LONDON, UK / ACCESSWIRE / July 19, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Brown & Brown, Inc. (NYSE: BRO), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=BRO, following the Company's announcement of its second quarter fiscal 2017 earnings results on July 17, 2017. The insurance Company reported a 4.4% increase in revenue while adjusted earnings remained unchanged. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Earnings Reviewed

Brown & Brown's revenues for the second quarter of 2017 were $466.3 million, up 4.4%, compared to revenue of $446.5 million in Q2 2016. The Company's Commissions and fees grew by 4.3% to $464.7 million, while organic revenue rose 1.6% to $441.9 million. Brown & Brown's revenue numbers exceeded analysts' expectations of $465.1 million

Brown & Brown's revenues for the six months ended June 30, 2017, under GAAP were $931.4 million, growing 7.0% on a y-o-y basis, with commissions and fees increasing by 4.8% and organic revenue gaining 2.5%.

Brown & Brown's income before income taxes for Q2 2017 was $108.0 million, reflecting a drop of 0.9%, compared to $109.0 million in Q2 2016. The Company's income before income taxes margin decreased from 24.4% to 23.2% in the prior year's comparable quarter. Brown & Brown's EBITDAC(defined as income before interest, income taxes, depreciation, amortization and the change in estimated acquisition earn-out payables) for Q2 2017 was $150.6 million, growing 0.5%, compared to EBITDAC of $149.8 million in Q2 2016. The Company's EBITDAC Margin decreased from 33.5% in the prior year's same quarter to 32.3% in the quarter under review.

For Q2 2017, Brown & Brown's net income totaled $66.1 million compared to net income of $66.2 million in Q2 2016. On a per share basis, the Company recorded earnings of $0.46, decreasing by 2.1%, compared to $0.47 per share in the prior year's same quarter. On an adjusted basis, Brown & Brown' reported diluted earnings per share of $0.49, unchanged from the prior year's same quarter. The Company's earnings numbers surpassed Wall Street's expectations of $0.47 per share.

Net income was $136.2 million, increasing by 6.2%, and diluted earnings per share for the six months ended June 30, 2017, were $0.96, an increase of $0.05, or 5.5%, compared to the first six months of 2016. Diluted earnings per share - adjusted were $0.92, decreasing by 1.1% compared to the first six months of 2016.

J. Powell Brown, the Company's President and Chief Executive Officer noted:

"We are pleased with our quarterly results and year-to-date performance. We would like to thank all our existing teammates and new teammates that joined us during the quarter for their efforts and dedication."

Cash Matters

As of June 30, 2017, Brown & Brown had cash and cash equivalents worth $600.3 million compared to $515.7 million as on December 31, 2016. The Company had long-term debt of $965.4 million at the end of the reported quarter compared to $1.02 billion at the end of Q4 FY16.

On July 13, 2017, Brown & Brown announced that its Board of Directors has declared a regular quarterly cash dividend of $0.1350 per share. The dividend is payable on August 16, 2017, to shareholders of record on August 09, 2017.

Stock Performance

Brown & Brown's share price finished yesterday's trading session at $43.03, slightly up 0.05%. A total volume of 1.16 million shares have exchanged hands, which was higher than the 3-month average volume of 524.64 thousand shares. The Company's stock price surged 1.65% in the last three months and 19.86% in the previous twelve months. Shares of the Company have a PE ratio of 23.00 and have a dividend yield of 1.25%. The stock currently has a market cap of $6.01 billion.

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SOURCE: Pro-Trader Daily