Hagerty Affirms FY2026 Sales Guidance of $1.280B-$1.300B vs $1.299B Est
Hagerty Inc Class A HGTY | 0.00 |
We believe 2026 is on track to be another great year of underlying profit growth for Hagerty as our team executes on our long-term plan to deliver compounding premium growth through investing in our long-term competitive advantages with our member-centric approach. As of January 1, 2026, we moved to a 100% quota share arrangement with our long-term partner, Markel, where we retain 100% of the premium and risk from our high-quality, historically low volatility underwriting. We also remain focused on delivering this growth more efficiently through the benefits of scale, continued cost discipline, and investments in our technology platform.
•For full year 2026, Hagerty anticipates:
◦Written Premium growth of 15% to 16%
◦Total Revenue change of (12)% to (11)%, as Markel-related commission revenue is eliminated under the Markel Fronting Arrangement1
◦Net Loss of $(51) million to $(41) million, including ~$190 million of Markel Fronting Arrangement transitional costs2
◦Adjusted EBITDA of $236 million to $247 million
| 2026 Outlook ($) | 2026 Outlook (%) | ||||||||||||||||||||||||||||
| in thousands | 2025 Results | Low End | High End | Low End | High End | ||||||||||||||||||||||||
| Total Written Premium | $1,193,548 | $1,373,000 | $1,385,000 | 15% | 16% | ||||||||||||||||||||||||
| Total Revenue1 | $1,456,389 | $1,280,000 | $1,300,000 | (12)% | (11)% | ||||||||||||||||||||||||
| Net Income (Loss)2, 3 | $149,225 | $(51,000) | $(41,000) | N/M | N/M | ||||||||||||||||||||||||
| Adjusted EBITDA4 | $236,791 | $236,000 | $247,000 | —% | 4% | ||||||||||||||||||||||||