Baldwin (BWIN) Q2 2026 Earnings Call Summary
Baldwin (NYSE: BWIN) reported second-quarter revenue of $493 million, reflecting a total organic growth rate of 2%. Adjusted EBITDA rose to $117 million from $86 million in the prior year period. The company attributed this increase primarily to contributions from CAC and margin expansion within its Mainstreet Insurance Solutions segment. The firm also reported an adjusted diluted EPS of $0.48, with normalized organic revenue growth reaching 8% when accounting for integration headwinds and including January partnerships on a pro forma basis. Adjusted free cash flow surged by 437% year-over-year to $46 million due to higher EBITDA and improved working capital dynamics. Baldwin provided guidance for Q3 revenue between $485 million and $495 million, with organic growth expected in the mid-single digits. The company also outlined full-year 2026 organic growth expectations of mid-single digits.
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