Brown and Brown's revenue rose 30 percent in the quarter, and the part of it that came from the business it already owned went backwards
Thirty and a bit percent. That is how much bigger Brown & Brown got in the quarter, and almost none of it came from the business it already had.
The Daytona Beach insurance broker reported second quarter revenues of $1.7 billion on Monday after the close, an increase of $391 million on the same quarter last year. Commissions and fees went from $1,249 million to $1,654 million. Net income attributable to the company was $288 million, up 24.7 percent, and diluted net income per share was $0.84 against $0.78.
Then there is the other measure, which the company puts in its own headline. Organic Revenue, which counts only the revenue sources that were part of the business in both periods, decreased 0.7 percent. Organic Revenue with Contingents, which adds back the profit-sharing commissions carriers pay when a book performs, increased 0.7 percent. Brown & Brown discloses both, defines both, and uses Organic Revenue growth as a metric in its executive incentive plans, which is a reason to read the definition rather than the direction.
The gap between the two figures has a name in the filings. Brown & Brown closed its acquisition of RSC Topco, Inc., which it calls Accession, and the release carries a full run of acquisition and integration costs against it: regulatory filings, professional services, bridge financing fees, systems migration, severance and retention. A footnote to the prior-year comparison mentions roughly $13 million of interest income earned in the second quarter of 2025 on the proceeds of the stock offering and note issuance raised in June 2025 to fund that deal.
Margins narrowed on both measures the company reports. Income before income taxes was $383 million, up 23.2 percent in dollars, at 22.9 percent of revenue against 24.2 percent a year earlier. Adjusted EBITDAC was $598 million, up 27.0 percent, at 35.7 percent against 36.7 percent.
The six-month figures make the same point more sharply. Revenues rose 33.0 percent to $3.6 billion and net income rose 26.8 percent to $714 million, while diluted net income per share fell 1.6 percent, to $1.90, because there are more shares. The adjusted per-share figure rose 6.0 percent to $2.46.
J. Powell Brown, the president and chief executive, said the company is pleased with the quarter and has momentum heading into the back half of the year. The release describes the figures as preliminary and unaudited, and lists the possibility that they change on finalisation among its risk factors.
