DAYTONA BEACH, Fla. (AP) — DAYTONA BEACH, Fla. (AP) — Brown & Brown Inc. (BRO) on Monday reported fourth-quarter profit of $264 million.
On a per-share basis, the Daytona Beach, Florida-based company said it had profit of 59 cents. Earnings, adjusted for non-recurring costs, came to 93 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.
The insurance company posted revenue of $1.61 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $1.64 billion.
For the year, the company reported profit of $1.05 billion, or $3.16 per share. Revenue was reported as $5.9 billion.
Brown & Brown shares have fallen slightly since the beginning of the year. In the final minutes of trading on Monday, shares hit $79.62, a decline of 25% 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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