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Baldwin Insurance Group (BWIN)
NASDAQ:BWIN
Earnings Data
Report Date
May 12, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.66Last Year’s EPS
0.65Same Quarter Last Year
Moderate Buy
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive operational and strategic picture: strong adjusted profitability, margin expansion, high-growth pockets (UCTS, embedded channels, renters), clear digital transformation initiatives, and early, ahead-of-schedule synergy execution on recent partnerships. At the same time, the company faces material near-term headwinds—timing and accounting impacts, Medicare disruption, QBE transition, a sizable rate/exposure swing in IAS, GAAP losses, and partnership-related incremental costs—that depressed reported organic growth and free cash flow in 2025 and extend some pressure into early 2026. Management provided constructive 2026 guidance, a focused integration and automation plan (Catalyst), and capital actions (term loan, $250M repurchase authorization) to address value realization and shareholder returns. Taken together, the operational positives and forward-looking actions outweigh the temporary headwinds and one-time items, supporting a constructive outlook but with near-term execution and deleveraging tasks to prove.Company Guidance
Full-Year Organic Growth and Profitability
2025 full-year core commission & fee organic revenue growth of 8% and total organic revenue growth of 7%; adjusted EBITDA grew 9% for the year with a 20 basis point expansion in adjusted EBITDA margin; adjusted diluted EPS grew 11% for the full year.
Strong Q4 Adjusted Results
Q4 adjusted EBITDA rose 10% year-over-year to $69.6M and adjusted EBITDA margin expanded ~100 bps to 20.1%; adjusted diluted EPS grew 15% to $0.31; total Q4 revenue $347.3M; Q4 adjusted free cash flow rose 85% to $11M.
UCTS Segment Outperformance
UCTS delivered ~16% organic growth in the quarter and adjusted EBITDA margin expansion of approximately 330 basis points, driven by multifamily growth, commercial umbrella portfolio performance, builder product and contributions from Juniper Re.
Embedded Personal Lines Scale (Westwood)
Westwood (including Hippo) generated $190M pro forma revenue in 2025; embedded with 20 of the top 25 homebuilders (who sold ~57% of new U.S. homes in 2024); binds policies ~55% of the time and ~85% of bound policies are escrowed—creating a persistent, high-conversion embedded channel.
Renters Insurance and MGA Momentum
Renters insurance platform wrote over $280M of premium in 2025; 100% of premium in that channel flows into Baldwin’s proprietary MGA products (MSI), strengthening vertical integration and margin capture.
Digital Transformation in Small Commercial (Founder Shield)
Founder Shield digital platform increased retention for migrated clients from 82% to 92%, improved margins by ~40 percentage points and accelerated growth to ~25% annually; $17M of retail brokerage revenue already on platform with ~ $30M remaining to migrate.
CAC and Partnership Integration Progress
Closed partnerships with CAC, OBE and Capstone (combined ~ $350M pro forma revenue in 2025); expecting roughly $400M of revenue and ~$110M of adjusted EBITDA post-synergies in 2026; $43M of identified cost synergies over 3 years with $25M already actioned and $17M revenue synergies (with $11M being actively worked).
Client/Talent/Commercial Momentum
IAS sales velocity at 19% (top decile vs industry), client retention improved nearly 300 basis points in Q4; company increased investment in frontline revenue-generating talent by 44%, raising net unvalidated producer pay from 1.6% to 2.3% of commission & fee revenue to support future growth.
Capital Allocation & Liquidity Moves
Raised term loan by $600M (SOFR + 250 bps) to fund partnership closings; Board authorized a $250M opportunistic share repurchase program; long-term targets remain 3–4x leverage and focus on free cash flow conversion.
2026 Guidance and Strategic Targets
2026 guidance (post-CAC) calls for total revenue of $2.01B–$2.05B, organic growth of mid-single digits or higher (ramping to double digits by Q4), adjusted EBITDA $460M–$480M, and adjusted diluted EPS $2.00–$2.10; Catalyst (3B30) program expected to deliver $3M–$5M of savings in 2026 with bigger ramp in 2027+.
BWIN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
BWIN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 26, 2026 | $18.49 | $23.23 | +25.64% |
Sep 30, 2025 | $28.21 | $27.12 | -3.86% |
Aug 05, 2025 | $36.46 | $30.38 | -16.68% |
May 06, 2025 | $40.91 | $39.19 | -4.20% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Baldwin Insurance Group (BWIN) report earnings?
Baldwin Insurance Group (BWIN) is schdueled to report earning on May 12, 2026, After Close (Confirmed).
What is Baldwin Insurance Group (BWIN) earnings time?
Baldwin Insurance Group (BWIN) earnings time is at May 12, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BWIN EPS forecast?
BWIN EPS forecast for the fiscal quarter 2026 (Q1) is 0.66.