Hagerty Q2 revenue tops estimates on premium growth

Hagerty

05/08/2026 12:04

Overview
US specialty vehicle insurer's Q2 revenue fell 6% yr/yr but beat analyst expectations
Adjusted loss per share for Q2 beat analyst estimates
Company raised 2026 growth outlook after record member and written premium growth

Outlook
Hagerty raises 2026 written premium growth outlook to 16%-17%
Company now sees 2026 net income of $18 mln to $30 mln
2026 adjusted EBITDA forecast raised to $270 mln-$280 mln

Result Drivers
PREMIUM GROWTH - Written and earned premium rose sharply, driven by record new member additions and policy growth
MARKEL FRONTING ARRANGEMENT - Transition to new arrangement reduced reported revenue by eliminating commission revenue, but Hagerty now retains 100% of premium and risk on U.S. book
MARKETPLACE REVENUE - Marketplace revenue increased 48% yr/yr in Q2, supported by strong auction sales and higher financing revenue

Company press release: ID:nPnxBp22a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$354.82 mln
$314.13 mln (5 Analysts)
Q2 Adjusted Loss Per Share
Beat
$0.02
$0.09 (7 Analysts)
Q2 Net Income
 
$8 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "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 $14.00, about 19.5% above its August 4 closing price of $11.72
The stock recently traded at 42 times the next 12-month earnings vs. a P/E of 35 three months ago

Reuters Recommended Reads
Aug 4 - American Financial Group Q2 revenue beats, helped by premium growth
Aug 4 - Skyward Specialty Q2 operating EPS rises on premium growth
Aug 4 - Mercury General Q2 net income rises, combined ratio improves

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)