DAYTONA BEACH, Fla. (AP) — DAYTONA BEACH, Fla. (AP) — Brown & Brown Inc. (BRO) on Monday reported third-quarter earnings of $234 million.
On a per-share basis, the Daytona Beach, Florida-based company said it had net income of 81 cents. Earnings, adjusted for non-recurring costs, were 91 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.
The insurance company posted revenue of $1.19 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $1.16 billion.
Brown & Brown shares have climbed 45% since the beginning of the year. In the final minutes of trading on Monday, shares hit $103.35, a rise of 51% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BRO at https://www.zacks.com/ap/BRO
