DAYTONA BEACH, Fla. (AP) — DAYTONA BEACH, Fla. (AP) — Brown & Brown Inc. (BRO) on Monday reported second-quarter earnings of $288 million.
The Daytona Beach, Florida-based company said it had profit of 84 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.07 per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.
The insurance company posted revenue of $1.68 billion in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $1.72 billion.
Brown & Brown shares have dropped 13% since the beginning of the year. In the final minutes of trading on Monday, shares hit $69.70, a decline of 33% 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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