Hagerty Q3 Adj EPS $0.05 Misses $0.06 Estimate, Sales $275.57M Beat $269.43M Estimate
Portfolio Pulse from saritha@benzinga.com
Hagerty (NYSE:HGTY) reported Q3 earnings of $0.05 per share, missing the analyst consensus estimate of $0.06 by 16.67%. However, the company's quarterly sales of $275.57 million beat the analyst consensus estimate of $269.43 million by 2.28%. This represents a 183.33% increase in earnings and a 27.13% increase in sales compared to the same period last year.
November 08, 2023 | 12:10 pm
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NEUTRAL IMPACT
Hagerty's Q3 earnings per share missed analyst estimates by 16.67%, but sales beat estimates by 2.28%. This could lead to mixed market reactions.
Hagerty's earnings miss could negatively impact the stock price, but the sales beat and YoY growth in both earnings and sales could offset this impact, leading to a neutral short-term price direction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100