Baldwin Group falls after Q3 profit misses expectation

Baldwin Insurance,

04/11/2024 23:07

** Shares of insurance distribution firm Baldwin Group
 BWIN.O  fall 5.2% to $43.75 after the bell
    ** BWIN posts Q3 adjusted profit of 33 cents/shr, missing
Wall Street expectations of 34 cents/shr, according to data
compiled by LSEG
    ** Q3 revenue jumped 11% to $338.9 mln; did not meet
expectations of $347.4 mln
    ** J.P. Morgan analysts say they have a negative initial
read of BWIN's results, adding that insurance advisory solutions
segment growth was worse than they had assumed
    ** As of last close, BWIN shares up 92.2% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))