Why Brown & Brown Shares Are Trading Higher Today

Brown & Brown, Inc. BRO shares are trading higher after the company reported better-than-expected Q1 adjusted EPS and sales results.

What To Know: On Monday after market closure, Brown & Brown reported its Q1 financial results for the period ending March 31, 2023.

Brown & Brown reported quarterly adjusted earnings of $0.84 per share compared to the analyst estimate of $0.82 per share, representing a 2.44% positive earnings surprise. The company reported quarterly sales of $1.12 billion compared to the analyst estimate of $1.07 billion, representing a 4.3% positive earnings surprise.

Brown & Brown also announced a dividend of $0.115 per share, payable on May 17, 2023.

"The first quarter was an outstanding start to the year, and we delivered good profitable growth," noted J. Powell Brown, president, and chief executive officer of Brown & Brown.

Brown & Brown, Inc. is a leading insurance brokerage firm, delivering risk management solutions to individuals and businesses since 1939. With more than 15,000 teammates in 500+ locations worldwide, we are committed to providing innovative strategies to help protect what our customers value most.

According to data from Benzinga Pro, Brown & Brown shares were up 4.21%, trading at $63.63 at the time of publication. The stock has a 52-week high of $70.55 and a 52-week low of $52.82.