DAYTONA BEACH, Fla. (AP) _ Brown & Brown Inc. (BRO) on Monday reported fourth-quarter net income of $97.3 million.
The Daytona Beach, Florida-based company said it had net income of 34 cents per share. Earnings, adjusted for non-recurring gains, were 32 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The insurance company posted revenue of $642.1 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $619.7 million.
For the year, the company reported profit of $480.5 million, or $1.69 per share. Revenue was reported as $2.61 billion.
Brown & Brown shares have climbed nearly 1% since the beginning of the year. In the final minutes of trading on Monday, shares hit $47.73, a climb of 14% in the last 12 months.