DAYTONA BEACH, Fla. (AP) — DAYTONA BEACH, Fla. (AP) — Brown & Brown Inc. (BRO) on Monday reported first-quarter profit of $293 million.
The Daytona Beach, Florida-based company said it had profit of $1.02 per share. Earnings, adjusted for non-recurring costs, came to $1.14 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.
The insurance company posted revenue of $1.26 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $1.21 billion.
Brown & Brown shares have increased 16% since the beginning of the year. In the final minutes of trading on Monday, shares hit $82.50, an increase of 36% 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
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