Brown & Brown, Inc. reported robust third-quarter results, with revenues growing 35.4% year-over-year and adjusted earnings per share increasing by 15% to $1.05. Strategic leadership appointments and a significant share repurchase program signal continued commitment to long-term growth and value creation.
- Revenues reached $1.6 billion, driven by strong organic growth of 3.5%, despite a challenging economic environment.
- Adjusted EBITDAC margin improved by 170 basis points to 36.6%, highlighting operational efficiency.
- The board approved a 10% dividend increase and expanded share repurchase authorization to $1.5 billion as part of its commitment to enhance shareholder value.
- Seven acquisitions were completed, contributing an estimated $1.7 billion in annual revenues, underscoring the company's proactive growth strategy.
- The company remains focused on addressing rising health care costs and maintaining competitive pricing in various insurance segments.
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