Brown & Brown Posts Higher Q3 Profit

(RTTNews) - Brown & Brown, Inc. (BRO) reported net income for the third quarter of $57.7 million or $0.39 per share, compared to $49.5 million or $0.34 per share for the year-ago quarter.

J. Powell Brown, President and Chief Executive Officer of Brown & Brown, said, "The third quarter wrapped up with $0.39 earnings per share, however one-time, non-recurring acquisition-related expenses accounted for $0.01 per share."

Total revenue for the third quarter rose 18.3% to $359.31 million from $303.80 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.40 per share on revenue of $348.85 million for the third quarter.