BRO

EX-99.1

2 bro-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Brown & Brown, Inc. announces third quarter 2026 results,

including total revenues of $1.7 billion, an increase of 7.4%; growth of Organic Revenue of 1.2%; growth of Organic Revenue with Contingents of 1.5%; diluted net income per share of $0.67; and Diluted Net Income Per Share - Adjusted of $1.07

DAYTONA BEACH, Fla., October 26, 2026 - Brown & Brown, Inc. (NYSE:BRO) (the "Company") announced its unaudited financial results for the third quarter of 2026.

For the third quarter ended September 30, 2026, the Company achieved:

• Total revenues of $1.7 billion, increasing $119 million, or 7.4%, compared to the third quarter of the prior year, with growth of Organic Revenue of 1.2% and growth of Organic Revenue with Contingents of 1.5%.

• Income before income taxes of $320 million, increasing 2.9%, with Income Before Income Taxes Margin of 18.6%, compared to 19.4% in the third quarter of the prior year.

• EBITDAC - Adjusted of $597 million, increasing 1.7%, with EBITDAC Margin - Adjusted of 34.6%, compared to 36.6% in the third quarter of the prior year.

• Net income attributable to the Company of $240 million, increasing $13 million, or 5.7%, compared to the third quarter of the prior year.

• Diluted net income per share of $0.67, a decrease of 1.5%, with Diluted Net Income Per Share - Adjusted increasing to $1.07, or 1.9%, each compared to the third quarter of the prior year.

For the nine months ended September 30, 2026, the Company achieved:

• Total revenues of $5.3 billion, increasing $1.0 billion, or 23.4%, compared to the same period in 2025, with growth of Organic Revenue of 0.3% and growth of Organic Revenue with Contingents of 1.5%.

• Income before income taxes of $1.2 billion, increasing 17.6%, with Income Before Income Taxes Margin of 23.3%, compared to 24.4% in the same period in 2025.

• EBITDAC - Adjusted of $1.9 billion, increasing 20.9%, with EBITDAC Margin - Adjusted of 36.3%, compared to 37.1% in the same period in 2025.

• Net income attributable to the Company of $954 million, increasing $164 million, or 20.8%, compared to the same period in 2025.

• Diluted net income per share of $2.57, flat compared to the same period in 2025, with Diluted Net Income Per Share - Adjusted increasing to $3.52, or 5.7%, compared to the same period in 2025.

J. Powell Brown, president and chief executive officer of the Company, noted, “The third quarter reflected the incredible efforts of our teammates to win more customers in spite of a challenging rate environment. Our capabilities were broadly enhanced by the addition of approximately 5,000 new teammates from Accession, just over a year ago.”

1

Reconciliation of Commissions and Fees

to Organic Revenue and Organic Revenue with Contingents

(in millions, unaudited)

Three Months Ended September 30,

Nine Months Ended September 30,

2026

2025

2026

2025

Commissions and fees

$

1,700

$

1,550

$

5,234

$

4,183

Contingents

(80

)

(73

)

(262

)

(161

)

Core commissions and fees

$

1,620

$

1,477

$

4,972

$

4,022

Acquisitions

(156

)

(985

)

Dispositions

(13

)

(20

)

Foreign Currency Translation

(1

)

19

Litigation-Related Impact

(16

)

(44

)

Organic Revenue

$

1,464

$

1,447

$

3,987

$

3,977

Organic Revenue growth

17

10

Organic Revenue growth %

1.2

%

0.3

%

Organic Contingents

$

79

$

73

$

213

$

161

Organic Revenue with Contingents

1,543

1,520

4,200

4,138

Organic Revenue with Contingents growth

$

23

$

62

Organic Revenue with Contingents growth %

1.5

%

1.5

%

See information regarding non-GAAP measures presented later in this press release.

Reconciliation of Diluted Net Income Per Share to

Diluted Net Income Per Share - Adjusted

(unaudited)

Three Months Ended September 30,

Change

Nine Months Ended September 30,

Change

2026

2025

$

%

2026

2025

$

%

Diluted net income per share(1)

$

0.67

$

0.68

$

(0.01

)

(1.5

%)

$

2.57

$

2.57

$

—

(—

%)

Change in estimated acquisition earn-out payables

0.06

0.02

0.04

(0.02

)

0.04

(0.06

)

(Gain)/loss on disposal

—

—

—

—

—

—

Acquisition/Integration Costs

0.09

0.13

(0.04

)

0.21

0.22

(0.01

)

Amortization

0.25

0.20

0.05

0.76

0.48

0.28

Mark-to-market of escrow liability(2)

—

0.02

(0.02

)

—

0.02

(0.02

)

Diluted Net Income Per Share - Adjusted

$

1.07

$

1.05

$

0.02

1.9

%

$

3.52

$

3.33

$

0.19

5.7

%

(1) The calculation of diluted net income per share for the three and nine months ended September 30, 2026 (a) excludes the mark-to-market of escrow liability and (b) includes the escrowed shares within the Company’s diluted weighted average number of shares, in each case in accordance with Accounting Standards Codification Topic 260 — Earnings Per Share (“ASC 260”), which requires this treatment in periods where the combined effect of these adjustments is accretive to earnings.

(2) No adjustment for the mark-to-market o

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