Brown & Brown, Inc. (BRO) Earnings Call Transcripts
Brown & Brown, Inc.'s Latest Earnings Call - Q2 FY2026
In the second quarter of 2026, Brown & Brown, Inc. (BRO:US) reported revenues of $1.7 billion, reflecting a robust growth of 30.4% year-over-year. Adjusted earnings per share increased nearly 4% to $1.07, slightly exceeding management's expectations despite ongoing pressure from declining CAT property rates. Management maintained its guidance for organic growth, projecting retail organic growth (excluding contingents) in the range of 1.5% to 2.5% and specialty distribution organic growth between 2% and 4% for the second half of the year, signaling confidence in future performance.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $1.7B (beat) |
| EPS | $1.07 (beat) |
| EBITDAC Margin | 35.7% (negative) |
| Organic Revenue Growth (Retail) | 2.5% (positive) |
| Organic Revenue Growth (Specialty Distribution) | -1.6% (negative) |
| Cash Flow from Operations | $610M (positive) |
Guidance from management
Management expects organic growth to improve in both divisions, projecting retail organic growth (excluding contingents) of 1.5% to 2.5% and specialty distribution organic growth of 2% to 4% for the second half of 2026. Guidance was maintained, reflecting confidence in operational capabilities.
What management said
Sure. Yes, Mike, our comment there was -- that was really a onetime item associated with earnouts that we carried over at the time of the acquisition. So we don't see that same level of impact to what the cash flow going forward. We still think the overall business itself will run in that 24% to 27% on a cash flow conversion over the long term. We feel really good about it. the organization does have a lower cash flo...
Okay. So I'm going to answer part of that, and I'm going to let Andy answer part of that. So remember, CAT property typically is in the E&S market. And as a result, it is not subject to a profit sharing or contingency. Having said that, Andy, would you like to address Greg's assessment of how the rest of the works.
What analysts pressed on
Analysts expressed concerns regarding the pressure on CAT property rates and the potential impact on future contingent commissions. There were also questions about the integration of Accession and its effect on overall performance metrics, particularly in light of competitive pressures in the market.
Main topics on the call
- Strong Revenue Growth — Brown & Brown achieved total revenues of $1.7 billion, up 30.4% from the previous year, driven by strong contingent commissions and improved underwriting profitability. Management noted, "This performance reflects the ef...
- Organic Growth Metrics — Organic revenue growth decreased by 70 basis points year-over-year, but increased by 70 basis points when including contingent commissions. Management stated, "We view this as a good result given the second quarter is th...
- Acquisition and Integration of Accession — The integration of Accession contributed approximately $410 million in revenues for the quarter, with margins in line with expectations. Management emphasized the importance of strategic acquisitions, stating, "We are lo...
- Pressure on CAT Property Rates — Management noted continued downward pressure on CAT property rates, which decreased by 15% to 35%. They acknowledged, "There continues to be a significant amount of capital seeking to underwrite risk with supply exceedin...
Read the full Brown & Brown, Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Brown & Brown, Inc.
Brown & Brown, Inc. (BRO) is a publicly listed company in the Insurance industry, within the Financials sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 35 calls on record spanning January 28, 2020 to July 28, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 35 Brown & Brown, Inc. earnings call transcripts on record, spanning January 28, 2020 to July 28, 2026. Based on this history, Brown & Brown, Inc. reports quarterly. The most recent call on file is dated July 28, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- BRO
- Exchange
- NYSE
- Country
- US
- Sector
- Financials
- Industry
- Insurance
- Calls on record
- 35
- First call
- January 28, 2020
- Most recent
- July 28, 2026
- Reporting cadence
- quarterly