DAYTONA BEACH, Fla. (AP) — DAYTONA BEACH, Fla. (AP) — Brown & Brown Inc. (BRO) on Monday reported first-quarter profit of $331 million.
The Daytona Beach, Florida-based company said it had net income of $1.15 per share. Earnings, adjusted for one-time gains and costs, were $1.29 per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.
The insurance company posted revenue of $1.4 billion in the period, which met Street forecasts.
Brown & Brown shares have climbed 13% since the beginning of the year. In the final minutes of trading on Monday, shares hit $114.88, a rise of 41% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BRO at https://www.zacks.com/ap/BRO
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