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Hagerty Inc Class A (HGTY)
:HGTY
Earnings Data
Report Date
May 13, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.02Last Year’s EPS
0.04Same Quarter Last Year
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 04, 2025
|% Change Since: -10.09%
|Next Earnings Date:May 13, 2025
Earnings Call Sentiment|Positive
Hagerty, Inc. reported strong revenue and membership growth, impressive operating income increases, and significant advancements in technology and digital transformation. Despite some setbacks from catastrophe claims and increased costs due to strategic investments, the company's positive outlook for 2025 and efforts to enhance scalability and efficiency point to a promising future.Company Guidance
In the fourth quarter of 2024, Hagerty, Inc. reported robust financial performance, marking the eighth consecutive quarter of executing its strategic growth initiatives. The company achieved a 19% increase in total revenue, reaching $292 million, and a 13% rise in written premiums, driven by strong new business and a retention rate of 89%. Operating income soared sixfold to $66 million, despite a $27 million impact from natural disasters. The company's net income surged by 178% to $78 million, with adjusted EBITDA growing by 41% to $124 million. Looking ahead to 2025, Hagerty anticipates a 12% to 13% growth in total revenue and a 30% to 40% increase in net income, aiming for $102 million to $110 million. The company plans to invest over $20 million in technology upgrades to support scalable growth and enhance efficiency, with expectations to double its policy count to 3 million by 2030.Record Revenue and Growth
Hagerty, Inc. achieved a revenue growth of 20% in 2024, with a written premium gain of 15%. The company welcomed a record 279,000 new members, demonstrating strong performance in their recurring revenue model.
Impressive Operating Income Increase
Operating income increased sixfold to $66 million in 2024, despite a $27 million impact from Hurricane Celine and Milton.
Technology and Digital Transformation
Hagerty, Inc. is transitioning to a modern cloud-based architecture to drive future efficiency gains and scalable growth, with an investment of over $20 million in 2025 for technology replatforming.
Strong Membership and Marketplace Growth
Membership, marketplace, and other revenue grew 68% in the fourth quarter, reflecting successful expansion efforts, particularly with the Broad Arrow team and European business.
Positive 2025 Outlook
Hagerty, Inc. anticipates 13% to 14% growth in written premiums and 12% to 13% growth in total revenue for 2025, with a focus on expanding specialty insurance offerings and the State Farm Classic Plus program.
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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 |
|---|---|---|---|
| Mar 04, 2025 | $10.01 | $9.90 | -1.10% |
| 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% |
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 May 13, 2025, TBA Not Confirmed.
What is Hagerty Inc Class A (HGTY) earnings time?
Hagerty Inc Class A (HGTY) earnings time is at May 13, 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 2025 (Q1) is 0.02.
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