Hagerty, Inc. reported a second-quarter loss of $0.02 per share while raising its adjusted EBITDA outlook for 2026 [1, 4].
The results signal a divergence between short-term earnings and long-term growth. While the company faced a quarterly loss, its ability to beat revenue estimates and accelerate premium growth suggests expanding market share in the specialty insurance sector.
For the quarter ending June 30, the company reported a loss of $0.02 per share [4]. This figure outperformed the Zacks consensus estimate, which had projected a steeper loss of $0.08 per share [4]. However, the result marks a decline from the same period last year, when the company earned $0.13 per share [4].
Despite the quarterly loss, Hagerty highlighted strong momentum in its core business. The company achieved 19% written premium growth during the second quarter and across the first half of the year [3]. This performance has led the company to increase its full-year written premium growth outlook to between 16% and 17% [2].
Financial guidance for the remainder of the year also shifted upward. Hagerty now outlines an adjusted EBITDA target of $270 million to $280 million for 2026 [2]. The company said these figures during an earnings call webcast to inform investors of the improved profitability outlook [1, 2].
Headquartered in New York, Hagerty specializes in insurance for classic and collector vehicles. The company's recent focus has been on accelerating premium growth and refining its operational efficiency to stabilize earnings following the quarterly dip [2, 3].
“Hagerty reported a loss of $0.02 per share, beating the Zacks consensus estimate of $0.08.”
Hagerty is prioritizing aggressive top-line growth over immediate quarterly profitability. By raising its EBITDA and premium growth targets despite a net loss, the company is signaling to investors that its expansion strategy is working and that the current loss is a secondary concern compared to its increasing market penetration.
