DAYTONA BEACH, Fla. (AP) _ Brown & Brown Inc. (BRO) on Monday reported fourth-quarter profit of $101.7 million.
The Daytona Beach, Florida-based company said it had net income of 36 cents per share. Earnings, adjusted for non-recurring costs, were 42 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.
The insurance company posted revenue of $738.5 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $728.3 million.
For the year, the company reported profit of $587.1 million, or $2.07 per share. Revenue was reported as $3.05 billion.
Brown & Brown shares have decreased 8% since the beginning of the year. In the final minutes of trading on Monday, shares hit $64.61, an increase of 36% in the last 12 months.
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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