TAMPA, Fla. (AP) — TAMPA, Fla. (AP) — The Baldwin Insurance Group, Inc. (BWIN) on Tuesday reported a loss of $18.7 million in its third quarter.
On a per-share basis, the Tampa, Florida-based company said it had a loss of 27 cents. Earnings, adjusted for amortization costs and stock option expense, came to 31 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.
The company posted revenue of $365.4 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $364.3 million.
The Baldwin Insurance Group shares have declined 41% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $23.01, a drop of 50% 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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