Brown & Brown said it inadvertently released third-quarter earnings information yesterday that was not complete and halted trading of its stock in the afternoon.
The Daytona Beach, Fla.-based insurance broker issued a statement late yesterday saying that the third-quarter information that was released early in the afternoon was not complete and had not been reviewed by the company’s audit committee or auditors.
Brown & Brown said it contacted the New York Stock Exchange to halt trading after the release of the information until it issued a press release.
The company said the information that was inadvertently released said the insurance broker’s third-quarter earnings came in at 29 cents per share. The information, Brown & Brown said, was only preliminary and is still subject to change.
At 29 cents a share, the results would be in line with financial analysts’ estimates.
Brown & Brown said it plans to release its actual results on Monday after the close of the market.
The broker’s shares closed on the day, yesterday, down $2.20 from its opening to $18.84 a share.