Baldwin Insurance Q3 Revenue Misses Estimates at $480.3M; Net Loss Widens to $81.6M
BWIN has more than doubled off its 52-week low of $15.88 on light trading volume (0.3× avg).
Summary
Baldwin Insurance Group reported Q3 revenue of $480.264 million, missing the IBES estimate of $493.1 million by roughly $13 million. Adjusted EBITDA came in at $106.857 million versus the $107.5 million consensus, a narrow miss, with a 22.2% margin. The bottom line was the weak spot: net income was a loss of $81.642 million, extending the loss trend from Q2, when the company posted a $56.0 million net loss. The results land while the $32.50-per-share cash take-private by Sequence Holdings and DFO Management is pending, with a preliminary proxy filed October 15 — the quarter's numbers are unlikely to change deal terms, but they underscore the earnings pressure behind the sale.
At the time of this announcement, BWIN was trading at $31.99 on NASDAQ in the Finance sector, with a market capitalization of approximately $4.5B. The 52-week trading range was $15.88 to $32.71. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.