How did BRO's Q4 earnings surprise impact its annual performance?

**Brown & Brown's (BRO) Q4 earnings surprise had a positive impact on its annual performance**, as evidenced by the following key points:

1. **Q4 Earnings Surprise**: BRO's Q4 earnings exceeded expectations with a net income (FY) surprise of 4.60%. This indicates that the company's performance for the quarter was better than what analysts had anticipated.

|code|Ticker|Name|Date|Net Income (FY) YoY|Net Income (FY)|market_code|
|---|---|---|---|---|---|---|
|BRO|BRO.N|Brown & Brown|2020|20.57292842911416|4.805E8|169|
|BRO|BRO.N|Brown & Brown|2021|22.18522372528616|5.871E8|169|
|BRO|BRO.N|Brown & Brown|2022|14.460909555442003|6.72E8|169|
|BRO|BRO.N|Brown & Brown|2023|29.613095238095237|8.71E8|169|
|BRO|BRO.N|Brown & Brown|2024|15.040183696900113|1.002E9|169|

2. **Annual Performance Implications**:
- **Revenue Growth**: BRO's revenue growth continued throughout the year, with Q3 revenues reaching nearly $1.2 billion, marking an 11% total growth and 9.5% organically over Q3 2023. This strong revenue trend would have contributed significantly to the company's annual performance.
- **Earnings Per Share (EPS) Increase**: The company's adjusted EPS increased by 12.3% to $0.91. This increase, coupled with the earnings surprise, suggests that BRO's annual EPS would have been higher than expected.
- **Acquisitions**: BRO completed four acquisitions with estimated annual revenues of $8 million. These strategic moves would have bolstered the company's financials and contributed to its annual performance.
3. **Analyst Expectations and Market Reaction**: Analysts had projected a quarterly earnings of $0.87 per share, which BRO surpassed with $0.91 per share. This positive surprise likely led to an upward revision of earnings estimates for the upcoming year.
4. **Broader Market Confidence**: The earnings call highlights and the fact that BRO surpassed revenue and earnings estimates suggest that the company's management is executing effectively. This confidence could lead to increased investor optimism and potentially higher stock prices, which would reflect positively on the company's annual performance metrics.

In conclusion, BRO's Q4 earnings surprise had a favorable impact on its annual performance, contributing to strong revenue growth, increased earnings per share, and positive market sentiment.