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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Brown & Brown
Brown & Brown (BRO) investor relations material
Brown & Brown Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary27 Oct, 2026
Executive summary
Q3 revenue was $1.725B, up 7.4%; Organic Revenue grew 1.2% and Organic Revenue with Contingents grew 1.5%. Adjusted diluted EPS rose 1.9% to $1.07.
Net income attributable rose 5.7% to $240M; adjusted EBITDAC margin fell 200 bps to 34.6%.
Nine-month revenue increased 23.4% to $5.302B, with acquisitions contributing materially to growth.
Financial highlights
Adjusted income before taxes rose 1.3% to $479M; adjusted net income attributable rose 0.6% to $356M.
Adjusted EBITDAC increased 1.7% to $597M; adjusted EBITDAC margin declined to 34.6% from 36.6%.
Nine-month operating cash flow was $1.140B, up 13.3%.
Q3 contingents increased 9.6% to $80M, supported by improved carrier underwriting results and premium growth.
Q3 effective tax rate was 25.5%, versus 24.7% in Q3 2025.
Outlook and guidance
Q4 Retail Organic Revenue growth, excluding contingents, is expected at 2%-3%; Specialty Distribution is expected to decline 2%-4%, including $8M-$12M of non-recurring and timing-related headwinds.
Preliminary 2027 Organic Revenue growth outlook, excluding contingents: Retail 2%-4%; Specialty Distribution 1%-3%; both divisions are expected to improve.
Specialty Distribution Q4 YoY contingent commissions are expected to decrease $14M-$16M; some downward pressure is anticipated in 2027.
Q4 adjusted EBITDAC margin is expected to be down YoY; no 2027 margin guidance was given.
2027 operating cash flow conversion is expected to increase from 2026 and trend toward the normal 24%-26% of revenue range.
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Latest events from Brown & Brown
- Q2 2026 revenue up 30.4% to $1.7B, net income up 24.7%, adjusted EPS $1.07.BRO
Q2 2026 - Q1 2026 revenue up 35.4% to $1.9B; net income up 28.7% to $426M; adjusted EPS $1.39.BROQ1 2026
- Director elections, auditor ratification, and stock plan amendment up for vote at May 2026 meeting.BROProxy filing
- Proxy details 2025 growth, governance, and key proposals, including an expanded equity plan.BROProxy filing
- Strong revenue and margin growth driven by Accession, with stable outlook despite higher debt.BROQ4 2025
- $700M acquisition of a leading Dutch broker expands SME reach and boosts European growth.BROM&A Announcement
- Q3 2024 revenue up 11% and net income up 33%, with strong organic growth and margins.BROQ3 2024
- Q2 revenue up 12.5% to $1.2B, with 10% organic growth and net income up 35%.BROQ2 2024
- Q1 2025 revenue up 11.6%, net income up 13%, $0.15 dividend declared.BROQ1 2025
Next Brown & Brown earnings date
Q4 202626 Jan, 2027
Brown & Brown
Next Brown & Brown earnings date
Q4 202626 Jan, 2027
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Frequently asked questions
Brown & Brown Inc is an insurance brokerage firm that provides risk management, insurance, and reinsurance services. The company offers property, casualty, employee benefits, and personal insurance products through a network of independent offices. It serves businesses, public entities, and individuals across the United States. Brown & Brown Inc is headquartered in Daytona Beach, Florida, and its shares are listed on the NYSE.