Brown & Brown Inc
XMUN:BTW
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Brown & Brown Inc
XMUN:BTW
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Earnings Calls
Last Earnings Call
Results: Brown & Brown said second-quarter results were modestly ahead of expectations, with revenue of $1.7 billion, adjusted EPS of $1.07, and a 35.7% adjusted EBITDAC margin.
Organic growth: Retail organic growth improved and specialty distribution was affected by delayed new business revenue, but management said both divisions should improve in the back half of the year.
Pricing: CAT property pricing kept falling 15% to 35%, while casualty stayed firmer and employee benefits faced continued medical and pharmacy cost pressure.
Capital: The company kept buying back stock, generated strong cash flow, and said it will continue balancing repurchases, debt paydown, hiring, technology, and selective M&A.
AI push: Brown & Brown expanded its AI partnerships with Anthropic, McKinsey, and Accenture and said AI should improve productivity, customer outcomes, and eventually growth and margins over time.