NASDAQ$BWIN

Baldwin Insurance Group Inc · Q2 2023 earnings

Q2 2023 earnings · · Investor relations

Briefing

Reported a 28% year-over-year revenue increase and 22% organic revenue growth in the second quarter of 2023.

BRP Group, Inc. announced its Q2 2023 results, featuring a 28% increase in revenue to $297.2 million and a 22% organic revenue growth year-over-year. The company reported a GAAP net loss of $43.7 million, but adjusted net income was $32.0 million, or $0.27 per fully diluted share. Adjusted EBITDA grew 45% to $61.6 million.

  • Revenue increased 28% year-over-year to $297.2 million.
  • Organic Revenue Growth was 22% year-over-year.
  • GAAP net loss of $43.7 million and GAAP diluted loss per share of $0.40.
  • Adjusted EBITDA grew 45% to $61.6 million with Adjusted EBITDA Margin of 21%.

Headline financials

Total Revenue

$297M

Previous: $232M+27.8%
EPS (adj)

$0.27

Previous: $0.23+17.4%
Organic Revenue Growth

22.0%

Previous: 24.0%-8.3%
Adjusted EBITDA Margin

21.0%

Previous: 18.0%+16.7%
Capital Expenditures

-$8.62M

Previous: -$8.57M-0.7%
Free Cash Flow

-$32.5M

Previous: $77K-42335.1%
Net Income

-$23.9M

Previous: $8.64M-376.5%
Operating Income

-$16.5M

Previous: $25.4M-165.0%
Gross Profit

$250M

Previous: $192M+30.3%
Cash & Equivalents

$106M

Previous: $183M-42.5%
Total Assets

$3.47B

Previous: $3.41B+1.6%
Stock-Based Comp

$18.8M

Previous: $10.1M+85.5%

Revenue & EPS history

Baldwin Insurance · Revenue · Quarterly

$297M

Q2 2023+27.8%vs Q2 2022
Beat estimate in 8 of 14 quarters(57%)
ActualEstimate

Forward guidance

No forward guidance was provided in the earnings report.

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 Q2 2023

Historical avgQ2 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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