One quarter after Tampa-headquartered The Baldwin Group purchased CAC Group brokerage and reported a $26 million net loss, the brokerage posted just a $1.9 million loss for Q1 2026.
On a per-share basis, Baldwin saw net income of 2 cents. Earnings, adjusted for one-time gains and costs, came to 63 cents per share.
Those results fell short of Wall Street expectations for the publicly traded firm. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share, the Associated Press reported.
The company posted revenue of $532 million in the period, up significantly from Q1 of 2025, Baldwin’s first-quarter earnings statement noted. But operating income dropped from a net gain of $56 million in early 2025 to a loss of $101 million this year.
The Baldwin Insurance Group shares have dropped nearly 9% since the beginning of this year. In the final minutes of trading on Monday, shares hit $21.97, a decline of 48% in the last 12 months.
“Our first-quarter results demonstrate the durability and accelerating earnings power of our differentiated platform,” Trevor Baldwin said in a .
The brokerage, one of the largest in the country, has expanded rapidly in the last year. Besides the CAC Group, Baldwin added an embedded, homebuilder-linked HO insurance program, and acquired the Capstone Group, a brokerage in Pennsylvania.
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