Brown & Brown Q1 2026 earnings and dividend

Brown & Brown, Inc. reported unaudited first-quarter 2026 revenues of $1.9 billion, an increase of $497 million, or 35.4%, compared with the same period a year earlier. The insurance brokerage’s reported revenue was in line with some analyst estimates of $1.89 billion and slightly below another consensus figure of $1.93 billion, reflecting strong top-line expansion with a small variance versus expectations.

Company disclosures showed that organic revenue was flat year on year, while organic revenue with contingents increased 2.2%. This indicates that most of the revenue growth came from factors other than pure organic expansion, such as acquisitions or other items, rather than broad-based underlying volume or pricing gains across the existing business.

Income before income taxes rose to $533 million, up 24.8% from the prior-year quarter. The income before income taxes margin was 28.0%, compared with 30.4% in the first quarter of the prior year, indicating margin compression on this GAAP measure despite the higher absolute profit level.

EBITDAC – Adjusted reached $731 million, up 36.6% year over year. The EBITDAC Margin – Adjusted was 38.5%, compared with 38.1% a year earlier. One analysis noted this represented an 8 percentage point improvement in an adjusted operating-type margin versus the prior-year quarter, highlighting increased efficiency and operating leverage in the adjusted profitability metrics.

Net income attributable to the company was $426 million, an increase of $95 million, or 28.7%, year on year. Cost of sales rose 32.8% to $907 million, and gross profit increased 37.9% to $994 million. Operating profit was reported at $572 million, up 21.4% from the prior-year quarter, underscoring broad profit growth across multiple measures.

Diluted net income per share was $1.06 for the quarter, a decrease of 7.8% compared with the prior-year period. By contrast, Diluted Net Income Per Share – Adjusted increased to $1.39, up 7.8% year over year, reflecting the impact of adjustments between GAAP and non-GAAP earnings presentations.

On a GAAP basis, one data provider reported diluted earnings per share of $1.06, which missed a consensus estimate of $1.38. Another analysis highlighted that the adjusted EPS of $1.39 exceeded analyst expectations of $1.36 by 2.3%. Together, these figures illustrate a quarter in which Brown & Brown delivered strong revenue and adjusted earnings growth, while GAAP per-share results lagged some market forecasts.

Brown & Brown reported cash and cash equivalents of $1.0 billion, an increase of 49.9% year over year. Total liabilities were $17.1 billion, up 72.3% compared with the prior-year quarter. Cash from operating activities was $262 million, an increase of 23.0%, and capital expenditures for property, plant and equipment were $21 million, up 23.5%.

The company’s board of directors declared a regular quarterly cash dividend of $0.165 per share. The dividend is payable on May 20, 2026, to shareholders of record on May 11, 2026. This announcement accompanies the quarterly results and outlines the cash return to shareholders for the period.

President and chief executive officer J. Powell Brown said the company’s teammates "continue to deliver for our customers in a challenging growth environment." The company plans to discuss the first-quarter results on a conference call scheduled for April 28, 2026, at 8:00 a.m. EDT, with an accompanying webcast and slide presentation available via its investor relations website.

In the broader market context, data from one provider indicated Brown & Brown’s market capitalization at $22.38 billion around the time of the release. Analyst coverage tracked by another source showed at least one recent buy rating and a set of price targets with a median of $81.0, while also noting mixed signals between the company’s strong top-line growth and softer GAAP per-share profitability.