NASDAQ$BWIN

Baldwin Insurance Group Inc · Q1 2023 earnings

Q1 2023 earnings · · Investor relations

Briefing

BRP Group reported Q1 2023 results, with revenue increasing and organic revenue growth driven by double-digit growth across all segments.

BRP Group's Q1 2023 revenue increased by 36% year-over-year to $330.4 million, with organic revenue growth of 23%. The company reported a GAAP net loss of $25.9 million, but adjusted net income was $49.2 million, or $0.42 per fully diluted share. Adjusted EBITDA grew 8% to $79.0 million.

  • Revenue increased 36% year-over-year to $330.4 million.
  • Organic Revenue Growth was 23% year-over-year.
  • GAAP net loss was $25.9 million, with a loss per share of $0.24.
  • Adjusted EBITDA grew 8% to $79.0 million with a margin of 24%.

Headline financials

Total Revenue

$330M

Previous: $243M+36.1%
EPS (adj)

$0.42

Previous: $0.50-16.0%
Organic Revenue Growth

23.0%

Previous: 16.0%+43.8%
Adjusted EBITDA

$79M

Previous: $72.9M+8.3%
Adjusted EBITDA Margin

24.0%

Previous: 30.0%-20.0%
Capital Expenditures

-$3.5M

Previous: -$1.79M-95.1%
Free Cash Flow

-$17.6M

Previous: $21.1M-183.7%
Net Income

-$14.1M

Previous: $22.9M-161.8%
Operating Income

$3.62M

Previous: $39.7M-90.9%
Gross Profit

$284M

Previous: $206M+37.5%
Cash & Equivalents

$81.3M

Previous: $157M-48.2%
Total Assets

$3.45B

Previous: $2.94B+17.2%
Stock-Based Comp

$13.3M

Previous: $7.56M+75.6%

Revenue & EPS history

Baldwin Insurance · Revenue · Quarterly

$330M

Q1 2023+36.1%vs Q1 2022
Beat estimate in 8 of 14 quarters(57%)
ActualEstimate

Forward guidance

No specific forward guidance was provided in the document.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2023

Historical avgQ1 2023

+0.6%

Avg return

Earnings day

+3.0%

Avg return

5 days after

+6.0%

Avg return

30 days after

57%

16 / 28 earnings

Positive

+25.6%

Q4 2025

Best reaction

-25.4%

Q1 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.3%-8.4%-14.8%
Q4 2025+25.6%+19.3%+14.1%
Q3 2025+10.0%+15.1%+8.9%
Q3 2026+2.8%+19.9%+15.6%
Q2 2025-16.7%-13.4%-12.6%
Q1 2025-4.3%-3.8%-5.6%
Q4 2024+1.8%-1.7%+13.2%
Q3 2024-10.3%+1.7%+8.5%
Q2 2024+3.3%+1.8%+13.0%
Q1 2024+11.8%+6.7%+20.6%
Q4 2023+2.7%+9.8%+6.8%
Q3 2023-11.9%-9.8%-12.0%
Q2 2023-3.6%+0.4%+7.9%
Q1 2023-4.4%-4.8%-5.0%
Q4 2022-3.0%-4.9%-12.1%
Q3 2022+1.7%+6.5%-0.3%
Q2 2022+3.7%+7.7%+10.1%
Q1 2022-25.4%-2.6%+7.3%
Q4 2021-2.2%-4.4%-3.4%
Q3 2021+2.0%+7.0%-0.3%
Q2 2021+17.9%+26.8%+38.1%
Q1 2021-5.9%-6.6%+4.9%
Q4 2020+1.5%+0.1%+6.9%
Q3 2020+5.4%+5.2%-5.8%
Q2 2020+7.6%+4.9%+31.2%
Q1 2020+2.0%+16.5%+47.9%
Q4 2019+11.5%+8.8%-8.1%
Q3 2019-7.1%-14.2%-6.8%
Q2 2019
Q4 2018
Q3 2018

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