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Dec 31, 2019
Baldwin Insurance Q4 2019 Earnings Report
BRP Group's revenue increased, driven by organic growth and strategic acquisitions.
Key Takeaways
BRP Group reported a strong fourth quarter and full year 2019, with revenue growth driven by organic expansion and strategic partnerships. The company's 'MGA of the Future' platform continued to perform well, contributing significantly to the overall revenue increase. BRP Group also focused on enhancing its capital structure and increasing financial flexibility.
Revenue increased 75% year-over-year to $36.6 million.
Organic revenue growth was 12% versus the prior-year period.
“MGA of the Future” revenue grew 34% to $9.5 million, compared to $7.1 million in the prior-year period
Adjusted EBITDA more than doubled to $5.9 million compared to $2.6 million in the prior-year period.
Forward Guidance
BRP Group is closely monitoring COVID-19’s impact on the macroeconomic environment and continues to prudently pursue its strategic objectives, which it believes should generate significant long-term value for its shareholders.
Positive Outlook
- Continued operational enhancements
- Ongoing investments into the platform
- ‘MGA of the Future’ platform continued to outperform during 2019 and will become part of our organic growth print beginning in the second quarter of 2020
- Enhancing capital structure
- Reducing cost of capital
Challenges Ahead
- Closely monitoring COVID-19’s impact on the macroeconomic environment
- Ongoing macro conditions
- Thoughtfully navigating through the current economic environment
- Net loss attributable to BRP Group, Inc. $(8,650)
Historical Earnings Impact
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Avg. Return Before/After Earnings
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