Hagerty Q2 revenue tops estimates on premium growth
HGTY•Outlook raised for 2026
Hagerty raised its 2026 written premium growth outlook to 16%-17%.
The company now sees 2026 net income of $18 million to $30 million, and raised its 2026 adjusted EBITDA forecast to $270 million-$280 million.
Analyst coverage and valuation
The current average analyst rating on the shares is "hold," with 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 $14.00, about 19.5% above its August 4 closing price of $11.72.
The stock recently traded at 42 times the next 12-month earnings versus a P/E of 35 three months ago.
Q2 revenue and loss beat estimates
Hagerty's second-quarter revenue fell 6% year over year but beat analyst expectations, and adjusted loss per share also beat estimates.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $354.82 mln | $314.13 mln (5 Analysts) |
| Q2 Adjusted Loss Per Share | Beat | $0.02 | $0.09 (7 Analysts) |
| Q2 Net Income | $8 mln |
Premium growth and marketplace revenue drove results
Written and earned premium rose sharply, driven by record new member additions and policy growth.
