Mon, Apr 28, 9:07 PM (19 days ago)
**Brown & Brown, Inc. (BRO) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $1.404 billion, up 11.6% YoY. - **Net Income:** $331 million, up 13% YoY. - **EPS:** $1.16 (basic), $1.15 (diluted), up from $1.03 (basic) and $1.02 (diluted) in Q1 2024. - **Profit Margins:** Income before taxes margin at 30.4%, up from 28.9% in Q1 2024. - **Cash Flow:** Net cash provided by operating activities was $213 million, a significant increase from $13 million in Q1 2024. **Segment Performance:** - **Retail:** Revenue up 12.5% to $907 million, driven by net new business and acquisitions. - **Programs:** Revenue up 10.1% to $328 million, with strong organic growth. - **Wholesale Brokerage:** Revenue up 12% to $159 million, with increased written premium and finalization of prior year estimates. **Trends & Uncertainties:** - **Acquisitions:** Completed 13 acquisitions, totaling $67 million in net cash paid. - **Debt:** Total debt at $3.806 billion, with a decrease of $18 million from Q4 2024. - **Dividends:** Paid $43 million in dividends, with a $0.15 per share dividend approved for Q2 2025. - **Market Risks:** Exposure to interest rates, foreign exchange rates, and equity prices, but not considered material. **Future Operations Impact:** - **Growth Strategy:** Continued focus on acquisitions, new business, and customer retention. - **Liquidity:** Strong liquidity profile with access to additional funds if needed. - **Regulatory & Legal:** No material changes in legal proceedings or risk factors. **Notable Changes:** - **Amortization & Depreciation:** Increased due to new intangibles from acquisitions. - **Interest Expense:** Decreased due to lower total debt outstanding. - **Foreign Exchange:** Impacted by changes in currency exchange rates, primarily for British pounds. **Conclusion:** Brown & Brown, Inc. demonstrated strong financial performance in Q1 2025, with significant revenue growth, increased net income, and robust cash flow. The company continues to focus on strategic acquisitions and maintaining a strong liquidity profile while navigating market uncertainties.