Baldwin Insurance Group (NASDAQ:BWIN – Get Free Report) announced its quarterly earnings results on Monday. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01), FiscalAI reports. Baldwin Insurance Group had a negative net margin of 2.80% and a positive return on equity of 13.67%. The company had revenue of $532.24 million during the quarter, compared to analysts’ expectations of $524.07 million. During the same period last year, the firm earned $0.65 earnings per share. Baldwin Insurance Group’s revenue was up 28.7% on a year-over-year basis.
Here are the key takeaways from Baldwin Insurance Group’s conference call:
- Q1 results — Total revenue of $532 million, adjusted EBITDA of $137 million, and adjusted diluted EPS of $0.63, with reported organic revenue +2% (would be +5% excluding transitory items and +9% including the January partnerships).
- Partnership integration — CAC, Capstone, and Obie are running ahead of plan: CAC revenue grew 27% YoY with $38 million of new business (+39%), about $34 million of cost synergies realized (~80% of the $43M target), and >$10 million of active cross-sell opportunities.
- AI and Catalyst program — Baldwin is deploying a proprietary AI orchestration layer and enterprise AI (e.g., Anthropic Claude) with reported internal productivity gains up to 80% and examples of compressing product launches from months to days to drive operating leverage and margin expansion toward its 3B30 goals.
- Near-term headwinds — Q1 was pressured by Medicare-market disruption, a QBE commission transition, an IAS revenue-recognition procedural change, and a ~30% drop in E&S homeowners revenue (MIS down 5%), though management expects most of these impacts to normalize by end of Q2.
- Capital and tax items — Net leverage is ~4.3x after deploying ~$50M of buybacks (2.2M shares); Q1 saw a ~$145M deferred tax benefit offset by a ~$130M TRA liability (both excluded from adjusted metrics), and adjusted free cash flow was roughly flat with management expecting better conversion later in 2026.
Baldwin Insurance Group Trading Down 3.2%
NASDAQ BWIN opened at $21.27 on Wednesday. The stock has a market capitalization of $3.04 billion, a P/E ratio of -31.74, a P/E/G ratio of 0.85 and a beta of 1.23. Baldwin Insurance Group has a 52-week low of $15.88 and a 52-week high of $45.16. The firm has a 50-day moving average price of $22.01 and a 200 day moving average price of $23.22. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.54.
Analyst Ratings Changes
Read Our Latest Research Report on BWIN
Insider Buying and Selling
In other Baldwin Insurance Group news, major shareholder Elizabeth Krystyn sold 119,987 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $21.25, for a total transaction of $2,549,723.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paul Eugene Sparks acquired 15,200 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was acquired at an average price of $22.10 per share, with a total value of $335,920.00. Following the transaction, the director directly owned 996,706 shares of the company’s stock, valued at $22,027,202.60. This represents a 1.55% increase in their position. The disclosure for this purchase is available in the SEC filing. 20.14% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Orion Porfolio Solutions LLC purchased a new stake in Baldwin Insurance Group during the second quarter worth $961,000. Walleye Capital LLC acquired a new position in shares of Baldwin Insurance Group during the 4th quarter worth $936,000. Twinbeech Capital LP acquired a new position in shares of Baldwin Insurance Group during the 4th quarter worth $908,000. CANADA LIFE ASSURANCE Co boosted its position in shares of Baldwin Insurance Group by 11.0% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 20,452 shares of the company’s stock worth $877,000 after buying an additional 2,025 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Baldwin Insurance Group in the 4th quarter valued at about $781,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.
About Baldwin Insurance Group
Baldwin Insurance Group, Inc (NASDAQ: BWIN) is a specialty insurance and surety firm that underwrites contract bonds, commercial insurance policies and related risk-management services. Its core offerings include contract and commercial surety, which provide performance and payment guarantees to obligees in construction, service and public-sector projects. In addition, the company delivers complementary commercial lines coverages designed to mitigate liability, property and workers’ compensation exposures.
Through a network of regional agency offices primarily across the Midwestern United States, Baldwin Insurance Group serves contractors, developers, small and mid-sized businesses as well as municipal and public-sector clients.
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