Equity Profile

BRO

Brown & Brown, Inc.

FinancialsInsurance Brokers$24.0B

Jul27Mon

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Brown & Brown, Inc. is a leading insurance brokerage firm that provides a wide range of insurance products and services....

Key Metrics to Watch

EPS Growth

Earnings per share (EPS) growth is a key indicator of the company's profitability and operational efficiency.

N/A

Revenue Performance

Revenue growth reflects the company's ability to attract and retain clients in a competitive insurance market.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

BRO Q2-2026 Earnings Preview

Context

Company Snapshot

Brown & Brown, Inc. is a leading insurance brokerage firm that provides a wide range of insurance products and services. Operating in the financial sector, the company plays a crucial role in helping individuals and businesses manage risk through insurance solutions.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+5.70%

Avg Stock Reaction

+0.26%

Last Quarter Recap

In Q1 2026, Brown & Brown reported an EPS of $1.39, slightly exceeding expectations. The stock saw a modest increase of 0.33% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic about Brown & Brown's upcoming earnings, given its strong track record of beating EPS estimates. However, the lack of specific guidance adds uncertainty.

Bull Case

If Brown & Brown continues its trend of beating EPS estimates, it could signal strong operational performance and lead to a positive stock reaction.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could raise concerns about its growth potential and negatively impact the stock.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

EPS is a critical measure of profitability, and any significant deviation from expectations could impact investor sentiment.

How has the client retention rate changed compared to previous quarters?

Understanding client retention is vital for assessing the company's long-term revenue stability and growth potential.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Brown & Brown's ability to maintain high client retention rates, which could lead to stronger-than-expected revenue growth.

Supporting Evidence

Brown & Brown has consistently beaten EPS estimates in the past, suggesting strong operational performance.

The options market is pricing in an 8.67% move, indicating expectations of volatility that may not align with historical performance.

The company's focus on expanding its service offerings could enhance client retention and attract new customers.

Key Risk

If client retention rates show significant improvement, it could challenge the current cautious outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on the company's ability to sustain its earnings momentum and client relationships.

Bull Confirmed If

An EPS of $1.45 or higher would confirm the bull case, indicating strong earnings growth.

Bear Confirmed If

An EPS below $1.30 would support the bear case, suggesting potential challenges in maintaining profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±8.67%

Historical Avg

±0.7%

Pricing rich

The options market is pricing in a significant move, indicating that traders expect volatility around the earnings announcement.

Options are pricing ±8.7% while BRO has averaged ±0.7% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.4%

30d HV

31.7%

Calls (4K)P/C Ratio: 0.53Puts (9K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Financials

n=30

Fade rate: 12 of 25 (48%)

This setup has occurred 30 times across Financials in the last 2 years. 12 of 25 faded and 13 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 2.4%, with a raw directional average of -0.0% (roughly flat historical bias).

Edge

Institutional Ownership

Smart-money positioning from the most recent 13F filings.

Top holders adding

Institutional

83.04%

of float

Insider

13.08%

of float

Holders

1,194

institutions

Top Holders· as of Dec 2025

Vanguard Group Inc
37,634,847 sh · $2.5B
11.06%
0.8%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Brown & Brown beats expectations, history suggests a potential stock increase of around 0.25%, confirming strong operational health.

In-Line / Cautious

If the results are in line with expectations but management provides cautious commentary, the stock may remain flat or see slight fluctuations.

Miss

Should the company miss its earnings target, history indicates a potential decline of around 0.38%, raising concerns about future growth.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on client retention rates and how they compare to previous quarters.
2Details on revenue growth drivers and any new service offerings.
3Management's outlook on market conditions and competitive landscape.
4Insights into operational efficiencies and cost management strategies.
5Any commentary on potential acquisitions or partnerships.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Brown & Brown, Inc. is a leading insurance brokerage firm that provides a wide range of insurance products and services....

Key Metrics to Watch

EPS Growth

Earnings per share (EPS) growth is a key indicator of the company's profitability and operational efficiency.

N/A

Revenue Performance

Revenue growth reflects the company's ability to attract and retain clients in a competitive insurance market.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

BRO Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+5.70%

Avg Stock Reaction

+0.26%

Last Quarter Recap

In Q1 2026, Brown & Brown reported an EPS of $1.39, slightly exceeding expectations. The stock saw a modest increase of 0.33% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic about Brown & Brown's upcoming earnings, given its strong track record of beating EPS estimates. However, the lack of specific guidance adds uncertainty.

Bull Case

If Brown & Brown continues its trend of beating EPS estimates, it could signal strong operational performance and lead to a positive stock reaction.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could raise concerns about its growth potential and negatively impact the stock.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

EPS is a critical measure of profitability, and any significant deviation from expectations could impact investor sentiment.

How has the client retention rate changed compared to previous quarters?

Understanding client retention is vital for assessing the company's long-term revenue stability and growth potential.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Brown & Brown's ability to maintain high client retention rates, which could lead to stronger-than-expected revenue growth.

Supporting Evidence

Brown & Brown has consistently beaten EPS estimates in the past, suggesting strong operational performance.

The options market is pricing in an 8.67% move, indicating expectations of volatility that may not align with historical performance.

The company's focus on expanding its service offerings could enhance client retention and attract new customers.

Key Risk

If client retention rates show significant improvement, it could challenge the current cautious outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on the company's ability to sustain its earnings momentum and client relationships.

Bull Confirmed If

An EPS of $1.45 or higher would confirm the bull case, indicating strong earnings growth.

Bear Confirmed If

An EPS below $1.30 would support the bear case, suggesting potential challenges in maintaining profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±8.67%

Historical Avg

±0.7%

Pricing rich

The options market is pricing in a significant move, indicating that traders expect volatility around the earnings announcement.

Options are pricing ±8.7% while BRO has averaged ±0.7% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.4%

30d HV

31.7%

Calls (4K)P/C Ratio: 0.53Puts (9K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Financials

n=30

Fade rate: 12 of 25 (48%)

Edge

Institutional Ownership

Smart-money positioning from the most recent 13F filings.

Top holders adding

Institutional

83.04%

of float

Insider

13.08%

of float

Holders

1,194

institutions

Top Holders· as of Dec 2025

Vanguard Group Inc
37,634,847 sh · $2.5B
11.06%
0.8%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Brown & Brown beats expectations, history suggests a potential stock increase of around 0.25%, confirming strong operational health.

In-Line / Cautious

If the results are in line with expectations but management provides cautious commentary, the stock may remain flat or see slight fluctuations.

Miss

Should the company miss its earnings target, history indicates a potential decline of around 0.38%, raising concerns about future growth.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on client retention rates and how they compare to previous quarters.
2Details on revenue growth drivers and any new service offerings.
3Management's outlook on market conditions and competitive landscape.
4Insights into operational efficiencies and cost management strategies.
5Any commentary on potential acquisitions or partnerships.