Hagerty Q1 2024 Adj EPS $0.04 Misses $0.09 Estimate, Sales $271.708M Beat $264.168M Estimate
Portfolio Pulse from Benzinga Newsdesk
Hagerty (NYSE:HGTY) reported Q1 2024 earnings of $0.04 per share, missing the consensus estimate of $0.09 by 55.56%, but showed a 200% increase over the previous year's losses. Sales reached $271.708M, exceeding estimates by 2.85% and marking a 24.44% increase from the previous year.

May 07, 2024 | 11:03 am
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NEUTRAL IMPACT
Hagerty reported Q1 2024 earnings below estimates but showed significant sales growth and recovery from last year's losses.
While Hagerty's earnings per share fell short of analyst expectations, the significant improvement from last year's losses and the better-than-expected sales figures could be seen positively by investors. The mixed results—missed EPS estimates but strong sales growth—suggest a neutral short-term impact on the stock price, as the sales growth may offset concerns about the earnings miss.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100