Brown & Brown Inc. has reported strong financial results for the first quarter of 2025, with revenue reaching $1.4 billion, an 11.6% increase compared to the same period last year. The company’s income before income taxes was $427 million, up 17.3% from a year ago, with the related margin rising to 30.4% from 28.9%.
Adjusted EBITDAC stood at $535 million, a 14.8% increase from the prior year, with the adjusted margin rising to 38.1% from 37%. Net income attributable to the company reached $331 million, up 13% from the first quarter of 2024. Diluted earnings per share were $1.15, up from $1.02 a year earlier.
“We continue to execute our plan and are pleased with our performance for the quarter,” said J. Powell Brown, president and CEO of Brown & Brown. The company’s total revenue for the quarter included $19 million in investment and other income. Total expenses were $977 million, up from $894 million last year, with $683 million in employee compensation and $186 million in other operating costs.
Commissions and fees totaled $1.385 billion, up from $1.237 billion a year earlier. Organic revenue for the quarter was $1.26 billion, representing $77 million in year-on-year growth. Brown & Brown generated $213 million in cash from operating activities during the quarter.
The company’s financial position remains strong, with total assets of $16.76 billion as of March 31, 2025. Cash and cash equivalents stood at $669 million, and fiduciary cash totaled $1.77 billion. The board of directors has declared a regular quarterly cash dividend of $0.15 per share, payable on May 21, 2025.
