Hagerty beats Q2 revenue, EPS estimates

Hagerty

04/08/2025 11:59

Overview

Hagerty Q2 2025 revenue grows 18% yr/yr, beating analysts' expectations

Adjusted EPS and EBITDA for Q2 beat consensus

Raises full-year growth outlook

Outlook

Hagerty raises 2025 revenue growth outlook to 13%-14%

Company expects 2025 net income growth of 43%-53%

Hagerty anticipates 2025 adjusted EBITDA growth of 30%-38%

Company forecasts 2025 written premium growth of 13%-14%

Result Drivers

MARKETPLACE REVENUE - Marketplace revenue surged 327% due to higher inventory sales and European auction at Concorso d'Eleganza Villa d'Este

WRITTEN PREMIUM - Written premium increased 11% year-over-year, contributing to overall revenue growth

TECHNOLOGY INVESTMENTS - Investments in technology platforms like Duck Creek expected to enhance margins and support future growth

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$368.70 mln
$347.20 mln (2 Analysts)
Q2 Adjusted EPS
Beat
$0.13
$0.11 (3 Analysts)
Q2 Net Income
$47.20 mln
Q2 Adjusted EBITDA
Beat
$63.70 mln
$50.40 mln (2 Analysts)
Q2 Basic EPS
$0.09
Q2 EBIT
$47.70 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the property & casualty insurance peer group is "buy."

Wall Street's median 12-month price target for Hagerty Inc is $11.00, about 8.9% above its August 1 closing price of $10.02

The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 26 three months ago

Press Release: ID:nPn5sxLw1a

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)