NYSE$HGTY
Hagerty Inc · Q4 2024 earnings
Q4 2024 earnings · · Before market open · Investor relations
Briefing
Hagerty reported a 19% revenue increase and improved operating income in Q4 2024.
Hagerty's Q4 2024 revenue grew by 19% year-over-year to $291.7 million, driven by strong growth in earned premium and membership revenue. The company achieved operating income of $6.0 million, reversing a loss from the prior year. Net income was $8.4 million, while adjusted EBITDA improved to $19.9 million. Hagerty added 133,000 new members during the quarter and maintained strong customer retention.
- Revenue increased 19% year-over-year to $291.7 million.
- Earned premium grew 14% to $168.4 million.
- Net income reached $8.4 million despite increased loss ratios.
- Adjusted EBITDA improved to $19.9 million, a $10.2 million increase.
Headline financials
Revenue & EPS history
Hagerty · Revenue · Quarterly
$292M
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 expects revenue growth of 12-13% in 2025, driven by a 13-14% increase in written premiums. Net income is projected to grow by 30-40%, while adjusted EBITDA is expected to increase by 21-29% as the company continues investing in technology and efficiency improvements.
Tailwinds
- Expected revenue growth of 12-13% in FY25.
- Written premiums projected to increase 13-14%.
- Net income anticipated to grow 30-40% due to efficiency improvements.
- Investment in technology expected to streamline operations and support growth.
- Expansion of the State Farm Classic Plus program to over 25 states.
Headwinds
- Higher investment spending in technology expected to impact short-term margins.
- Potential impact from regulatory changes in the insurance market.
- Macroeconomic conditions may affect policy growth and premium rates.
- Loss ratios could fluctuate due to catastrophic events and claims activity.
- Competitive pressure in the specialty vehicle insurance segment.
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 2024
+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 | — | — | — |
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