Insurance distribution company Baldwin Insurance Group (NASDAQ: BWIN) will be reporting results this Thursday after market close. Here’s what investors should know.
Baldwin Insurance Group beat analysts’ revenue expectations last quarter, reporting revenues of $532.2 million, up 28.7% year on year. It was a satisfactory quarter for the company, with EPS in line with analysts’ estimates but a slight miss of analysts’ organic revenue estimates.
Is Baldwin Insurance Group a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Baldwin Insurance Group’s revenue to grow 29.9% year on year, improving from the 11.5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Baldwin Insurance Group has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Baldwin Insurance Group’s peers in the professional services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Marsh delivered year-on-year revenue growth of 6.2%, beating analysts’ expectations by 1.7%, and Brown & Brown reported revenues up 30.4%, falling short of estimates by 2.5%. Marsh traded down 3.4% following the results while Brown & Brown was up 8.7%.
Read our full analysis of Marsh’s results here and Brown & Brown’s results here.
There has been positive sentiment among investors in the professional services segment, with share prices up 5.1% on average over the last month. Baldwin Insurance Group is up 9.1% during the same time and is heading into earnings with an average analyst price target of $31 (compared to the current share price of $28.65).
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