Hagerty Swings to $(12.7)M Net Loss in Q1, Revenue Drops 5% YoY to $311.8M
HGTY sits 17% above its 52-week low of $8.81 on light trading volume (0.1× avg).
Summary
Hagerty, Inc. reported a significant financial downturn in Q1 2026, swinging to a consolidated net loss of $(12.7)M, or $(0.06) diluted EPS, compared to a net income of $27.3M and $0.07 EPS in the prior year. Revenue also declined 5.0% year-over-year to $311.8M. While a Reuters report minutes earlier noted adjusted EPS met estimates, this headline provides the full GAAP picture, revealing a substantial deterioration in profitability and top-line performance. This material shift from profit to loss, despite growth in the insurance segment's earned premium and membership, is likely to be a significant concern for investors. The company cited changes in the Markel Fronting Arrangement and increased Hagerty Re quota share as factors impacting commission revenue, alongside operational and reporting changes. Traders will closely watch for clarity on the sustainability of these impacts and a path to renewed profitability.
At the time of this announcement, HGTY was trading at $10.27 on NYSE in the Finance sector, with a market capitalization of approximately $3.4B. The 52-week trading range was $8.81 to $14.00. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Wiseek News.