NASDAQ$BWIN

Baldwin Insurance Group Inc · Q4 2024 earnings

Q4 2024 earnings · · After market close · Investor relations

Briefing

The Baldwin Group reported a strong fourth quarter and full year 2024, with significant growth in total revenue, organic revenue, and adjusted EBITDA.

The Baldwin Group announced robust financial results for the fourth quarter and full year ended December 31, 2024. Total revenue increased 16% year-over-year to $329.9 million, with organic revenue growth of 19%. Adjusted diluted EPS grew 93% to $0.27, and adjusted EBITDA increased 38% to $63.2 million, with a 310 basis point expansion in adjusted EBITDA margin.

  • Total revenue for Q4 2024 increased 16% year-over-year to $329.9 million.
  • Organic revenue growth for Q4 2024 was 19% year-over-year.
  • Adjusted diluted EPS for Q4 2024 grew 93% year-over-year to $0.27.
  • Adjusted EBITDA for Q4 2024 increased 38% year-over-year to $63.2 million, with a 19.1% margin.

Headline financials

Total Revenue

$330M

Previous: $285M+15.9%
EPS (adj)

$0.27

Previous: $0.14+92.9%
Organic Revenue Growth

19.0%

Previous: 15.0%+26.7%
Adjusted EBITDA

$63.2M

Previous: $45.6M+38.5%
Adjusted EBITDA Margin

19.1%

Previous: 16.0%+19.4%
Capital Expenditures

-$12.2M

Previous: -$7.22M-68.3%
Net Income

-$34.8M

Previous: -$62.5M+44.3%
Operating Income

-$5.47M

Previous: -$29.7M+81.6%

Revenue & EPS history

Baldwin Insurance · Revenue · Quarterly

$330M

Q4 2024+15.9%vs Q4 2023
Beat estimate in 8 of 14 quarters(57%)
ActualEstimate

Forward guidance

The company anticipates a meaningful inflection in free cash flow generation and significant growth and flexibility in capital allocation, driven by continued focus on efficient execution and investments in technology platforms, and with the vast majority of earn-out obligations satisfied.

Tailwinds

  • Anticipates meaningful inflection in free cash flow generation.
  • Expects significant growth in financial performance.
  • Foresees increased flexibility in capital allocation.
  • Continued focus on efficient execution across the business.
  • Ongoing thoughtful investments in innovative and proprietary technology platforms.

Headwinds

  • No specific negative forward guidance was provided in the report.
  • The company did not provide specific numerical negative outlooks.
  • Potential risks are generally described in the 'Note Regarding Forward-Looking Statements' section.
  • Factors that could cause actual results to differ include those described in the 'Risk Factors' section of their Annual Report on Form 10-K.
  • The company does not undertake any obligation to update forward-looking statements.

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 Q4 2024

Historical avgQ4 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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