Brown & Brown is reporting revenues of $904.7m in its Q1 2022 financial results.
The firm said that this included a $89.4m (11%) increase compared to Q1 2021. Income before income taxes was $265m, increasing 10.8% from the prior year with Income Before Income Taxes Margin remaining consistent with the prior year at 29.3%. EBITDAC – Adjusted was $323.3m, increasing 11.1% from the prior year with EBITDAC Margin – Adjusted remaining consistent with the prior year at 35.7%.
Net income was $220.3 million, increasing $20.6m, or 10.3%, and diluted net income per share increased to $0.77, or 10.0% as compared to the first quarter of the prior year. Diluted Net Income Per Share – Adjusted increased to $0.78, or 11.4%, compared to the first quarter of the prior year.
J. Powell Brown, president and CEO of Brown & Brown, said: “We are very pleased with the strong results achieved for the first quarter of 2022. Our teammates continue to perform at a high level, delivering innovative solutions to our customers.”
In addition, the Company today announced that the Board of Directors has declared a regular quarterly cash dividend of $0.1025 per share. The dividend is payable on May 18, 2022, to shareholders of record on May 9, 2022.
