Brown & Brown Organic Revenue Turns Positive After Two Weak Quarters

The Tip Desk · October 27, 2026 · 3 min read

Total revenues were $1.7 billion, up 7.4%, as Organic Revenue growth reached 1.2% after a second-quarter decline.

Brown & Brown, Inc. (BRO), the insurance brokerage firm, reported total revenues of $1.7 billion for the third quarter ended September 30, 2026, up 7.4% from a year earlier. That year-over-year increase slowed from 30.4% in the second quarter and 35.4% in the first quarter, as the contribution from acquisitions receded.

Organic Revenue growth turned positive at 1.2%, after a 0.7% decline in the second quarter and 0.0% in the first quarter. Organic Revenue with Contingents grew 1.5%.

Commissions and fees were $1,700 million, versus $1,550 million a year earlier. Acquisitions contributed $156 million of the $119 million total-revenue increase, after $393 million in the second quarter and $435 million in the first quarter. Litigation-Related Impact reduced Organic Revenue by $16 million. Investment and other income was $25 million, versus $56 million a year earlier.

Income before income taxes was $320 million, up 2.9%, with Income Before Income Taxes Margin of 18.6%, compared with 19.4% in the third quarter of the prior year. EBITDAC - Adjusted was $597 million, up 1.7%, with EBITDAC Margin - Adjusted of 34.6%, compared with 36.6% a year earlier. Net income attributable to the company was $240 million, up 5.7%.

Diluted net income per share was $0.67, down 1.5%. Diluted Net Income Per Share - Adjusted was $1.07, up 1.9%, matching the second-quarter adjusted level. The adjusted figure excluded the after-tax impact of amortization of $0.25 per share and acquisition and integration costs of $0.09 per share, among other items.

Employee compensation and benefits were $857 million and other operating expenses $307 million, versus $793 million and $276 million a year earlier. Interest expense was $100 million in both periods.

President and chief executive officer J. Powell Brown said the quarter reflected teammates winning more customers in a challenging rate environment and that capabilities were enhanced by the addition of approximately 5,000 new teammates from Accession, just over a year ago.

For the nine months ended September 30, 2026, total revenues were $5.3 billion, up 23.4%, with Organic Revenue growth of 0.3% and Organic Revenue with Contingents growth of 1.5%. Income before income taxes was $1.2 billion, up 17.6%, with a margin of 23.3%. Net income attributable to the company was $954 million, up 20.8%. Diluted net income per share was $2.57, flat, and Diluted Net Income Per Share - Adjusted was $3.52, up 5.7%.

Cash and cash equivalents were $1,099 million at September 30, 2026. Long-term debt less unamortized discount and debt issuance costs was $7,346 million. For the nine months, the company reported $750 million of treasury stock purchases, versus none in the same 2025 period, and cash dividends paid of $169 million.