Hagerty Full Year 2022 Earnings: Beats Expectations

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.

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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.