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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May 15 launch marks first single owner private collection offered via Hagerty Marketplace The Retro Motors Collection includes desirable American muscle and high-powered European sports cars The Collection will open for bidding on May 15 in a rolling format, with a selection of cars going live each day First private collection to be offered via Hagerty Marketplace online auction platform Additional information and bidder registration available at hagerty.com/marketplace TRAVERSE CITY, Mich. , April 26, 2023 /PRNewswire/ -- Hagerty, Inc., (NYSE: HGTY) an automotive lifestyle brand and a leading specialty insurance provider, today announced the offering of Hagerty Marketplace online auction's first private collection sale.

Hagerty Marketplace Brings Retro Motors Collection to Online Auction Platform

TRAVERSE CITY, Mich. , April 21, 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 first quarter 2023 financial results before the market opens on Tuesday, May 9, 2023.

Hagerty to Report First Quarter 2023 Results and Host Conference Call on Tuesday, May 9, 2023

Focus: Improving quality of life through environmental, economic and entrepreneurial initiatives TRAVERSE CITY, Mich. , April 6, 2023 /PRNewswire/ -- As part of its ongoing commitment to drive positive impact in the Grand Traverse region, which has served as the company's headquarters since 1984, Hagerty today announced $46,000 in quarterly corporate giving grants.

Hagerty helps Traverse City, Grand Traverse County and the Great Lakes Region thrive through local donations and grant support

The collector car storage, concierge and social club adds its third South Florida location catering to automotive enthusiasts and VIPs MIAMI , March 30, 2023 /PRNewswire/ -- Known as one of the nation's luxury car capitals, Miami continues to see an influx of enthusiasts and their prized possessions. Hagerty Garage + Social is proud to open its third premium clubhouse and car storage facility in South Florida with its Miami location complementing existing locations in Palm Beach and Delray Beach.

HAGERTY GARAGE + SOCIAL OPENS MIAMI CAR CULTURE CLUBHOUSE

Hagerty, Inc. (NYSE:HGTY ) Q4 2022 Earnings Conference Call March 14, 2023 10:00 AM ET Company Participants Jay Koval - Senior Vice President, Investor Relations McKeel Hagerty - Chief Executive Officer Patrick McClymont - Chief Financial Officer Conference Call Participants Sidney Schultz - Raymond James Paul Newsome - Piper Sandler Pablo Singzon - JPMorgan Operator Greetings, and welcome to Hagerty Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode.

Hagerty, Inc. (HGTY) Q4 2022 Earnings Call Transcript

Hagerty, Inc. (HGTY) delivered earnings and revenue surprises of -25% and 0.79%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Hagerty, Inc. (HGTY) Reports Q4 Loss, Lags Revenue Estimates

Provides 2023 Outlook for 22-26% Total Revenue Growth Fourth quarter 2022 Total Revenue increased 28% year-over-year to $197.0 million, and full year 2022 Total Revenue increased 27% year-over-year to $787.6 million Fourth quarter 2022 Written Premium increased 15% year-over-year to $162.0 million, and full year 2022 Written Premium increased 15% year-over-year to $776.7 million Delivered $13.7 million in Marketplace full year 2022 revenue, fueled by the Broad Arrow Group acquisition Increased insurance Net Promoter Score (NPS) to 83 and achieved customer retention of 88% TRAVERSE CITY, Mich. , March 14, 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 and year ended December 31, 2022.

Hagerty Reports Full Year 2022 Results

AMELIA ISLAND, Fla., March 8, 2023 /PRNewswire/ -- A 1935 Voisin C25 Aerodyne and a 1964 Ferrari 250 LM were crowned Best in Show at The Amelia Concours d'Elegance - its 28th annual event.

1935 Voisin C25 Aerodyne and 1964 Ferrari 250 LM Named Best in Show at The Amelia's Record-Setting Motoring Weekend

TRAVERSE CITY, Mich. , March 1, 2023 /PRNewswire/ -- Hagerty, an automotive lifestyle brand and a leading specialty insurance provider focused on the global automotive enthusiast market, has named its Top Gear Agents for 2023, based on their outstanding past year performance.

Hagerty Names its U.S. 'Top Gear' Agents for 2023

TRAVERSE CITY, Mich. , March 1, 2023 /PRNewswire/ -- Hagerty, an automotive lifestyle brand and a leading specialty insurance provider focused on the global automotive enthusiast market, has named its Allstar Advantage Agencies for 2023, based on their outstanding past year performance.

Hagerty Names its Allstar Advantage Agencies for 2023

TRAVERSE CITY, Mich. , Feb. 27, 2023 /PRNewswire/ -- Hagerty (NYSE: HGTY) today announced that the Greenwich Concours, hosted June 2-4, 2023, will return to a two-day competitive format, adding a day of judged competition with a focus on motorsports and performance cars to the existing concours weekend programming.

Greenwich Concours Adds Concours de Sport Saturday, Honors Wayne Carini as Grand Marshal

TRAVERSE CITY, Mich. , Feb. 14, 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 fourth quarter 2022 financial results before the market opens on Tuesday, March 14, 2023.

Hagerty to Report Fourth Quarter 2022 Results and Host Conference Call on Tuesday, March 14, 2023

ECO is part of Hagerty's broader Impact strategy launching this year TRAVERSE CITY, Mich. , Jan. 26, 2023 /PRNewswire/ -- Hagerty  (NYSE: HGTY), an automotive lifestyle brand and a leading specialty insurance provider, today officially launched ECO, a voluntary Enthusiast Carbon Offset program to help motorists reduce the carbon footprint of their collectible cars, trucks and motorcycles in an easy, convenient and transparent way.

Hagerty launches Enthusiast Carbon Offset program

The annual Bull Market list is compiled using data from millions of insured vehicles, public auction results, and historical trends TRAVERSE CITY, Mich. , Dec. 7, 2022 /PRNewswire/ -- Hagerty (NYSE: HGTY), an automotive lifestyle brand and a leading specialty insurance provider, today announced its 2023 U.S. Bull Market list, an annual collection of enthusiast cars and vehicles with the best potential to hold or increase in value in the coming year.

Buy these Enthusiast Vehicles Before They're Hot; Hagerty Announces 2023 U.S. Bull Market List

VAN NUYS, Calif. , Nov. 28, 2022 /PRNewswire/ -- Hagerty, Inc., (NYSE: HGTY) an automotive lifestyle brand and leading specialty insurance provider, announces the opening of Garage + Social Van Nuys, the latest in its growing, national network of enthusiast facilities.

Hagerty Garage + Social Partners with Porsche Racing and Car Culture Legends Patrick Long and Rod Emory to Open Southern California Storage Facility, Clubhouse

Hagerty, Inc. (NYSE:HGTY ) Q3 2022 Earnings Conference Call November 10, 2022 10:00 AM ET Company Participants Jason Koval - Head, IR McKeel Hagerty - CEO Patrick McClymont - CFO Conference Call Participants Mark Hughes - Truist Sidney Schultz - Raymond James Paul Newsome - Piper Sandler Pablo Singzon - JPMorgan Operator Greetings, and welcome to Hagerty's Third Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode.

Hagerty, Inc. (HGTY) Q3 2022 Earnings Call Transcript

Third quarter 2022 Total Revenue increased 29% year-over-year to $216.8 million, and year-to-date 2022 Total Revenue increased 27% year-over-year to $590.6 million Total Members as of September 30, 2022 increased 7% year-over-year to 2.6 million Third quarter 2022 Written Premium increased 16% year-over-year to $222.1 million, and year-to-date 2022 Written Premium increased 15% year-over-year to $614.6 million Net exposure of $10.0 million from Hurricane Ian demonstrates successful risk management TRAVERSE CITY, Mich. , Nov. 10, 2022 /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, 2022.

Hagerty Reports Third Quarter 2022 Results

2019 Ford GT Highlights Grouping of Enthusiast Cars from 1960s to Modern Era TRAVERSE CITY, Mich. , Nov. 3, 2022 /PRNewswire/ -- Hagerty, Inc., (NYSE: HGTY) an automotive lifestyle brand and a leading specialty insurance provider, today launched Hagerty Marketplace online auctions which allows members and enthusiasts to buy and sell automobiles through a trusted, easy-to-use platform.

Hagerty Marketplace Launches Online Auctions with 10-Car Capsule Sale

Driving is an Essential Activity for 238 Million Licensed Drivers in the United States; Together Mobil 1 and Hagerty will Make Every Mile More Meaningful TRAVERSE CITY, Mich. , Nov. 2, 2022 /PRNewswire/ -- In the over-scheduled, over-programmed race of daily life, cars are often viewed as machines used for commuting – the thing that gets us from one place to another.

Mobil 1 and Hagerty Make Their Partnership Official: The Legendary Motorsports and Automotive Brands are on a Mission to Save Driving and Celebrate Car Culture

TRAVERSE CITY, Mich. , Oct. 27, 2022 /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 2022 financial results before the market opens on Thursday, November 10, 2022.

Hagerty to Report Third Quarter 2022 Results and Host Conference Call on Thursday, November 10, 2022

TRAVERSE CITY, Mich. , Sept. 8, 2022 /PRNewswire/ -- Hagerty (NYSE: HGTY), an automotive lifestyle brand and a leading specialty insurance provider focused on the global automotive enthusiast market, is proud to be recognized on Fortune magazine's Best Workplaces in Financial Services and Insurance list.

Hagerty Named to Fortune magazine's Best Workplaces in Financial Services and Insurance list for Fourth Consecutive Year

Live Webcast Available TRAVERSE CITY, Mich. , Sept. 1, 2022 /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 3:15 p.m.

Hagerty to Participate in the KBW Insurance Conference on September 8th, 2022

TRAVERSE CITY, Mich. , Aug. 23, 2022 /PRNewswire/ -- Hagerty (HGTY) announced today that Patrick McClymont has been named Hagerty's next Chief Financial Officer, effective September 6, 2022.

Hagerty Appoints Patrick McClymont as new Chief Financial Officer, Announces Planned Retirement and Transition for Longtime CFO Fred Turcotte

1957 Ferrari 250 GT LWB Berlinetta Scaglietti "Tour de France" tops Broad Arrow's inaugural auction at $5,500,000 Ferrari F50 leads supercar highlights, setting a new world record price of $5,175,000 First appearance of rostrum veteran Lydia Fenet as Broad Arrow's Principal Auctioneer Broad Arrow Auctions calendar continues in October with private collection sale 'Passion for the Drive: The Cars of Jim Taylor' followed by debut of West Palm Beach Auction in November 2022 Hagerty names Broad Arrow Auctions as the official auction house of 'The Amelia' starting in 2023 TRAVERSE CITY, Mich. , Aug. 22, 2022 /PRNewswire/ -- Broad Arrow Auctions, a Hagerty (HGTY) company, today announced that sales from its August 18 live auction at the Monterey Jet Center totaled nearly $55.3 million with 88 percent of all 93 lots on offer sold.

Hagerty's newly acquired Broad Arrow Auctions exceeds expectations with $55.3 million in sales at inaugural Monterey Jet Center event

McKeel Hagerty can't get enough of cars. And he shares his love of motoring through the business that bears his name.

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