Brown & Brown reported total revenues of $1.6 billion for the quarter ended December 31, 2025, representing a 35.7% increase year-over-year driven largely by the Accession acquisition. Organic revenue, which excludes the impact of acquisitions, dispositions and foreign currency translation, declined 2.8% to $1.079 billion compared with $1.110 billion in the prior-year period, reflecting soft market renewal rates in select commercial lines.

Adjusted diluted net income per share for Q4 rose 8.1% to $0.93, surpassing the Zacks Consensus Estimate of $0.91 and up from $0.86 per share a year ago. The company’s EBITDAC—adjusted metric—increased 35.6% to $529 million, while the adjusted EBITDAC margin held steady at 32.9%. Management attributed margin stability to disciplined cost management and integration synergies from recent acquisitions.

For the twelve months ended December 31, 2025, Brown & Brown generated revenues of $5.9 billion, up 22.8% versus 2024, including an organic revenue increase of 2.8%. Adjusted diluted EPS climbed 10.9% to $4.26, driven by a 25.6% rise in adjusted EBITDAC to $2.121 billion and expansion of the adjusted EBITDAC margin to 35.9%. Net income attributable to the company reached $1.054 billion, a 6.1% gain over the prior year.

Ahead of first-quarter guidance, analysts have adjusted their estimates for Brown & Brown’s upcoming results. Wall Street consensus now anticipates Q1 earnings of $0.90 per share and revenue of roughly $1.65 billion, up from previous forecasts of $0.86 and $1.60 billion. Truist Securities and Wells Fargo both trimmed their price targets following slower organic growth data, while JP Morgan initiated coverage with a Neutral rating and a target implying mid-teens upside potential.