Earnings Releases·Oct 27, 2026, 9:02 AM ET

The Baldwin Group — Third Quarter 2026 Earnings Summary

Total revenue increased 31% year-over-year to $480.3 million, while Adjusted EBITDA grew 47% year-over-year to $106.9 million with margins expanding 240 basis points to 22.2%; however, GAAP net loss widened to $81.6 million from $30.2 million in the prior-year period.
The company entered a definitive merger agreement for an all-cash take-private transaction valued at $32.50 per share, led by Sequence Holdings and DFO Management, LLC, with closing expected in the first quarter of 2027 subject to regulatory and shareholder approvals.
Adjusted free cash flow rose 33% year-over-year to $55.6 million, and management highlighted the "$3B/30 Catalyst Program" to accelerate automation and AI adoption.
As of September 30, 2026, the company held $188.6 million in cash and cash equivalents against $2.465 billion in total debt, with $289.1 million of borrowing capacity available under its revolving credit facility.