Hagerty beats Q2 revenue, EPS estimates
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
