TWFG reports Q1 adjusted EPS 16c, consensus 15c

Reports Q1 revenue $53.8M, consensus $53.16M. Gordy Bunch, Founder, Chairman, and CEO said “Our strong Q1 performance reflects the continued execution of our strategy and strength of our business model. Total revenues grew 16.6% year-over-year, and Adjusted EBITDA increased by 35.3%, and Adjusted EBITDA Margin expansion grew to 22.6%. Organic Revenue Growth of 14.3% underscores the productivity of our agents and the enduring value we deliver to our carrier partners and clients. Our recruiting momentum remains robust as we continue to expand our national footprint. During the quarter, we completed the acquisition of two new corporate locations, one in Ohio and one in Texas, expanded into New Hampshire, and added 17 branches across the U.S. The new locations are in line with our acquisition expectations for both revenue and EBITDA. As a reminder to our shareholders, newly onboarded agents typically take two to three years to reach full productivity.”