NASDAQ$BWIN

Baldwin Insurance Group Inc · Q1 2024 earnings

Q1 2024 earnings · · Investor relations

Briefing

Baldwin Insurance's Q1 2024 performance was marked by strong revenue growth and improved profitability.

Baldwin Insurance Group reported a strong first quarter in 2024, with a 15% increase in total revenue to $380.4 million. Organic revenue growth was 16%. The company's adjusted EPS grew by 33% to $0.56, and adjusted EBITDA increased by 29% to $101.7 million. Free cash flow also saw significant growth, increasing by 51% year over year to $53.3 million.

  • Total revenue increased by 15% year over year, reaching $380.4 million.
  • Organic revenue growth was strong at 16% year over year.
  • Adjusted diluted EPS increased by 33% year over year to $0.56.
  • Adjusted EBITDA grew by 29% year over year to $101.7 million, with a margin of 27%.

Headline financials

Total Revenue

$380M

Previous: $330M+15.1%
EPS

$0.33

Previous: $0.42-21.4%
Organic Revenue Growth

16.0%

Previous: 23.0%-30.4%
Adjusted EBITDA

$102M

Previous: $79M+28.7%
Adjusted EBITDA Margin

26.7%

Previous: 24.0%+11.2%
Capital Expenditures

-$8.15M

Previous: -$3.5M-132.8%
Free Cash Flow

$13.4M

Previous: -$17.6M+176.2%
Net Income

$21.6M

Previous: -$14.1M+252.7%
Operating Income

$34.3M

Previous: $3.62M+846.6%
Gross Profit

$335M

Previous: $284M+17.9%
Cash & Equivalents

$112M

Previous: $81.3M+37.9%
Total Assets

$3.51B

Previous: $3.45B+1.8%
Stock-Based Comp

$14.1M

Previous: $13.3M+6.1%

Revenue & EPS history

Baldwin Insurance · Revenue · Quarterly

$380M

Q1 2024+15.1%vs Q1 2023
Beat estimate in 8 of 14 quarters(57%)
ActualEstimate

Forward guidance

The company remains well-positioned to successfully deliver on its strategic priorities and generate continued long-term value for its shareholders.

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 2024

Historical avgQ1 2024

+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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