NYSE$BRO

Brown & Brown Inc · Q1 2021 earnings

Q1 2021 earnings · · Investor relations

Briefing

Brown & Brown's Q1 2021 financial performance was strong, marked by revenue growth and increased profitability.

Brown & Brown reported a strong first quarter in 2021, with revenues increasing by 16.7% to $815.3 million. Net income also saw a significant rise, increasing by 31.0% to $199.7 million, with diluted net income per share reaching $0.70.

  • Revenues increased by 16.7% to $815.3 million compared to the first quarter of the prior year.
  • Net income increased by 31.0% to $199.7 million compared to the first quarter of the prior year.
  • Diluted net income per share increased to $0.70, a 29.6% increase compared to the first quarter of the prior year.
  • Organic Revenue increased by 9.8%.

Headline financials

Total Revenue

$815M

Previous: $698M+16.7%
EPS (adj)

$0.70

Previous: $0.51+37.3%
Organic Revenue Growth

9.8%

Previous: 5.6%+75.0%
Capital Expenditures

-$11.4M

Previous: -$16.5M+30.6%
Free Cash Flow

$188M

Previous: $136M+38.5%
Net Income

$200M

Previous: $152M+31.1%
Operating Income

$239M

Previous: $205M+16.5%
Gross Profit

$815M

Previous: $698M+16.7%
Cash & Equivalents

$679M

Previous: $386M+75.9%
Total Assets

$8.91B

Previous: $7.58B+17.5%
Stock-Based Comp

$18.7M

Previous: $9.05M+106.7%

Revenue & EPS history

Brown & Brown · Revenue · Quarterly

$815M

Q1 2021+16.7%vs Q1 2020
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

Brown & Brown · $814M total across 2 segments · Q1 2021

  • Commissions & Fees
    $814M+16.9%
  • Investment & Other
    $300K-75.0%

Forward guidance

This press release may contain certain statements relating to future results which are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created by those laws.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2021

Historical avgQ1 2021

-0.4%

Avg return

Earnings day

-0.6%

Avg return

5 days after

+1.8%

Avg return

30 days after

47%

32 / 68 earnings

Positive

+6.7%

Q4 2019

Best reaction

-10.5%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.5%-12.8%-15.0%
Q4 2025-5.8%-9.4%-10.6%
Q3 2025-6.1%-9.1%-8.3%
Q2 2025+0.2%+1.7%-1.7%
Q1 2025-6.0%-3.8%-2.8%
Q4 2024-2.6%-2.9%+8.0%
Q3 2024+1.0%+0.2%+8.9%
Q2 2024+6.0%+7.3%+11.9%
Q1 2024+0.9%-0.9%+10.9%
Q4 2023+5.5%+1.1%+4.0%
Q3 2023+3.8%+0.7%+11.0%
Q2 2023+1.8%-0.9%+2.4%
Q1 2023+2.6%+4.9%+2.8%
Q4 2022-4.9%-6.7%-8.5%
Q3 2022-10.5%-4.7%-4.7%
Q2 2022-0.5%+5.1%+5.5%
Q1 2022-3.0%-8.5%-17.1%
Q4 2021+2.0%+2.0%+1.7%
Q3 2021-3.9%-5.1%-0.2%
Q2 2021+0.8%+0.1%+6.5%
Q1 2021+2.8%+5.3%+2.3%
Q4 2020-3.8%-9.3%+0.6%
Q3 2020-3.2%-6.9%-1.8%
Q2 2020-2.0%+0.2%+0.6%
Q1 2020+2.4%+0.9%+15.0%
Q4 2019+6.7%+7.3%+10.5%
Q3 2019+3.8%+4.6%+5.6%
Q2 2019+2.5%+4.9%+3.9%
Q1 2019+3.3%+3.6%+4.8%
Q4 2018-5.1%-1.2%+4.0%
Q3 2018-2.9%-3.2%-2.0%
Q2 2018-2.4%-1.3%+1.9%
Q1 2018+1.7%+6.9%+7.5%
Q4 2017-0.8%+2.4%+0.0%
Q3 2017-0.8%-0.1%+1.1%
Q2 2017-0.6%+1.8%+1.7%
Q1 2017+2.5%+2.9%+1.3%
Q4 2016-1.3%-1.3%-1.5%
Q3 2016+0.4%-2.4%+13.0%
Q2 2016+3.8%+2.9%+0.9%
Q1 2016-2.9%
Q4 2015+1.1%
Q3 2015-0.6%
Q2 2015-3.8%
Q1 2015-0.4%
Q4 2014-0.8%
Q3 2014-0.9%
Q2 2014+3.9%
Q1 2014-4.0%
Q4 2013-10.2%
Q3 2013-2.0%
Q2 2013-0.5%
Q1 2013-1.2%
Q4 2012+6.0%
Q3 2012-2.2%
Q2 2012-1.9%
Q1 2012+0.6%
Q4 2011+1.3%
Q3 2011-2.1%
Q2 2011+0.9%
Q1 2010+0.0%
Q1 2011+2.6%
Q4 2008-3.1%
Q3 2010+0.3%
Q3 2009+0.3%
Q2 2010+0.9%
Q2 2009+0.9%
Q4 2009+0.9%

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