Brown & Brown (BRO) Revenue — Quarter Ended Sep 30, 2024
Brown & Brown, Inc. reported a year-over-year revenue increase for the quarter ended September 30, 2024. The performance was supported by growth in core commissions and fees, as well as higher investment income.
Key takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Brown & Brown, Inc. reported a year-over-year revenue increase for the quarter ended September 30, 2024. The performance was supported by growth in core commissions and fees, as well as higher investment income.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.2B
Revenue reported for this quarter.
Quarter-over-quarter
+0.7%
Change from the immediately preceding quarter.
Year-over-year
+11.0%
Change from the comparable year-ago quarter.
Trailing four quarters
$4.6B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2023 | $1B | +13.9% |
| Mar 31, 2024 | $1.3B | +12.7% |
| Jun 30, 2024 | $1.2B | +12.5% |
| Sep 30, 2024 | $1.2B | +11.0% |
Revenue performance
Revenue rose compared to the same quarter one year earlier, driven by higher core commissions and fees and a significant increase in investment income. Profit-sharing contingent commissions were unchanged versus the prior-year quarter.
Quarterly comparison
Revenue increased modestly relative to the immediately preceding quarter. Compared to the same quarter one year ago, total revenue was significantly higher, with core commissions and fees also showing solid growth.
What to watch
Employee compensation and benefits expense grew faster than total revenue year over year, which could pressure margins if the trend continues.