The Baldwin Insurance Group, Inc. (BWIN) Q3 2024 Earnings Call Transcript Summary
The Baldwin Insurance Group, Inc. (BWIN) Q3 2024 Earnings Call Transcript Summary
Adjusted EBITDA The following is a summary of the The Baldwin Insurance Group, Inc. (BWIN) Q3 2024 Earnings Call Transcript:
以下是宝德威保险集团有限公司（BWIN）2024年第三季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
Baldwin Insurance Group reported a 14% increase in both organic revenue and core commissions and fees revenue.
Adjusted EBITDA grew 14%, or 18% normalizing for the pro forma impact of the sale of connected risk.
Adjusted EBITDA margin expanded by approximately 60 basis points to 21%.
Adjusted free cash flow grew 15% to $27.8 million.
Total revenue of $338.9 million was reported for the quarter.
GAAP net loss for the quarter was $14.5 million, or a GAAP diluted loss per share of $0.13.
Adjusted net income was $38.5 million, or $0.33 per fully diluted share.
宝德温保险集团报告称，有机收入和核心佣金和费用收入均增长了14％。
调整后的息税折旧摊销前利润增长了14％，增长了18％，这符合出售关联风险的预期影响。
调整后的息税折旧摊销前利润率增长了约60个基点至21％。
调整后的自由现金流增长了15％，达到2780万美元。
本季度报告的总收入为3.389亿美元。
该季度的GAAP净亏损为1,450万美元，或GAAP摊薄后的每股亏损为0.13美元。
调整后的净收益为3,850万美元，摊薄后每股收益为0.33美元。
Business Progress:
业务进展：
Baldwin Insurance Group has experienced significant growth and resilience during an intense hurricane season, emphasizing their crucial role in client recovery and financial stability.
Various business segments like IAS, UCTS, and MIS showed notable organic revenue growth.
Comprehensive efforts were made in rebranding and talent acquisition to boost industry presence and drive organic growth.
The multifamily and home portfolios within UCTS demonstrated robust growth.
在强烈的飓风季节中，宝德温保险集团经历了显著的增长和韧性，这凸显了他们在客户复苏和财务稳定中的关键作用。
IAS、UCTS和MIS等各个业务领域均显示出显著的有机收入增长。
在品牌重塑和人才招聘方面做出了全面努力，以提高行业影响力并推动有机增长。
UCTS内部的多户住宅和住宅投资组合表现出强劲的增长。
Opportunities:
机会：
Continued scaling of business operations is anticipated due to consistent organic growth, especially with the nearing completion of earn-out obligations which is expected to significantly improve the company's net leverage and adjusted free cash flow profile through 2025.
由于持续的有机增长，预计业务运营将持续扩展，尤其是在盈利义务即将完成的情况下，预计到2025年，这将显著改善公司的净杠杆率和调整后的自由现金流状况。
Risks:
风险：
The company faces potential economic headwinds impacting rate and exposure, particularly noted in their construction and employee benefits business. However, management expresses confidence in overcoming these based on strong internal business fundamentals and ongoing new business production.
该公司面临着影响利率和风险敞口的潜在经济不利因素，在建筑和员工福利业务中尤其如此。但是，基于强大的内部业务基础和持续的新业务产量，管理层表示有信心克服这些困难。
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