Hagerty

Hagerty, Inc. engages in the provision of automotive insurance services. It offers insurance for classic and enthusiast vehicles. The company is headquartered in Traverse City, MI.

Earnings data Q4 2021

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Earnings data Q4 2024

Hagerty reports strong Q4 earnings, eyes profitability in 2023

Hagerty's Q4 2022 performance reflects solid revenue growth and progress towards profitability in 2023 through operational enhancements.
While facing financial challenges in the short term, the company's strategic initiatives and projected EBITDA improvement indicate a positive trajectory.
Analyst inquiries and management's responses underscore the importance of continued operational optimization and expense management for sustained success.

Hagerty reports strong Q1 growth and profitability outlook for 2023

Hagerty's Q1 2023 performance reflects robust revenue growth and positive adjusted EBITDA, underlining its strategic focus on expansion and profitability.
While facing challenges such as operating losses and non-operating impacts on net income, the company is actively addressing cost management and operational efficiency.
Opportunities lie in the projected revenue growth for 2023 and strategic initiatives like the State Farm integration, positioning Hagerty for sustained growth and market leadership.

Hagerty reports robust Q2 earnings, eyes growth through partnerships

Hagerty's Q2 2023 earnings call showcased strong financial performance, with notable revenue growth, profitability, and strategic partnerships driving the company's growth trajectory. While challenges exist in a competitive market, Hagerty's focus on efficiency and revenue diversification positions it well for future success. The company's increased revenue and EBITDA outlooks signal confidence in its ability to deliver sustained growth and profitability.

Hagerty reports robust Q3 earnings, eyes marketplace growth opportunities

Hagerty's Q3 2023 earnings call highlighted a strong financial performance, with revenue growth, improved EBITDA, and a focus on operational efficiency and profitability.
The company's solid financial standing, reinforced by a top-tier financial strength rating, positions them well for sustained growth and market credibility.
Optimism about future growth opportunities, especially in the marketplace segment, underscores Hagerty's strategic vision and potential for continued success.

Hagerty achieves $1B revenue milestone, eyes growth and profitability

Hagerty's Q4 2023 performance showcased robust revenue growth, improved margins, and a positive EBITDA turnaround, underlining its operational strength.
While facing challenges such as operational losses and the need for sustained profitability, Hagerty's strategic priorities for 2024 signal a focus on growth and efficiency.
With a positive outlook for 2024 and a strong foundation in place, Hagerty is poised to capitalize on opportunities for revenue expansion and market leadership.

Hagerty reports robust Q1 growth and reaffirms strong 2024 outlook

Hagerty's Q1 performance reflects strong revenue growth, improved margins, and a positive outlook for 2024.
The company's emphasis on customer experience, loyalty, and strategic initiatives positions it well for future growth.
While challenges exist in sustaining growth and managing partnerships, Hagerty's focus on opportunities for expansion and profitability bodes well for its long-term prospects.

Hagerty reports robust Q2 performance, eyes growth through strategic priorities

Hagerty's Q2 2024 performance reflects strong growth, financial health, and strategic actions to simplify its business and drive future expansion.
The company's focus on loyalty, member experience, and marketplace development aligns with its priorities for sustained growth and profitability.
With an increased outlook for revenue growth and adjusted EBITDA, Hagerty is poised for continued success in 2024 amidst market challenges and opportunities.

Hagerty reports strong Q3 performance and strategic growth outlook

Hagerty's Q3 2024 performance reflects a company on a growth trajectory, with a focus on member experience and sustained profitability.
Despite operational challenges, Hagerty's financial results demonstrate resilience and a strategic outlook for continued success in 2024.
By leveraging its strengths, addressing challenges, and seizing opportunities, Hagerty is poised to navigate market dynamics and drive future growth.

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TRAVERSE CITY, Mich. , July 23, 2024 /PRNewswire/ -- Hagerty, Inc. (NYSE: HGTY), an automotive enthusiast brand and a leading specialty vehicle insurance provider, today announced it will report its second quarter 2024 financial results before the market opens on Tuesday, August 6, 2024.

Hagerty to Report Second Quarter 2024 Results and Host Conference Call on Tuesday, August 6, 2024

Hagerty's 'Future of Driving' survey shows the generational shift from Boomers to Gen Z is here;  younger generations want to own and drive collectible cars TRAVERSE CITY, Mich. , July 23, 2024 /PRNewswire/ -- Hagerty's 2024 "Future of Driving" survey indicates a strong and growing interest in collector cars, trucks and motorcycles among Gen-Z, defined as those born between 1997 and 2012.

Meet Gen-Z, America's Next Generation of Car Collectors

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BTG, KGC, TTDKY, HGTY and VIRC have been added to the Zacks Rank #1 (Strong Buy) List on July 22, 2024.

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Hagerty (HGTY) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Earnings Estimates Rising for Hagerty (HGTY): Will It Gain?

Grosse Pointe, Michigan, July 12, 2024 (GLOBE NEWSWIRE) -- 1913 Mercer 35-J Raceabout with Single Family Ownership Since 1959 Highlights Brass Era Brilliance at the Upcoming Broad Arrow Monterey Jet Center Auction

1913 Mercer 35-J Raceabout with Single Family Ownership Since 1959 Highlights Brass Era Brilliance at the Upcoming Broad Arrow Monterey Jet Center Auction

BOSTON--(BUSINESS WIRE)-- #BOSpoli--Vicinity Energy, a leading provider of sustainable energy solutions, is pleased to announce the appointment of Kevin Hagerty as the company's new chief executive officer and president. Bill DiCroce has led Vicinity and its predecessors as CEO and president since 2012 and will stay on as executive chairman of Vicinity's Board of Directors. Bill DiCroce's long tenure as CEO and president has been marked by significant accomplishments, shaping the district energy portfolio.

Vicinity Energy Announces Bill DiCroce's Passing of the Baton to Kevin Hagerty as the New CEO

Grosse Pointe, MI, July 09, 2024 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is thrilled to announce the addition of a fourth and final U.S.-based auction for the 2024 calendar year that will see approximately 100 collector cars crossing the block as part of the 2024 Chattanooga Motorcar Festival. The partnership unites the fast-growing Motoring Festival, now in its fifth year, alongside a Broad Arrow boutique auction set to feature a wide array of collector cars on October 12, 2024.

Broad Arrow Auctions Announces Partnership with the Chattanooga Motorcar Festival, Will Host Collector Car Auction Alongside Festival Programming for 2024

TRAVERSE CITY, Mich. , July 3, 2024 /PRNewswire/ -- Hagerty, Inc. (NYSE: HGTY) (the " Company " or " Hagerty "), an automotive enthusiast brand and leading specialty vehicle insurance provider, announced today the expiration and results of its previously announced exchange offer (the " Offer ") and consent solicitation (the " Consent Solicitation ") relating to its outstanding (i) public warrants (the " Public Warrants "), (ii) private placement warrants (the " Private Warrants "), (iii) underwriter warrants (the " Underwriter Warrants "), (iv) OTM warrants (the " OTM Warrants " and together with the Private Warrants and the Underwriter Warrants, the " Private Placement Warrants ") and (v) PIPE warrants (the " PIPE Warrants " and, together with the Public Warrants and the Private Placement Warrants, the " Warrants ").

Hagerty Announces Expiration and Results of Warrant Exchange Offer and Consent Solicitation

Hagerty (HGTY) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Hagerty (HGTY) Soars 6.3%: Is Further Upside Left in the Stock?

Weekend-long campaign includes exclusive member experiences, discounts and contests TRAVERSE CITY, Mich. , June 13, 2024 /PRNewswire/ -- Hagerty, Inc. (NYSE: HGTY), an automotive enthusiast brand and leading specialty vehicle insurance provider, is hosting Hagerty Drivers Club "HDC Days," a celebration of the largest automotive membership in the world and ultimate community for car lovers, from Friday, June 21 through Sunday, June 23.

Hagerty Drivers Club Launches "HDC Days" Celebration for its 830,000 Members from June 21- 23

Grosse Pointe, Michigan, June 11, 2024 (GLOBE NEWSWIRE) -- June 11, 2024 – Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, proudly presents the 1957 Maserati 200si by Fantuzzi, chassis number 2415 and estimated at $3,300,000 - $3,600,000, as the latest headline-grabbing consignment for the 2024 Monterey Jet Center Auction at Motorlux.

Mille Miglia Veteran and Perennial Race Competitor 1957 Maserati 200si by Fantuzzi Adds Historic Racing Heritage to the 2024 Broad Arrow Monterey Auction

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TRAVERSE CITY, Mich. , June 3, 2024 /PRNewswire/ -- Hagerty, Inc. (NYSE: HGTY) (the " Company " or " Hagerty "), an automotive enthusiast brand and leading specialty vehicle insurance provider, announced today that it has commenced an exchange offer (the " Offer ") and consent solicitation (the " Consent Solicitation ") relating to its outstanding (i) public warrants (the " Public Warrants "), (ii) private placement warrants (the " Private Warrants "), (iii) underwriter warrants (the " Underwriter Warrants "), (iv) OTM warrants (the " OTM Warrants " and collectively with the Private Warrants and the Underwriter Warrants, the " Private Placement Warrants ") and (v) PIPE warrants (the " PIPE Warrants " and, together with the Public Warrants and the Private Placement Warrants, the " Warrants ").

Hagerty Commences Warrant Exchange Offer and Consent Solicitation

A record 12,000 automotive enthusiasts & residents celebrated car culture during the three-day motoring event GREENWICH, Conn. , June 3, 2024 /PRNewswire/ -- A 1931 Cadillac 452A was chosen as this year's Best of Show at the 28th annual Greenwich Concours d'Elegance and the Barris-Built 1957 Chevrolet 210 'El Capitola' was chosen as Best of Show at Saturday's Concours de Sport.

Elegant 1931 Cadillac 452A Named Best of Show at the Greenwich Concours d'Elegance

TRAVERSE CITY, Mich. , May 31, 2024 /PRNewswire/ -- Hagerty (NYSE: HGTY) announced today that Jeff Briglia has been named Hagerty's new President of Insurance, effective July 1, 2024, to lead all aspects of the company's insurance operations.

Hagerty Appoints Jeff Briglia as President of Insurance

Hagerty Inc. (NYSE:HGTY ) Q1 2024 Earnings Conference Call May 7, 2024 10:00 AM ET Company Participants Jay Koval - Senior Vice President of Investor Relations McKeel Hagerty - CEO & Director Patrick McClymont - Chief Financial Officer Conference Call Participants Mark Hughes - Truist Securities Pablo Singzon - JPMorgan Operator Greetings and welcome to the Hagerty First Quarter 2024 Earnings Call. This time, all participants are in a listen-only mode, and a question-and-answer session will follow the formal presentation.

Hagerty Inc. (HGTY) Q1 2024 Earnings Call Transcript

Hagerty, Inc. (HGTY) came out with quarterly earnings of $0.04 per share, beating the Zacks Consensus Estimate of $0.03 per share. This compares to loss of $0.04 per share a year ago.

Hagerty, Inc. (HGTY) Surpasses Q1 Earnings and Revenue Estimates

First quarter 2024 Total Revenue increased 24% year-over-year to $271.7 million First quarter 2024 Written Premium increased 19% year-over-year to $218.3 million First quarter 2024 Operating Income margin expanded by 1,210 bps compared to the prior year period First quarter 2024 Net Income of $8.2 million, an increase of $23.2 million compared to the prior year period First quarter 2024 Adjusted EBITDA (a non-GAAP measure) of $27.3 million, an increase of $20.6 million compared to the prior year period Delivered Policies in Force Retention of 88.7% and achieved insurance Net Promoter Score of 82 Reaffirmed 2024 Outlook for 15-17% Total Revenue growth, 116-148% Net Income growth and 41-53% Adjusted EBITDA growth TRAVERSE CITY, Mich. , May 7, 2024 /PRNewswire/ -- Hagerty, Inc. (NYSE: HGTY), an automotive enthusiast brand and leading specialty vehicle insurance provider, announced today financial results for the three months ended March 31, 2024.

Hagerty Reports First Quarter 2024 Results; Reaffirms 2024 Outlook for Strong Growth and Margin Expansion

Featured classes in Saturday's Concours de Sport include The Cars of Alejandro De Tomaso, Performance Station Wagons and Racecars of Thompson Speedway; Sunday Concours d'Elegance will feature Bertone, Porsche Carrera and Lamborghini TRAVERSE CITY, Mich. , April 26, 2024 /PRNewswire/ -- The Greenwich Concours d'Elegance , an annual enthusiast motoring event, features a meticulously curated selection of vehicles, embodying the pinnacle of automotive design and engineering from May 31st to June 2nd in Greenwich, Connecticut.

Esteemed Contemporary Architect Steven Harris Named Grand Marshal of Greenwich Concours d'Elegance

TRAVERSE CITY, Mich. , April 23, 2024 /PRNewswire/ -- Hagerty, Inc. (NYSE: HGTY), an automotive enthusiast brand and a leading specialty vehicle insurance provider, today announced it will report its first quarter 2024 financial results before the market opens on Tuesday, May 7, 2024.

Hagerty to Report First Quarter 2024 Results and Host Conference Call on Tuesday, May 7, 2024

Supporting the community known for killer cars and fly attire, Mobil 1 Totally RAD Live features concert series, awesome cars, and fashion of the '80s and '90s plus new awards TRAVERSE CITY, Mich. , April 22, 2024 /PRNewswire/ -- RADwood, the original automotive lifestyle event celebrating the '80s and '90s, is getting radder thanks to its newest title sponsor, Mobil 1, the world's leading synthetic motor oil.

Mobil 1™ Announced as Title Sponsor of RADwood 2024 and New Mobil 1 Totally RAD Live Festival Experience

Hagerty (HGTY) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

Strength Seen in Hagerty (HGTY): Can Its 5.8% Jump Turn into More Strength?

TRAVERSE CITY, Mich. , March 27, 2024 /PRNewswire/ -- Hagerty, Inc. (NYSE: HGTY), an automotive enthusiast brand and leading specialty vehicle insurance provider, is celebrating its 40th anniversary this year with the launch of a year-long creative campaign titled "Keepers of the Flame.

News for Hagerty Stock (HGTY)