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The Baldwin Group Q2 2026 revenue jumps 30%, net loss $56 million
Total revenue rose to $492.9 million, while adjusted free cash flow increased 437% to $46.4 million in the quarter.
The Baldwin Group, an independent insurance brokerage and advisory firm, reported second-quarter 2026 results showing total revenue increased 30% to $492.9 million. The company posted a GAAP net loss of $56 million despite the top-line growth, and also reported a 2% year over year increase in organic revenue.
In the quarter, adjusted net income reached $68.5 million, while adjusted EBITDA climbed 37% to $116.7 million. Margins were 11% for net loss margin and 24% for adjusted EBITDA margin.
The company said adjusted free cash flow surged 437% to $46.4 million, and Chief Executive Officer Trevor Baldwin cited momentum reflected in revenue, adjusted EBITDA, and cash flow growth. He added that the firm has largely lapped one-time headwinds expected to transition into tailwinds in the back half of 2026, and pointed to contributions from recent partnerships.
For the first half of 2026, The Baldwin Group reported revenues of $1.0 billion, up 29% year over year. Organic revenue grew 2% year over year, and GAAP net loss was $57.9 million, with adjusted net income at $157.8 million and adjusted EBITDA up 27% to $254.0 million.