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Mar 31, 2024
Brown & Brown Q1 2024 Earnings Report
Brown & Brown reported strong Q1 2024 results, marked by revenue growth and margin expansion.
Key Takeaways
Brown & Brown, Inc. announced its Q1 2024 financial results, featuring a 12.7% increase in total revenues to $1,258 million and an 8.6% organic revenue growth. The company's diluted net income per share increased to $1.02, with an adjusted diluted net income per share of $1.14. The Board of Directors has declared a regular quarterly cash dividend of $0.13 per share.
Total revenues increased by 12.7% to $1,258 million.
Organic revenue growth was 8.6%.
Diluted net income per share rose to $1.02.
Adjusted diluted net income per share was $1.14.
Brown & Brown
Brown & Brown
Brown & Brown Revenue by Segment
Revenue by Segment
Commissions and Fees Revenue
CapyFin.comInvestment and Other Income Revenue
CapyFin.com Forward Guidance
This press release contains forward-looking statements regarding future results, which are subject to various risks and uncertainties. Actual results may differ materially from those expressed in the forward-looking statements due to factors such as the inability to retain qualified employees, cybersecurity attacks, acquisition-related risks, risks related to international operations, the loss of insurance company relationships, the effects of natural disasters, adverse economic conditions, and regulatory changes.
Positive Outlook
- Company is delivering risk management solutions to individuals and businesses since 1939.
- Company has over 16,000 teammates and 500+ locations worldwide.
- Company is committed to providing innovative strategies to help protect what our customers value most.
- Company uses Organic Revenue growth, Diluted Net Income Per Share - Adjusted and EBITDAC Margin - Adjusted as key performance metrics for our short-term and long-term incentive compensation plans for executive officers and other key employees.
- Company no longer excludes Foreign Currency Translation from the calculation of EBITDAC - Adjusted, EBITDAC Margin - Adjusted and Diluted Net Income Per Share - Adjusted.
Challenges Ahead
- The inability to hire, retain and develop qualified employees, as well as the loss of any of our executive officers or other key employees.
- A cybersecurity attack or any other interruption in information technology and/or data security that may impact our operations or the operations of third parties that support us.
- Acquisition-related risks that could negatively affect the success of our growth strategy, including the possibility that we may not be able to successfully identify suitable acquisition candidates, complete acquisitions, successfully integrate acquired businesses into our operations and expand into new markets.
- Risks related to our international operations, which may result in additional risks or require more management time and expense than our domestic operations to achieve or maintain profitability.
- The requirement for additional resources and time to adequately respond to dynamics resulting from rapid technological change.
Revenue & Expenses
Visualization of income flow from segment revenue to net income