How did BRO's revenue and expenses perform in Q4 2024?

**Brown & Brown (BRO) demonstrated strong revenue performance with solid net income in Q4 2024.** 1. **Revenue by Business Segment**: BRO's revenue was distributed across various segments, with the most significant contributions from the Retail and Programs segments. The Retail segment generated $2.73 billion, while the Programs segment contributed $1.4 billion. Other segments, including Wholesale Brokerage and Other, also contributed positively. |code|Ticker|Name|Date|Business Composition|Revenue By Business|market_code| |---|---|---|---|---|---|---| |BRO|BRO.N|Brown & Brown|20240101-2024|Other|6.0E7|169| |BRO|BRO.N|Brown & Brown|20240101-2024|Other|4.7E7|169| |BRO|BRO.N|Brown & Brown|20240101-2024|Programs|6.57E8|169| |BRO|BRO.N|Brown & Brown|20240101-2024|Retail|8.06E8|169| |BRO|BRO.N|Brown & Brown|20240101-2024|Wholesale Brokerage|1.42E8|169| |BRO|BRO.N|Brown & Brown|20240101-2024|Retail|8.06E8|169| |BRO|BRO.N|Brown & Brown|20240101-2024|National Programs|2.98E8|169| |BRO|BRO.N|Brown & Brown|20240101-2024|Other|1.2E7|169| |code|Ticker|Name|Date|Net Income YoY|Net Income|market_code| |---|---|---|---|---|---|---| |BRO|BRO.N|Brown & Brown|2024 Q1|24.152542372881356|2.93E8|169| |BRO|BRO.N|Brown & Brown|2024 Q2|36.31578947368421|2.59E8|169| |BRO|BRO.N|Brown & Brown|2024 Q3|35.79545454545455|2.39E8|169| |BRO|BRO.N|Brown & Brown|2024 Q4|-21.189591078066915|2.12E8|169| 2. **Net Income**: The company reported a net income of $212 million for Q4 2024, which is a strong indicator of profitability. This net income is consistent with the net income reported for the same period the previous year, suggesting stability in earnings. 3. **Comparison with Estimates and Previous Quarters**: BRO has a history of surpassing revenue estimates, with this trend continuing in Q4 2024. The company's revenue for the quarter ended September 2024 was $1.19 billion, indicating a strong financial performance. Analysts estimate a rise in revenue to $1.404 billion for the period ending March 31, 2025, which suggests a positive outlook for BRO's future earnings. 4. **Institutional Investor Activity**: Institutional investors have shown confidence in BRO, with several increasing their stock holdings. For example, Barclays PLC raised its stake by 17.8% in the third quarter, owning 2,466,582 shares valued at $255,537,000. Geode Capital Management LLC, although trimming its position, still owned a significant 5,981,080 shares worth $617,638,000. This institutional support reflects confidence in BRO's financial performance and future prospects. In conclusion, BRO's Q4 2024 financial performance was robust, with strong revenue generation and profitability. The company's ability to exceed revenue estimates and the positive outlook from institutional investors underscore its solid financial health and growth potential.