Brown & Brown Inc

Brown & Brown delivered a strong third quarter, with adjusted diluted EPS of $1.05 beating the $0.93 consensus estimate by 12.92%, while revenue of $1.61 billion topped expectations by 4.36% and <a href="https://247wallst.com/jp-primary-earnings-article/2025/10/27/brown-brown-beats-earnings-sending-shares-higher/">climbed 35.4% year over year</a>. The dominant driver behind that top-line surge was the transformative acquisition of RSC Topco, Inc., known as Accession, which closed during the quarter and contributed $307 million in core commissions and fees alone, swelling the company's workforce by more than 5,000 employees. Adjusted EBITDAC rose 41.8% to $587 million, with the adjusted margin expanding to 36.6% from 34.9%, reflecting the scale benefits of the deal. On a GAAP basis, however, the picture was more complicated; integration and acquisition costs of $50 million, amortization that more than doubled to $93 million, and interest expense reaching $100 million weighed heavily on reported earnings. Institutional investors have taken note, with ownership remaining elevated at roughly 71% amid broad recognition of the company's growth trajectory through 2027.