Baldwin Insurance Q1 revenue beats estimates, driven by recent partnerships

Baldwin Insurance,

04/05/2026 21:21

Overview

US insurance distributor's Q1 revenue rose 29%, beating analyst expectations

Adjusted EPS for Q1 slightly missed analyst expectations

Company cites recent partnerships, especially CAC Group, as key drivers of revenue growth

Outlook

Baldwin expects accelerating organic growth through 2026, targeting double-digit run rate by year-end

Company says CAC Group integration ahead of plan, with expense synergies realized faster than anticipated

Baldwin continues to advance its $3B/30 Catalyst transformation program

Result Drivers

PARTNERSHIP CONTRIBUTIONS - Company said recent partnerships, especially CAC Group, drove revenue growth and delivered early cross-sell wins

MODEST ORGANIC GROWTH - Organic revenue growth was 2% year-over-year, with normalized organic growth of approximately 9% including new partnerships

SYNERGY REALIZATION - Company said it achieved about 80% of targeted three-year expense synergies from CAC Group integration

Company press release: ID:nBw6Yw06fa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$532.24 mln
$524.28 mln (6 Analysts)
Q1 Adjusted EPS
Miss
$0.63
$0.64 (10 Analysts)
Q1 EPS
$0.02
Q1 Adjusted Net Income
Slight Beat*
$89.30 mln
$88.96 mln (5 Analysts)
Q1 Net Income
-$1.90 mln
Q1 Adjusted EBITDA
Slight Beat*
$137.20 mln
$136.10 mln (5 Analysts)
Q1 Adjusted EBITDA Margin
26.00%
Q1 Operating income
-$101.27 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the multiline insurance & brokers peer group is "buy"

Wall Street's median 12-month price target for Baldwin Insurance Group, Inc is $29.50, about 33.9% above its May 1 closing price of $22.03

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)