earnings
confidence high
sentiment positive
materiality 0.75
BRP Group Q1 revenue up 59% to $242.8M; organic growth 16%; acquires Westwood Insurance
Baldwin Insurance Group, Inc.
2022-Q1 EPS reported
$0.39
- GAAP net income $44.8M ($0.39 diluted EPS); Adjusted Net Income $57.5M ($0.50 per share).
- Adjusted EBITDA $72.9M (30% margin); MGA of Future organic revenue +42% to $24.4M.
- Post-quarter closed Westwood Insurance acquisition (trailing revenue ~$81.8M).
- Cash $156.8M, long-term debt $919.5M; revolver availability $70M after Westwood.
- All four segments reported double-digit organic growth; business performance accelerating into Q2.