NASDAQ$BWIN
Baldwin Insurance Group Inc · Q3 2026 earnings
Q3 2026 earnings · · Before market open · Investor relations
Briefing
Baldwin Insurance reported Q3 2025 results with modest revenue growth and stable adjusted EBITDA despite a GAAP net loss.
The company grew revenue 8% year-over-year to $365.4M, with 5% organic revenue growth. Despite a GAAP net loss of $30.2M, adjusted EBITDA held steady at $72.5M and adjusted EPS came in at $0.31.
- Revenue reached $365,389,000, an 8% increase YoY
- Adjusted EBITDA was $72,520,000, unchanged from Q3 2024
- Adjusted EBITDA margin was 19.8%
- Organic revenue growth came in at 5%
Headline financials
Revenue & EPS history
Baldwin Insurance · Revenue · Quarterly
$365M
Forward guidance
The company aims to maintain financial discipline and strategic capital allocation, though macro headwinds may impact future results.
Tailwinds
- Consistent adjusted EBITDA performance
- Strong liquidity with $89.7M in cash and $524M revolver capacity
- Continued organic revenue growth
- Increased adjusted free cash flow by 26% YoY
- Progress on debt reduction and capital structure optimization
Headwinds
- GAAP net loss of $30.2M in the quarter
- Adjusted EBITDA margin decreased from 21.5% to 19.8%
- Negative operating cash flow year-to-date
- Colleague earnout incentives and transaction-related costs remain significant
- Challenging macro environment and integration costs may persist
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 Q3 2026
+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
| Quarter | Report date | Reaction (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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