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Brown & Brown sees Q4'16 organic revenue growth of 3.5%

Brown & Brown Inc. reported fourth-quarter 2016 organic revenue growth in core commissions and fees of 3.5%, down from 4.3% growth in the previous quarter.

Net income for the fourth quarter was $57.7 million, or 41 cents per share, compared with $58.1 million, or 41 cents per share, in the year-ago period. Adjusted EPS was 42 cents, up from 38 cents in the fourth quarter of 2015.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was 41 cents.

For the full year, Brown & Brown's organic revenue growth in core commissions and fees was 3.0%. Full-year net income was $257.5 million, or $1.82 per share, up from $243.6 million, or $1.70 per share, in 2015. Adjusted EPS for 2016 was $1.86, up from $1.71 in the previous year.

The S&P Capital IQ consensus normalized EPS estimate for the year was $1.85.