Hagerty Inc Class A (HGTY)
NYSE:HGTY
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Earnings Data
Report Date
Aug 11, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.06Last Year’s EPS
0.13Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated robust operational momentum: high single-digit to mid-teens premium growth, record new policy additions, a 77% increase in adjusted EBITDA, strong auction results, and a material structural improvement from assuming 100% of U.S. underwriting economics. The primary negatives are temporary GAAP and cash-flow impacts driven by the Markel fronting transition (notably an $89M deferred ceding commission amortization) and some marketplace revenue volatility and upfront investment/seasonality. Given management’s reaffirmed guidance and commentary that the GAAP hits will normalize by year-end, the positives outweigh the near-term accounting and timing headwinds.Company Guidance
Strong Written and Earned Premium Growth
Written premiums rose 18% year-over-year to $289 million in Q1 (ahead of full-year guidance of 15%-16%). Earned premium jumped 42% to $240 million, reflecting Hagerty Re assuming 100% of U.S. underwriting economics beginning 1/1/2026. Policy count additions were a record 112,000 in Q1 and PIF growth jumped 15% with retention steady at an industry-leading 89%.
Adjusted EBITDA and Underwriting Performance
Adjusted EBITDA increased 77% to $85 million in Q1. Hagerty Re reported a combined ratio of ~87% (loss ratio ~38%) and recorded a $6 million reserve release from favorable prior-year development, signaling strong underlying underwriting discipline.
Marketplace and Auction Momentum
Broad Arrow Auctions delivered record results at Amelia: $111 million in total sales (50% higher than any prior Amelia auction) with a 92% sell-through rate and a >$15 million top lot (2003 Ferrari Enzo). Porsche Air/Water auction sales were up 30% YoY with an 84% sell-through rate. Management highlighted the marketplace as a rapidly scaling profit center and efficient customer acquisition channel.
Strategic Milestone — Full Economics on U.S. Book
2026 marks the first year Hagerty controls 100% of the economics on its U.S. book (Markel fronting arrangement), improving reinsurance economics and contributing to the 42% earned premium increase. State Farm partnership progress: expect 19,000 agents selling in 40 states by year-end and conversion of ~525,000 collector policies to the Hagerty platform largely by end of 2027.
Solid Financial Position and Reaffirmed Guidance
Balance sheet and liquidity: $212 million unrestricted cash and >$1.1 billion of total investments. Total debt $229 million (includes $110 million Broad Arrow back leverage). Company reaffirmed 2026 guidance: written premium growth 15%-16%, adjusted EBITDA $236M-$247M, GAAP net loss of $41M-$51M, and management noted they are trending toward the high end of ranges.
Structural Tailwinds from Asset Appreciation
Management highlighted that rising classic and modern enthusiast car values are a structural tailwind: approximately 20% of per-policy premium growth over the last 15 years came from members electing higher guaranteed values. This supports written premium growth without large regulatory rate increases (averaging ~1.5% per year for Hagerty Re since 2010).
HGTY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
HGTY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 06, 2026 | $10.29 | $10.07 | -2.14% |
Feb 26, 2026 | $11.62 | $12.09 | +4.04% |
Nov 04, 2025 | $11.29 | $11.14 | -1.33% |
Aug 04, 2025 | $10.02 | $10.75 | +7.29% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Hagerty Inc Class A (HGTY) report earnings?
Hagerty Inc Class A (HGTY) is schdueled to report earning on Aug 11, 2026, After Close (Confirmed).
What is Hagerty Inc Class A (HGTY) earnings time?
Hagerty Inc Class A (HGTY) earnings time is at Aug 11, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is HGTY EPS forecast?
HGTY EPS forecast for the fiscal quarter 2026 (Q2) is -0.06.