Baldwin Insurance Q1 2022 Earnings Report
Key Takeaways
BRP Group, Inc. announced strong Q1 2022 results, with a 59% year-over-year increase in revenue to $242.8 million and a 16% organic revenue growth. The company's 'MGA of the Future' platform also saw significant growth, and the acquisition of Westwood Insurance Agency post-quarter end is expected to accelerate growth initiatives.
Revenue increased 59% year-over-year to $242.8 million.
Organic Revenue Growth was 16% year-over-year.
“MGA of the Future” organic revenue grew 42% year-over-year to $24.4 million.
GAAP net income of $44.8 million and GAAP earnings per fully diluted share of $0.39.
Baldwin Insurance
Baldwin Insurance
Forward Guidance
BRP Group sees their business performance accelerating into Q2 and remains well positioned to further deliver sustainable growth, increased profitability, and stakeholder value.