Insurance distribution company Baldwin Insurance Group (NASDAQ: BWIN) will be reporting results this Thursday after market hours. Here’s what investors should know.

Baldwin Insurance Group beat analysts’ revenue expectations last quarter, reporting revenues of $365.4 million, up 7.8% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ revenue estimates but organic revenue in line with analysts’ estimates.

Is Baldwin Insurance Group a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Baldwin Insurance Group’s revenue to grow 6.8% year on year, slowing from the 15.9% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Baldwin Insurance Group has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at Baldwin Insurance Group’s peers in the insurance brokers segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Marsh & McLennan delivered year-on-year revenue growth of 8.7%, beating analysts’ expectations by 0.7%, and Arthur J. Gallagher reported revenues up 34.8%, in line with consensus estimates. Marsh & McLennan traded up 5.6% following the results while Arthur J. Gallagher was also up 1.4%.

Read our full analysis of Marsh & McLennan’s results here and Arthur J. Gallagher’s results here.

Debates around the economy’s health and the impact of potential tariffs and corporate tax cuts have caused much uncertainty in 2025. While some of the insurance brokers stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 8.3% on average over the last month. Baldwin Insurance Group is down 36.6% during the same time and is heading into earnings with an average analyst price target of $31.50 (compared to the current share price of $16.61).

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