Stock Analysis
Hagerty (NYSE:HGTY) Full Year 2022 Results
Key Financial Results
- Revenue: US$787.6m (up 27% from FY 2021).
- Net income: US$32.1m (up from US$46.4m loss in FY 2021).
- Profit margin: 4.1% (up from net loss in FY 2021).
- EPS: US$0.39 (up from US$0.56 loss in FY 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Hagerty Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 86%.
Looking ahead, revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Insurance industry in the US.
Performance of the American Insurance industry.
The company's shares are down 4.2% from a week ago.
Risk Analysis
It's necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Hagerty (at least 1 which shouldn't be ignored), and understanding them should be part of your investment process.
What are the risks and opportunities for Hagerty?
Rewards
Revenue is forecast to grow 15.8% per year
Became profitable this year
Risks
Earnings are forecast to decline by an average of 23.5% per year for the next 3 years
Large one-off items impacting financial results
Further research on
Hagerty
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
About NYSE:HGTY
Adequate balance sheet with questionable track record.
