By David Bull

May 6 - (The Insurer) - US broker The Baldwin Group reported organic revenue growth of 10% for the first quarter and an 80 basis points expansion in its adjusted EBITDA margin to 27.5% as it generated adjusted diluted earnings per share of $0.65, up 16% from $0.56 in Q1 2024.

Adjusted EBITDA grew 12% year-over-year to $113.8 million, while adjusted free cash flow increased 6% to $25.8 million.

Total revenue at the Tampa, Florida-based intermediary was up 9% to $413.4 million.

Commenting on the performance, Baldwin Group CEO Trever Baldwin said: “The resilience and durability of our business and operating model was demonstrated in the first quarter as we continued to achieve double-digit organic revenue growth while increasing adjusted EBITDA by 12% and adjusted diluted EPS by 16%.”

He added: “As we have reached a significant inflection point with the vast majority of our earnout obligations behind us, our growing financial flexibility leaves us well positioned to accelerate momentum across our strategic priorities.”