Brown & Brown is reporting revenues of $839.7 million in its Q2 22 results.
The firm said that this included a $112.4 million (15.5%) increase compared to Q2 21. Income before income taxes was $198.8 million, increasing 6.7% from the second quarter of the prior year with Income Before Income Taxes Margin decreasing to 23.7% from 25.6% in the second quarter of the prior year.
At the same time, EBITDAC – Adjusted was $274.7 million, increasing 16.9% from the second quarter of the prior year with EBITDAC Margin – Adjusted increasing to 32.7% from 32.4% from the prior year.
The firm also reported net income of $145.2 million, a $5.9 million increase (4.2%) compared to Q2 21.
In addition, diluted net income per share increased to $0.51, or 4..1% compared to the same period from the prior year. And diluted net income per share – Adjusted increased to $0.51, or 6.3%, as compared to the second quarter of the prior year.
J. Powell Brown, President and Chief Executive Officer of the Company, said: “We had an exceptional quarter growing 10.3% organically and profitably. We also completed our acquisition of GRP on July 1st.”
It was previously reported that Global Risk Partners (GRP) will operate within the Brown & Brown retail segment, and will continue to be led by Mike Bruce – global Chief Executive Officer of GRP.
