Core Insights - The Baldwin Insurance Group reported a revenue of $365.39 million for the quarter ended September 2025, reflecting a year-over-year increase of 7.8% and a slight revenue surprise of +0.3% over the Zacks Consensus Estimate of $364.32 million [1] - The company's EPS for the quarter was $0.31, down from $0.33 in the same quarter last year, with an EPS surprise of +3.33% compared to the consensus estimate of $0.30 [1] Revenue Breakdown - Organic revenue growth was reported at 5%, slightly below the three-analyst average estimate of 5.5% [4] - Revenue from Insurance Advisory Solutions was $158.52 million, which is lower than the average estimate of $166.66 million, representing a year-over-year decline of -0.5% [4] - Underwriting, Capacity & Technology Solutions generated $147.27 million, exceeding the average estimate of $144.27 million, with a year-over-year increase of +13.5% [4] - Investment income was reported at $3.07 million, surpassing the estimated $2.52 million, but showing a significant year-over-year decline of -17.6% [4] - Corporate and Other revenue was reported at -$16.87 million, better than the estimated -$19.01 million, with a year-over-year change of -19.1% [4] - Commissions and fees revenue reached $362.32 million, slightly above the average estimate of $360.98 million, reflecting a year-over-year increase of +8.1% [4] - Mainstreet Insurance Solutions generated $76.48 million, exceeding the average estimate of $74.53 million, with a year-over-year growth of +8.2% [4] Stock Performance - The Baldwin Insurance Group's shares have returned -18.9% over the past month, contrasting with the Zacks S&P 500 composite's +2.1% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Core Insights - The Baldwin Insurance Group (BWIN) reported quarterly earnings of $0.31 per share, exceeding the Zacks Consensus Estimate of $0.30 per share, but down from $0.33 per share a year ago, resulting in an earnings surprise of +3.33% [1] - The company achieved revenues of $365.39 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 0.30% and showing an increase from $338.94 million year-over-year [2] - The stock has underperformed significantly, losing about 42.2% since the beginning of the year compared to the S&P 500's gain of 16.5% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.30 on revenues of $356.42 million, and for the current fiscal year, it is $1.66 on revenues of $1.51 billion [7] - The estimate revisions trend for The Baldwin Insurance Group was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Insurance - Life Insurance industry is currently ranked in the top 20% of over 250 Zacks industries, suggesting a favorable outlook as the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]

Financial Data and Key Metrics Changes - Organic revenue growth in Q3 2025 was 5%, with year-to-date organic revenue growth at 9% [4] - Adjusted EBITDA was flat year-over-year at approximately $72.5 million, with an adjusted EBITDA margin decline of about 170 basis points to 19.8% [20] - Adjusted diluted earnings per share grew 11% year-over-year, reaching $0.31 [4][20] - Total revenue for Q3 was $365.4 million, with a GAAP net loss of $30.2 million [19][20] Business Line Data and Key Metrics Changes - In the Insurance Advisory Solutions (IIS) segment, organic revenue growth was flat, but adjusting for accounting changes, it would have been 4% [5][6] - Underwriting Capacity and Technology Solutions (UCTS) segment saw organic revenue growth of 16%, driven by strong performance in multifamily and commercial umbrella portfolios [9] - Mainstreet Insurance Solutions (MIS) segment experienced slightly negative organic revenue growth, primarily due to a one-time commission reset [10] Market Data and Key Metrics Changes - The renewal premium change was a significant headwind at -5.7%, reflecting client caution amid macroeconomic uncertainty [8] - Sales velocity remained strong at 20% in Q3, indicating effective new business generation [6][7] Company Strategy and Development Direction - The company announced the 3B30 CADLIST program, a three-year transformation initiative aimed at enhancing automation and AI integration [15][16] - The focus remains on organic reinvestment, M&A, and opportunistic share repurchases as part of capital allocation strategy [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to navigate a dynamic insurance market, expecting continued improvement in organic revenue growth in 2026 [18][24] - The company anticipates a cumulative transformation charge of approximately $40 million by the end of 2028, with projected annualized savings of $40 million [17][18] Other Important Information - The company is experiencing a historic high in the backlog of won but not yet booked new business, indicating strong future revenue potential [6] - The acquisition of Hippo's home builder distribution network is expected to enhance growth opportunities in the embedded home insurance market [13] Q&A Session Summary Question: Clarification on IIS segment performance - Management noted that the flat organic growth in IIS was impacted by a procedural accounting change, which is a timing issue rather than a loss of revenue [28] Question: Competitive pressures in UCTS - Management indicated that competitive dynamics vary by product line, and they maintain a strong market position through embedded insurance solutions [34][36] Question: Preliminary outlook for 2026 - Management expects high single-digit organic growth in 2026, with a gradual acceleration throughout the year [39][43] Question: Impact of commission changes on future revenue - Management clarified that the headwinds from commission changes will cease by April 2026, transitioning into a tailwind as new fee structures take effect [50][51] Question: Capital management and share buybacks - Management reiterated the commitment to achieving leverage below four times before initiating a share buyback program, emphasizing the importance of financial flexibility [53][54]

Q3 2025 EARNINGS SUPPLEMENT November 2025 Non-GAAP financial measures This presentation includes certain financial measures (including, retained commissions and fees, organic revenue, organic revenue growth, adjusted EBITDA, adjusted EBITDA margin, adjusted EBITDA margin on retained commissions and fees, adjusted net income, adjusted diluted EPS, pro forma revenue, pro forma adjusted EBITDA, pro forma adjusted EBITDA margin, and adjusted free cash flow) that are calculated and presented on the basis of meth ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________ FORM 10-Q _________________________________________ (Mark One) x Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2025 or o Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ________ to _________ Commission File Number: 001-39095 ______________ ...

Exhibit 99.1 THE BALDWIN GROUP ANNOUNCES THIRD QUARTER 2025 RESULTS — Third Quarter Total Revenue Growth of 8% to $365.4 Million; Organic Revenue Growth of 5% — (1) — Year-to-Date Total Revenue Growth of 9% to $1.158 Billion; Organic Revenue Growth of 9% — (1) — Third Quarter Net Loss of $30.2 Million and Diluted Loss Per Share of $0.27; Adjusted Diluted EPS of $0.31 — (2) — Year-to-Date Net Loss of $10.5 Million and Diluted Loss Per Share of $0.12; Adjusted Diluted EPS of $1.37 — (2) — Third Quarter Adjust ...

TAMPA, Fla.--(BUSINESS WIRE)--The Baldwin Group today released its Q3 2025 Market Pulse, a pricing trend analysis that blends observed rate movement with changes in exposure and client buying behavior to capture real-world premium dynamics across commercial insurance lines. The report shows clear evidence of continued softening across the commercial property market —supported by renewed competition, improving capacity, and more flexible structures for well-differentiated risks—while casualty li. ...

Economic Indicators - China's September exports rose by +8.3% year-on-year, exceeding expectations of +6.6% and marking the largest increase in six months [1] - September imports in China increased by +6.4% year-on-year, surpassing expectations of +1.8% and representing the largest rise in 17 months [1] Market Reactions - Stock indexes experienced a sharp rise on Monday, recovering some losses from the previous Friday's plunge, driven by a softening of the Trump administration's rhetoric towards China [5][6] - The S&P 500 Index closed up +1.56%, the Dow Jones Industrials Index rose by +1.29%, and the Nasdaq 100 Index increased by +2.18% [6] Corporate Earnings - More than 22% of S&P 500 companies provided guidance for Q3 earnings that are expected to exceed analysts' expectations, the highest in a year [10] - Q3 profits are projected to rise by +7.2%, the smallest increase in two years, while sales growth is expected to slow to +5.9% from 6.4% in Q2 [10] Sector Performance - Chipmakers and AI infrastructure stocks rallied, with Broadcom's shares jumping over +9% following a multi-year agreement with OpenAI [5][15] - Rare earth stocks surged due to tensions between China and the US, with Critical Metals closing up more than +53% [17] - Mining stocks also increased as gold prices rose more than +3% to an all-time high, benefiting companies like Coeur Mining and Newmont [18] Upcoming Events - The market will focus on trade or tariff news and attempts to reopen the government, with major banks set to release Q3 earnings results [9]

Core Viewpoint - Investors in the Life Insurance sector should consider Voya Financial (VOYA) and The Baldwin Insurance Group (BWIN) for potential value opportunities [1] Group 1: Zacks Rank and Earnings Estimates - Voya Financial has a Zacks Rank of 2 (Buy), indicating a positive earnings estimate revision activity, while The Baldwin Insurance Group has a Zacks Rank of 4 (Sell) [3] - The Zacks Rank emphasizes earnings estimates and revisions, which are crucial for identifying value opportunities [2] Group 2: Valuation Metrics - Voya Financial has a forward P/E ratio of 8.24, significantly lower than BWIN's forward P/E of 17.25 [5] - Voya's PEG ratio is 0.54, compared to BWIN's PEG ratio of 0.92, indicating better value relative to expected earnings growth [5] - Voya has a P/B ratio of 1.1, while BWIN's P/B ratio is 3.25, further highlighting Voya's more attractive valuation metrics [6] Group 3: Overall Value Assessment - Based on the stronger estimate revision activity and more favorable valuation metrics, Voya Financial is considered the superior option for value investors compared to The Baldwin Insurance Group [7]

Core Insights - The Baldwin Insurance Group, Inc. (NASDAQ:BWIN) is identified as an oversold financial stock with potential for investment according to hedge funds [1] - The company reported strong fiscal second quarter results for 2025, exceeding revenue expectations while EPS met forecasts [2][3] - Analysts maintain a bullish outlook on the stock, with a significant upside potential reflected in their price targets [4] Financial Performance - The Baldwin Insurance Group, Inc. achieved quarterly revenue of $378.81 million for FQ2 2025, marking an 11.47% year-over-year increase and surpassing expectations by $3.79 million [3] - The EPS for the same quarter was reported at $0.42, aligning with market expectations [2][3] Analyst Ratings - Tommy McJoynt from Keefe Bruyette lowered the price target for BWIN from $44 to $37 but retained an Outperform rating [1] - Gregory Peters from Raymond James reiterated a Buy rating with a price target of $40, indicating a 35.42% upside from current levels [4]