TAMPA, Fla. (AP) — TAMPA, Fla. (AP) — The Baldwin Insurance Group, Inc. (BWIN) on Monday reported first-quarter profit of $2.3 million.
On a per-share basis, the Tampa, Florida-based company said it had net income of 2 cents. Earnings, adjusted for one-time gains and costs, came to 63 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.
The company posted revenue of $532.2 million in the period.
The Baldwin Insurance Group shares have dropped nearly 9% since the beginning of the year. In the final minutes of trading on Monday, shares hit $21.97, a decline of 48% 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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