TAMPA, Fla. (AP) — TAMPA, Fla. (AP) — The Baldwin Insurance Group, Inc. (BWIN) on Tuesday reported a loss of $17.6 million in its second quarter.
The Tampa, Florida-based company said it had a loss of 28 cents per share. Earnings, adjusted for amortization costs and to extinguish debt, were 34 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The company posted revenue of $339.8 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $335.7 million.
The Baldwin Insurance Group shares have increased 73% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $41.50, a climb of 67% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BWIN at https://www.zacks.com/ap/BWIN
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