Brown & Brown Q3 revenue up 20.4% to $927.6M; adj. EPS down 13.8% on Hurricane Ian costs

BROWN & BROWN, INC.

2022-Q3 EPS reported $1.85 revenue$2,672,000,000

Diluted EPS of $0.57; adjusted EPS of $0.50 (down 13.8% YoY) due to ~$15M profit-sharing hit and ~$11.5M captive losses from Hurricane Ian.
Organic revenue growth of 6.7%; commissions and fees up 20.2% driven by acquisitions including GRP & BdB.
International operations now deliver ~12% of total revenues; company welcomed over 2,500 new teammates from GRP & BdB.
EBITDAC - Adjusted margin fell to 31.2% from 35.6% a year ago; income before tax margin dropped to 23.5% from 25.5%.
Nine-month diluted EPS rose 8.2% to $1.85; adjusted EPS up 2.3% to $1.79.

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