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

Earnings data Q1 2022

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Earnings data Q2 2023

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Earnings data Q3 2024

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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Third quarter 2023 Total Revenue increased 27% to $275.6 million compared to the prior year period and year-to-date 2023 Total Revenue increased 28% to $755.2 million compared to the prior year period Third quarter 2023 Written Premium increased 15% year-over-year to $255.6 million, and year-to-date 2023 Written Premium increased 16% to $714.3 million compared to the prior year period Third quarter 2023 Membership, marketplace and other revenue increased 37% year-over-year to $32.6 million, and year-to-date 2023 Membership, marketplace and other revenue increased 47% to $82.7 million compared to the prior year period Third quarter 2023 Net Income decreased 23% to $18.6 million compared to the prior year period, and year-to-date 2023 Net Income decreased 45% to $19.1 million compared to the prior year period Third quarter 2023 Adjusted EBITDA of $37.4 million, an increase of $47.4 million compared to the prior year period, and year-to-date 2023 Adjusted EBITDA of $78.4 million, an increase of $78.4 million compared to the prior year period TRAVERSE CITY, Mich. , Nov. 8, 2023 /PRNewswire/ -- Hagerty, Inc. (NYSE: HGTY), an automotive lifestyle brand and a leading specialty insurance provider focused on the global automotive enthusiast market, today announced financial results for the three and nine months ended September 30, 2023.

Hagerty Reports Third Quarter 2023 Results; Increases 2023 Outlook

MIAMI--(BUSINESS WIRE)--duPont REGISTRY Group, Driven Lifestyle's luxury ecosystem for the high-end automotive lifestyle, announces today the launch of duPont REGISTRY Insurance, a licensed insurance agency. The new luxury automotive insurance division offers the highest quality coverage and white glove service for high-end car owners through products offered by Hagerty (NYSE: HGTY). As the latest offering in the duPont REGISTRY Group portfolio, duPont REGISTRY Insurance serves the insurance ne.

duPont REGISTRY Group Partners with Hagerty to Launch Luxury Automotive Insurance Offering

TRAVERSE CITY, Mich., Oct. 11, 2023 /PRNewswire/ -- Hagerty, Inc. (NYSE: HGTY), an automotive lifestyle brand and a leading specialty insurance provider focused on the global automotive enthusiast market, today announced it will report its third quarter 2023 financial results before the market opens on Wednesday, November 8, 2023.

Hagerty to Report Third Quarter 2023 Results and Host Conference Call on Wednesday, November 8, 2023

OLDWICK, N.J.--(BUSINESS WIRE)-- #insurance--AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Hagerty Reinsurance Limited (Hagerty Re) (Hamilton, Bermuda). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect Hagerty Re's balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM). T.

AM Best Assigns Credit Ratings to Hagerty Reinsurance Limited

The Hagerty Power List investigates the impact celebrity ownership and association have on the market value of a vehicle, in some cases rising as much as 16,000 percent Power List looks at a variety of sectors including Art Cars, Racing Drivers, Movie and TV, Musicians, Royalty, Celebrities, and Athletes Movie cars appear from the likes of Smokey and the Bandit, Wayne's World, Herbie, and Ghostbusters Cars of music stars such as Freddie Mercury, Justin Bieber, and Frank Sinatra are featured, along with celebrity cars owned by the likes of Simon Cowell, Bruce Willis, and Sean Connery Power List also features the cars of Princess Diana, David Beckham, Shaquille O'Neal, and Carroll Shelby, reflecting the impact their ownership has on sales value 400 sales of important vehicles were analyzed by Hagerty data experts to deliver the definitive list – which can be read here TRAVERSE CITY, Mich. , Aug. 31, 2023 /PRNewswire/ -- Hagerty announced today its 2023 Power List which tracks celebrity car influence by analyzing the increase (and sometimes decrease) in value by comparing stars' cars with their standard equivalent at the time.

Hagerty launches 2023 Power List, highlights the dramatic effect celebrity ownership has on enthusiast car values

Live Webcast Available TRAVERSE CITY, Mich. , Aug. 30, 2023 /PRNewswire/ -- Hagerty, Inc. (NYSE: HGTY), an automotive lifestyle brand and a leading specialty insurance provider focused on the global automotive enthusiast market, today announced it will present at the KBW Insurance Conference at 2:20 p.m.

Hagerty to Participate in the KBW Insurance Conference on September 7th, 2023

Hagerty, Inc. (NYSE:HGTY ) Q2 2023 Earnings Conference Call August 8, 2023 10:00 AM ET Company Participants Jason Koval - Senior Vice President, Investor Relations McKeel Hagerty - Chief Executive Officer Patrick McClymont - Chief Financial Officer Conference Call Participants Mark Hughes - Truist Securities Sidney Schultz - Raymond James Financial, Inc. Pablo Singzon - JPMorgan Chase & Co. Operator Greetings, and welcome to the Hagerty Second Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode.

Hagerty, Inc. (HGTY) Q2 2023 Earnings Call Transcript

Hagerty, Inc. (HGTY) came out with quarterly earnings of $0.05 per share, beating the Zacks Consensus Estimate of $0.04 per share. This compares to loss of $0.07 per share a year ago.

Hagerty, Inc. (HGTY) Q2 Earnings and Revenues Beat Estimates

Second quarter 2023 Total Revenue increased 27% to $261.2 million compared to the prior year period and year-to-date 2023 Total Revenue increased 28% to $479.6 million compared to the prior year period Second quarter 2023 Written Premium increased 16% year-over-year to $275.9 million, and year-to-date 2023 Written Premium increased 17% to $458.7 million compared to the prior year period Second quarter 2023 Membership, marketplace and other revenue increased 44% year-over-year to $23.6 million, and year-to-date 2023 Membership, marketplace and other revenue increased 53% to $50.1 million compared to the prior year period Second quarter 2023 Net Income (Loss) increased 380% to $15.5 million compared to the prior year period, and year-to-date 2023 Net Income (Loss) decreased 95% to $0.5 million compared to the prior year period Second quarter 2023 Adjusted EBITDA of $34.4 million, an increase of $18.3 million compared to the prior year period, and year-to-date 2023 Adjusted EBITDA of $41.1 million, an increase of $31.0 million compared to the prior year period Raised $105 million of capital on June 23, 2023, including $80.0 million of convertible preferred equity and a $25.0 million commitment of long-term financing for Hagerty Reinsurance Limited TRAVERSE CITY, Mich. , Aug. 8, 2023 /PRNewswire/ -- Hagerty, Inc. (NYSE: HGTY), an automotive lifestyle brand and a leading specialty insurance provider focused on the global automotive enthusiast market, today announced financial results for the three and six months ended June 30, 2023.

Hagerty Reports Second Quarter 2023 Results; Increases 2023 Outlook

TRAVERSE CITY, Mich. , Aug. 2, 2023 /PRNewswire/ -- Hagerty, Inc., (NYSE: HGTY) an automotive lifestyle brand and a leading specialty insurance provider, announced today that it has named Diana M.

Hagerty names Diana Chafey as new Chief Legal Officer, announces General Counsel Barbara Matthews' retirement from Hagerty

The automotive and aviation celebration will also feature icons like the 2023 Cadillac V-Series.R, the Airbus Corporate Jets TwoTwenty, and hundreds of cars including a selection from the Broad Arrow RADIUS Auction. TRAVERSE CITY, Mich.

Motorlux Features Automotive-Themed Culinary Pairings, First-Class Aircraft Display, and Expanded Experiences

TRAVERSE CITY, Mich. , July 25, 2023 /PRNewswire/ -- Hagerty Marketplace, a leading platform for automotive enthusiasts and collectors, emerges as a strong place to buy and sell collectible cars through both classifieds and online auctions offerings.

Hagerty Marketplace Shares 2023 Online Auction Performance Highlights, Summer Consignment News

Leading battery management company to offer member discounts CHICAGO , July 20, 2023 /PRNewswire/ -- CTEK, the leading global brand in vehicle charging solutions, and Hagerty, an automotive lifestyle brand, today announced that Hagerty has selected CTEK as battery charging partner for Hagerty Drivers Club members."Through the partnership, CTEK will offer Hagerty Drivers Club members in the U.S. a discount on a wide range of products and accessories.

CTEK And Hagerty Drivers Club Partner To Provide Charging Solutions, Member Benefits

TRAVERSE CITY, Mich. , July 13, 2023 /PRNewswire/ -- The Detroit Concours, a celebration of the city and the automotive culture that defines it, today announced 'Powered by Detroit,' a campaign which honors the people who put the world on wheels by highlighting their vehicles and stories.

Detroit Concours Announces 'Powered by Detroit' Campaign Honoring People Who Put the World on Wheels

Broad Arrow Auctions to offer an additional 25 cars during the Monterey Jet Center Auction August 17 and 18 as part of Motorlux The Hendricks Collection at the Gateway Museum includes many of the most prized and impeccably preserved historic cars in the country The collection is live now on Hagerty Marketplace, with lots ending from July 31 to August 11 View the entire collection and register to bid at www.hagerty.com/marketplace TRAVERSE CITY, Mich. , July 13, 2023 /PRNewswire/ -- Hagerty, Inc., (NYSE: HGTY) an automotive lifestyle brand and a leading specialty insurance provider alongside Broad Arrow Auctions, today announced the Hendricks Collection at the Gateway Museum is now available online through Hagerty Marketplace, a trusted, easy-to-use platform to buy and sell automobiles.

Show-Quality Motor Cars from the Hendricks Collection of the Gateway Museum Available Online Now on Hagerty Marketplace Auctions

TRAVERSE CITY, Mich. , July 11, 2023 /PRNewswire/ -- Hagerty, Inc. (NYSE: HGTY), an automotive lifestyle brand and a leading specialty insurance provider focused on the global automotive enthusiast market, today announced it will report its second quarter 2023 financial results before the market opens on Tuesday, August 8, 2023.

Hagerty to Report Second Quarter 2023 Results and Host Conference Call on Tuesday, August 8, 2023

Proceeds for Profitable Growth Initiatives TRAVERSE CITY, Mich. , June 23, 2023 /PRNewswire/ -- Hagerty, Inc. (NYSE: HGTY), an automotive lifestyle brand and a leading specialty insurance provider focused on the global automotive enthusiast market, today announced that the company is raising $105 million in capital from existing strategic investors including State Farm, Markel Group and the Hagerty family.

Hagerty Raises $105 Million in Capital from Strategic Investors

DETROIT , June 20, 2023 /PRNewswire/ -- The Detroit Concours returns to the Motor City this year on Friday, September 22, and Saturday, September 23, for a two-day event celebrating automotive Americana. Guests will experience car culture with hands-on-the-wheel opportunities, automotive activities for all ages, Detroit-centric car love and a Concours show field filled with 150 rare vehicles.

Detroit Concours Announces Details for 2023 Event, Two Day Celebration of American Automotive Culture

1965 Ford GT40 Mk I wins  Best of  Show at Saturday Concours de Sport GREENWICH, Conn. , June 6, 2023 /PRNewswire/ -- A 1937 Alfa Romeo 8C 2900 B was chosen as this year's Best of Show at the 27th annual Greenwich Concours d'Elegance.

1937 Alfa Romeo 8C 2900 B Celebrated as Best of Show at 27th Annual Greenwich Concours d'Elegance

Revelations: Untold Stories of Automotive Legends Lands Gold for Video Journalism, Online Series TRAVERSE CITY, Mich. , May 31, 2023 /PRNewswire/ -- Last week The Telly Awards announced their 2023 winners, with Hagerty Media receiving eight awards recognizing their online series and individual episodes.

Hagerty Media Wins Big at 44th Annual Telly Awards

Hagerty, Inc. (HGTY) Q1 2023 Earnings Conference Call May 9, 2023 10:00 AM ET Corporate Participants Jay Koval - Senior Vice President, Investor Relations McKeel Hagerty - Chief Executive Officer Patrick McClymont - Chief Financial Officer Conference Call Participants Mark Hughes - Truist Sid Schultz - Raymond James Pablo Singzon - JPMorgan Operator Greetings, and welcome to the Hagerty First Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode.

Hagerty, Inc. (HGTY) Q1 2023 Earnings Call Transcript

Hagerty, Inc. (HGTY) came out with a quarterly loss of $0.04 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.01 per share a year ago.

Hagerty, Inc. (HGTY) Reports Q1 Loss, Tops Revenue Estimates

On Track to Deliver Strong Growth and Improved Profitability in 2023 First quarter 2023 Total Revenue increased 30% year-over-year to $218.4 million First quarter 2023 Written Premium increased 18% year-over-year to $182.9 million First quarter 2023 Membership, marketplace and other revenue increased 63% year-over-year to $26.5 million First quarter 2023 Net Income (Loss) was $(15.0) million compared to $15.9 million in the prior year period First quarter 2023 Adjusted EBITDA of $6.7 million, an increase of $12.7 million compared to $(6.0) million in the prior year period TRAVERSE CITY, Mich. , May 9, 2023 /PRNewswire/ -- Hagerty, Inc. (NYSE: HGTY), an automotive lifestyle brand and a leading specialty insurance provider focused on the global automotive enthusiast market, today announced financial results for the three months ended March 31, 2023.

Hagerty Reports First Quarter 2023 Results

67 classic sports and racing cars took to the scenic California hills to celebrate driving and car culture over the course of five days and 1,000 miles TRAVERSE CITY, Mich. , May 8, 2023 /PRNewswire/ -- The California Mille, a 1,000-mile driving tour through the hills of Central and Northern California, celebrated its 32nd running April 23rd to April 27th.

California Mille Celebrates 32 Years of Epic Scenery, Comradery and Driving

Sunday's traditional Concours d'Elegance features a selection of the world's best classic luxury and sports cars while the new Saturday Concours de Sport will host later model sports and supercars TRAVERSE CITY, Mich. , May 4, 2023 /PRNewswire/ -- The Greenwich Concours returns to Roger Sherman Baldwin Park June 3 and 4, 2023 for a two-day celebration of automobiles of all types.

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