Baldwin Insurance

Q3 FY2026 EarningsQ3 FY26 results missed consensus across the board, headlined by a significant GAAP net loss of $81.6M. Revenue of $480.3M missed the $491.8M expectation, while organic growth slowed to 6%. Operating cash flow of $54.2M was nearly 71% below consensus, and a one-time 'Go-Private' cost of $21.0M further weighed on results. Despite a 240bps YoY expansion in Adjusted EBITDA margin to 22.2%, the overall financial performance was overshadowed by the announced all-cash take-private agreement at $32.50 per share.