Filing Flows › Brown & Brown (BRO) › Q2 FY26
Brown & Brown (BRO) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Jul 28, 2025
Brown & Brown (BRO) reported revenue of $1.3B for the second quarter fiscal 2026 (Q2 FY26), +9% from a year earlier and -8% from the quarter before. Operating margin was 24.2%, net earnings $231M (18.0% of revenue).
Brown & Brown, Q2 FY26: revenue $1.3B (+9% year over year), operating margin 24.2%, net earnings $231M, operating cash flow $325M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | -8% | +9% |
| Operating profit | $311M | -27% | -10% |
| Net earnings | $231M | -30% | -10% |
| Operating cash flow | $325M | +53% | -10% |
| Free cash flow | $310M | +58% | -7% |
What changed
Revenue was $1.3B in Q2 FY26, up 9% year over year and down 8% from the previous quarter.
Operating profit was $0.31B, a 24.2% margin (down 5.1 points year over year). Operating profit fell $0.03B even though revenue rose $0.11B versus a year earlier, so costs grew faster than sales. Total costs grew 17% against revenue growth of 9%. Net earnings were $0.23B, down 10% year over year. The effective tax rate was 24.8%.
Operating cash flow was $0.33B (down 10% year over year), 139% of net earnings. Non-cash charges added back $0.01B of depreciation and $0.02B of share-based compensation. Working capital and other items added $0.06B. Capital expenditures of $0.01B left free cash flow of $0.31B.
Questions
What was Brown & Brown's revenue in the second quarter fiscal 2026?
Brown & Brown (BRO) reported revenue of $1.3B for the second quarter fiscal 2026 (Q2 FY26), +9% from a year earlier and -8% from the quarter before.
Was Brown & Brown profitable in the second quarter fiscal 2026?
Operating profit was $311M (24.2% of revenue) and net earnings $231M.
Source: Brown & Brown 10-Q on SEC EDGAR.