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Hagerty Inc Class A (HGTY)
NYSE:HGTY
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Earnings Data
Report Date
Mar 18, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.01Last Year’s EPS
-$0.01Same Quarter Last Year
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -12.89%
|Next Earnings Date:Mar 18, 2025
Earnings Call Sentiment|Neutral
The earnings call revealed significant revenue growth and membership expansion, driven by strong customer satisfaction and operational efficiencies. However, natural disasters negatively impacted profit margins and loss ratios. Despite these challenges, the company maintains a positive outlook on its growth trajectory.Company Guidance
During Hagerty's Q3 2024 earnings call, the company reported a year-to-date written premium growth of 16% and total revenue growth of 20% over the first nine months of 2024. They added 220,000 new members and have projected a record 275,000 new members by year-end. The company faced challenges from Hurricanes Helene and Milton, which led to $30 million in estimated losses but still achieved an operating income of $60 million and adjusted EBITDA between $110 million and $120 million. Hagerty's Net Promoter Score (NPS) reached 82, significantly above the industry average. They plan to increase total revenue to approximately $1.18 billion, driven by 15% written premium growth. Despite the catastrophe losses, Hagerty Reinsurance delivered a 26% return on equity. The company's strategic priorities include improving customer retention and expanding their Hagerty Marketplace, with a focus on launching the Enthusiast Plus business in 2025.Record Membership Growth
Hagerty is on track to add a record 275,000 new members in 2024, with a 16% year-to-date written premium growth.
Revenue and Profitability Growth
Total revenue growth of 20% over the first 9 months of 2024, with operating income approximately 5x higher than the prior year period, excluding hurricane impacts.
High Net Promoter Score
Achieved an NPS of 82, more than double the industry average, indicating strong customer satisfaction.
Operating Cash Flow Increase
Generated $190 million of operating cash flow during the first 9 months, representing a 43% increase.
Marketplace Revenue Surge
Marketplace revenue grew 54% due to strong auction results, higher inventory sales, and increased financing revenue.
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HGTY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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HGTY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $11.95 | $11.43 | -4.35% |
| Aug 06, 2024 | $10.54 | $10.78 | +2.28% |
| May 07, 2024 | $9.04 | $9.09 | +0.55% |
| Mar 12, 2024 | $8.97 | $8.87 | -1.11% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Hagerty Inc Class A (HGTY) report earnings?
Hagerty Inc Class A (HGTY) is schdueled to report earning on Mar 18, 2025, TBA Not Confirmed.
What is Hagerty Inc Class A (HGTY) earnings time?
Hagerty Inc Class A (HGTY) earnings time is at Mar 18, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HGTY EPS forecast?
HGTY EPS forecast for the fiscal quarter 2024 (Q4) is $0.01.
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