Baldwin Insurance Group, Inc.BWINEarnings & Financial Report
The Baldwin Piano Company is an American piano brand. It was once the largest US-based manufacturer of keyboard instruments and was known by the slogan, "America's Favorite Piano". Since 2001, it has been a subsidiary of Gibson Brands, Inc. Baldwin ceased domestic production in December 2008, moving its piano manufacturing to China.
Revenue
$339.8M
Gross Profit
N/A
Operating Profit
$16.5M
Net Profit
$-17.6M
Gross Margin
N/A
Operating Margin
4.8%
Net Margin
-5.2%
YoY Growth
14.4%
EPS
$-0.28
Baldwin Insurance Group, Inc. Q2 FY2024 Financial Summary
Baldwin Insurance Group, Inc. reported revenue of $339.8M (up 14.4% YoY) for Q2 FY2024, with a net profit of $-17.6M (up 26.5% YoY) (-5.2% margin).
Key Financial Metrics
| Total Revenue | $339.8M |
|---|---|
| Net Profit | $-17.6M |
| Gross Margin | N/A |
| Operating Margin | 4.8% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
Baldwin Insurance Group, Inc. Q2 FY2024 revenue of $339.8M breaks down across 5 segments, led by Commission Revenue at $280.4M (82.5% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Commission Revenue | $280.4M | 82.5% |
| Profit Sharing Revenue | $22.3M | 6.6% |
| Consultingand Service Fee Revenue | $18.6M | 5.5% |
| Policy Feeand Installment Fee Revenue | $14.6M | 4.3% |
| Other Insurance Product Line | $1.1M | 0.3% |
Baldwin Insurance Group, Inc. Revenue by Segment — Quarterly Trend
Baldwin Insurance Group, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Commission Revenue and Profit Sharing Revenue) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Profit Sharing Revenue | — | $28.7M | — | $24.3M |
| Consultingand Service Fee Revenue | $20.9M | $26.9M | $27.4M | $20.2M |
| Policy Feeand Installment Fee Revenue | $20.4M | $20.6M | $19.7M | $18.0M |
| Other Insurance Product Line | $4.4M | $2.8M | $4.5M | $4.9M |
Baldwin Insurance Group, Inc. Annual Revenue by Year
Baldwin Insurance Group, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $1.5B).
| Year | Annual Revenue |
|---|---|
| 2025 | $1.5B |
| 2024 | $1.4B |
| 2023 | $1.2B |
| 2022 | $-71.1M |
Baldwin Insurance Group, Inc. Quarterly Revenue & Net Profit History
Baldwin Insurance Group, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $347.3M | +5.3% | $-25.9M | -7.5% |
| Q3 FY2025 | $365.4M | +7.8% | $-18.7M | -5.1% |
| Q2 FY2025 | $378.8M | +11.5% | $-3.2M | -0.8% |
| Q1 FY2025 | $413.4M | +8.7% | $13.9M | 3.4% |
| Q4 FY2024 | $329.9M | +15.9% | $-20.2M | -6.2% |
| Q3 FY2024 | $338.9M | +10.7% | $-8.4M | -2.5% |
| Q2 FY2024 | $339.8M | +14.4% | $-17.6M | -5.2% |
| Q1 FY2024 | $380.4M | +15.1% | $21.6M | 5.7% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $380.4M | $339.8M | $338.9M | $329.9M | $413.4M | $378.8M | $365.4M | $347.3M |
| YoY Growth | 15.1% | 14.4% | 10.7% | 15.9% | 8.7% | 11.5% | 7.8% | 5.3% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $3.51B | $3.68B | $3.54B | $3.53B | $3.55B | $3.74B | $3.79B | $3.86B |
| Liabilities | $2.44B | $2.64B | $2.50B | $2.53B | $2.50B | $2.69B | $2.67B | $2.78B |
| Equity | $597.9M | $590.9M | $595.4M | $583.2M | $619.6M | $630.8M | $619.7M | $600.2M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $3.0M | $18.3M | $32.4M | $51.5M | $-64.0M | $-16.7M | $41.0M | $-29.4M |