Hagerty First Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Hagerty (NYSE:HGTY) First Quarter 2024 Results

Key Financial Results

• Revenue: US$271.7m (up 24% from 1Q 2023).
• Net loss: US$3.19m (loss widened by 52% from 1Q 2023).
• US$0.038 loss per share (further deteriorated from US$0.025 loss in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Hagerty Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates.

Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Insurance industry in the US.

Performance of the American Insurance industry.

The company's shares are up 1.6% from a week ago.

Risk Analysis

You should learn about the 1 warning sign we've spotted with Hagerty.

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