NYSE$HGTY
Hagerty Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Hagerty's transformation to a more efficient business model led to improved profitability and growth, supported by strong full-year results.
Hagerty reported strong full-year results, driven by a transformation to a more efficient business model. Total revenue grew by 27% on top of the previous year's 27% growth, with written premiums up by 17%. The company is focused on improving customer experience and expanding operating margins.
- Hagerty underwent a transformation to improve profitability while maintaining growth.
- Full-year revenue grew by 27% for the second consecutive year.
- Written premiums increased by 17%.
- The company aims to further expand operating margins through customer experience improvements and smart technology investments.
Headline financials
Revenue & EPS history
Hagerty · Revenue · Quarterly
$245M
Revenue by segment
Hagerty · $152M total across 2 segments · Q1 2022
- Earned premium$89.1M—58.8%
- Commission & fee$62.5M—41.2%
Forward guidance
Hagerty anticipates a trajectory similar to 2023, expecting another year of double-digit growth by increasing its share of the car enthusiast market and aiming to surpass prior peak margins through continuous improvements and technology investments.
Tailwinds
- Double-digit compounding growth expected.
- Increase market share among 67 million car enthusiasts.
- Work toward and surpass prior peak margins.
- Improve customer experience.
- Expand operating margins.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2023
+1.3%
Avg return
Earnings day
+1.1%
Avg return
5 days after
+6.2%
Avg return
30 days after
58%
11 / 19 earnings
Positive
+10.0%
Q3 2023
Best reaction
-5.5%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.1% | -2.8% | +0.8% | |
| Q4 2025 | +4.3% | -8.9% | -10.6% | |
| Q3 2025 | -1.8% | +10.1% | +12.8% | |
| Q1 2025 | +7.0% | +6.0% | +12.8% | |
| Q4 2024 | -0.9% | -2.4% | -12.7% | |
| Q3 2024 | -5.5% | -5.8% | -5.9% | |
| Q2 2024 | -4.8% | -2.5% | +7.7% | |
| Q1 2024 | +1.7% | -2.2% | +8.5% | |
| Q4 2023 | +0.1% | -5.6% | -5.2% | |
| Q3 2023 | +10.0% | +9.2% | +10.1% | |
| Q2 2023 | +0.1% | +7.9% | +1.2% | |
| Q1 2023 | +5.1% | -2.3% | +1.1% | |
| Q4 2022 | -0.4% | +6.9% | +7.1% | |
| Q3 2022 | +7.6% | +1.5% | -1.5% | |
| Q2 2022 | +3.6% | +18.8% | +1.9% | |
| Q1 2022 | +1.3% | +10.7% | +32.7% | |
| Q4 2021 | -0.7% | -17.3% | -29.3% | |
| Q3 2021 | -0.1% | +0.0% | +82.9% | |
| Q2 2021 | +0.5% | -1.0% | +2.8% | |
| Q1 2021 | — | — | — | |
| Q4 2020 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro