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.”
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.