Overview

* Brown & Brown ( BRO ) Q3 revenue grows 35.4% yr/yr, beating analyst expectations

* Adjusted EPS for Q3 beats consensus, rising 15.4% yr/yr

* Company welcomes over 5,000 new employees in Q3

Outlook

* Company did not provide specific guidance for future quarters or full year in its press release

Result Drivers

* COMMISSIONS AND FEES - Revenue growth driven by a 34.2% increase in commissions and fees

* ORGANIC REVENUE - Organic revenue grew by 3.5%, contributing to overall revenue increase

* NEW EMPLOYEES - Over 5,000 new employees joined, enhancing global capabilities

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $1.61 $1.52

Revenue bln bln (9

Analysts

)

Q3 Beat $1.05 $0.93

Adjusted (12

EPS Analysts

)

Q3 EPS $0.68

Q3 3.5%

Organic

Revenue

Growth

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the multiline insurance & brokers peer group is "buy."

* Wall Street's median 12-month price target for Brown & Brown Inc ( BRO ) is $106.00, about 17.2% above its October 27 closing price of $87.76

* The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 25 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)