Flow
$48M
Previous year: $93.6M
-48.7%
Total Assets
$13.4B
Previous year: $11.3B
+18.9%

Brown & Brown

Brown & Brown

Brown & Brown Revenue by Segment

Forward Guidance

This press release may contain certain statements relating to future results which are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created by those laws.

Revenue & Expenses

Visualization of income flow from segment revenue to net income