Specialty vehicle insurer Hagerty beats Q3 estimates, hikes FY forecast

Reuters11-04
Specialty vehicle insurer <a href="https://laohu8.com/S/HGTY">Hagerty</a> beats Q3 estimates, hikes FY forecast

Overview

  • Hagerty Q3 2025 revenue grows 18% yr/yr, beating analyst expectations

  • Adjusted EPS for Q3 2025 beats consensus, reflecting strong performance

  • Company raises 2025 outlook for revenue, net income, and adjusted EBITDA growth

Outlook

  • Hagerty raises 2025 total revenue growth outlook to 14-15%

  • Company expects 2025 net income growth of 58-65%

  • Hagerty anticipates 2025 adjusted EBITDA growth of 37-41%

Result Drivers

  • MARKETPLACE REVENUE - Q3 Marketplace revenue increased 58% yr/yr, driven by higher inventory sales and European auctions

  • OPERATING INCOME SURGE - Operating income rose 240% yr/yr, attributed to expanded margins and cost discipline

  • PARTNERSHIP WITH LIBERTY MUTUAL - New partnership with Liberty Mutual, the seventh largest auto insurer in the US, expected to enhance market position

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$380 mln

$354.74 mln (5 Analysts)

Q3 Adjusted EPS

Beat

$0.13

$0.07 (7 Analysts)

Q3 Net Income

$46.20 mln

Q3 Adjusted EBITDA

Beat

$49.70 mln

$40.54 mln (6 Analysts)

Q3 EBIT

$34.30 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 $13.50, about 16.4% above its November 3 closing price of $11.29

  • The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 27 three months ago

Press Release: ID:nPn9plRDja

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

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment