由于核心佣金和费用大幅下降，Brown & Brown第二季度盈利下滑，Q/Q回落

Brown & Brown (NYSE:BRO) stock gained 2% in Monday after-hours trading after the insurance broker turned in Q2 earnings that exceeded Wall Street expectations but fell sequentially as core commissions and fees pulled back.

Q2 adjusted EPS of $0.93, surpassing the $0.88 consensus, drifted down from $1.14 in the previous quarter and rose from $0.79 a year before.

Q2 revenue of $1.18B, falling short of the $1.14B average analyst estimate, fell from $1.26B in Q1 and advanced from $1.05B in the year-earlier quarter.

Core commissions and fees earned retreated to $1.12B from $1.19B in Q1 and increased from $1.00B in Q2 of last year.

Adjusted EBITDAC of $420M slumped from $466M in the prior three-month period and rose from $358M in Q2 2023.

Total expenses came in at $832M, down from $894M in Q1 and up from $793M in Q2 2023.

Conference call on July 23 at 8:00 a.m. ET.