The negative organic revenue trend (-0.7%) is a concern for a brokerage relying on organic growth for valuation. Monitor the Q3 2026 earnings call for commentary on organic growth trajectory and the pace of Accession integration. The aggressive share buyback ($500M in H1) provides EPS support but does not fix the underlying organic growth issue.
Price Chart
Executive Summary
Brown & Brown reported Q2 2026 total revenues of $1.676B (+30.4% YoY, driven by the Accession acquisition), but organic revenue declined 0.7% YoY. GAAP diluted EPS of $0.84 beat the prior year's $0.78 (+7.7%), while adjusted diluted EPS of $1.07 was in line with the $1.07 consensus. The core organic growth trend remains negative, offset by acquisition contributions and share buybacks, resulting in a mixed read-through for the stock.
Key Financial Metrics
Key Facts
- Total revenues of $1.676B, +30.4% YoY, driven by the Accession acquisition.
- Organic Revenue declined 0.7% YoY, marking a second consecutive quarter of negative organic growth.
- GAAP diluted EPS of $0.84, +7.7% YoY; Adjusted diluted EPS of $1.07, +3.9% YoY.
- Adjusted diluted EPS of $1.07 matched the consensus estimate of $1.07.
- EBITDAC Margin - Adjusted contracted to 35.7% from 36.7% in the prior year quarter.
- The company repurchased $500M of treasury stock in H1 2026, reducing diluted share count by ~3M shares vs Q2 2025.
Financial Impact
Mixed quarter: revenue growth from acquisitions offsets organic decline; EPS in line with consensus.
Risk Factors
- Continued organic revenue decline could pressure the stock's premium valuation.
- Integration risks and elevated amortization from the large Accession acquisition.
- Margin compression from higher interest expense and acquisition-related costs.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-318245 |
| Document: bro-20260727.htm | 0001193125-26-318245 |
| Document: 0001193125-26-318245-index-headers.html | 0001193125-26-318245 |
| Document: 0001193125-26-318245-index.html | 0001193125-26-318245 |
| Document: 0001193125-26-318245.txt | 0001193125-26-318245 |
| 8-K Data (Synthetic) | 0001193125-26-318245 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 22d ago | 8-K | $66.33 $65.12 | ▼ −1.82% | ▼ −1.33% | $59.91 (−9.68%) |
Aug 21, 2026 6w ago | Institutional Cluster | $72.92 $73.31 | ▲ +0.53% | ▲ +0.06% | $59.91 (−17.84%) |
Aug 10, 2026 7w ago | 8-K | $71.60 $68.83 | ▼ −3.88% | ▼ −3.83% | $59.91 (−16.33%) |
Jul 29, 2026 9w ago | ANALYST-DOWNGRADE | $74.87 $70.95 | ▼ −5.24% | ▼ −10.76% | $59.91 (−19.98%) |
Jul 27, 2026 9w ago | 8-K | $73.65 $71.78 | ▼ −2.54% | ▼ −4.81% | $59.91 (−18.66%) |
Jul 27, 2026 9w ago | Press Release | $73.65 $71.78 | ▼ −2.54% | ▼ −4.81% | $59.91 (−18.66%) |
Jul 6, 2026 12w ago | ANALYST-DOWNGRADE | $68.43 $67.66 | ▼ −1.13% | ▼ −1.61% | $59.91 (−12.45%) |
Jul 1, 2026 13w ago | Press Release | $67.36 $69.27 | ▲ +2.84% | ▲ +2.57% | $59.91 (−11.06%) |
Jun 14, 2026 15w ago | Institutional Cluster | $59.28 $58.24 | ▼ −1.75% | ▼ −0.37% | $59.91 (+1.06%) |
Jun 5, 2026 17w ago | 8-K | $58.00 $59.28 | ▲ +2.21% | ▲ +0.10% | $59.91 (+3.29%) |
US Market Status
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