Baldwin Insurance Group Reports Q3 2025 Earnings

BWIN
November 05, 2025

Baldwin Insurance Group, Inc. (BWIN) announced its third‑quarter 2025 financial results on November 5, 2025. The company reported total revenue of $365.4 million, an 8% increase from the prior quarter, and a year‑to‑date revenue growth of 9%.

The quarter ended with a net loss of $30.2 million and a diluted loss per share of $0.27. However, the company’s adjusted diluted earnings per share rose to $0.31, and its adjusted EBITDA margin stood at 20%, up from a 23% year‑to‑date margin, indicating solid operating leverage despite the headline loss. The company also posted an adjusted EBITDA of $73.3 million for the quarter, reflecting continued efficiency gains across its segments.

Baldwin’s cash position remained strong, with $89.7 million in cash and cash equivalents and $524 million of available borrowing capacity under its revolving credit facility. The company’s balance sheet health, combined with the positive adjusted earnings, supports its ongoing strategy of capital flexibility and organic growth, positioning it to pursue further expansion in its underwriting and technology solutions segments.

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