Business
The Baldwin Group Announces Fourth Quarter and Full Year 2024 Results
- Fourth Quarter 2024 Total Revenue Growth of 16%; Organic Revenue Growth(1) of 19% - - Full Year 2024 Total Revenue Growth of 14%; Organic Revenue Growth of
About this update from The Baldwin Insurance Group, Inc.
[{"type":"text","content":"\n- Fourth Quarter 2024 Total Revenue Growth of 16%; Organic Revenue Growth(1) of 19% -\n\n\n- Full Year 2024 Total Revenue Growth of 14%; Organic Revenue Growth of 17% -\n\n\n- Fourth Quarter 2024 Net Loss of $34.8 Million and Diluted Loss Per Share of $0.31; Adjusted Diluted EPS(2) Growth of 93% to $0.27 -\n\n\n- Fourth Quarter 2024 Adjusted EBITDA(3) Growth of 38% and Pro Forma Adjusted EBITDA(4) Growth of 42% Year-Over-Year to $63.2 Million; Adjusted EBITDA Margin(3) of 19%, a 310 Basis Point Expansion Compared to the Prior-Year Period -\n\n\n- Full Year 2024 Adjusted EBITDA Margin of 22.5%, a 200 Basis Point Expansion Compared to 2023 -\n\n\n TAMPA, Fla.--(BUSINESS WIRE)--\nThe Baldwin Group, the brand name for The Baldwin Insurance Group, Inc. (“Baldwin” or the “Company”) (NASDAQ: BWIN), an independent insurance distribution firm delivering tailored insurance solutions to a wide range of personal and commercial clients, today announced its results for the fourth quarter and full year ended December 31, 2024.\n\n\nFOURTH QUARTER 2024 HIGHLIGHTS\n\n\n\nTotal revenue increased 16% year-over-year to $329.9 million\n\n\n\n\nOrganic revenue growth of 19% year-over-year\n\n\n\n\nGAAP net loss of $34.8 million and GAAP diluted loss per share of $0.31\n\n\n\n\nAdjusted net income(2) of $32.1 million\n\n\n\n\nAdjusted diluted EPS grew 93% year-over-year to $0.27\n\n\n\n\nAdjusted EBITDA grew 38% year-over-year to $63.2 million\n\n\n\n\nAdjusted EBITDA margin of 19.1%, a 310 basis point expansion compared to 16.0% in the prior year\n\n\n\n\nPro forma adjusted EBITDA grew 42% year-over-year to $63.2 million\n\n\n\n“We saw continued momentum across our business with organic growth of 19% for the fourth quarter, 17% for the full year, and double digits across all three of our segments showcasing the strength of our colleague and client franchise,” said Trevor Baldwin, Chief Executive Officer of The Baldwin Group. “Our continued focus on efficient execution across our business and thoughtful investments in innovative and proprietary technology platforms delivered 200 basis points of adjusted EBITDA margin expansion and adjusted free cash flow growth of 97% alongside our industry leading organic growth profile in 2024. With the vast majority of our earn-out obligations satisfied, we anticipate a meaningful inflection in free cash flow gen...