earnings
confidence high
sentiment positive
materiality 0.80
Hagerty Q2 revenue up 20% to $313M; raises full-year guidance
Hagerty, Inc.
- Total Revenue $313.2M (+20% YoY); Written Premium $321.2M (+16%).
- Net Income $42.7M (+$27.1M YoY); Adjusted EBITDA $53.1M (+$18.7M).
- Policy retention 89%; insured vehicles up 8% to 2.5 million.
- 2024 guidance raised: Net Income growth 170-198%; Adjusted EBITDA growth 47-59%.
- Completed warrant exchange in July: 3.9M shares issued for 19.5M warrants.