Hagerty Reports Third Quarter 2024 Results; Updates 2024 Outlook for Revenue and Profit Growth
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Hagerty reported a 17% increase in Q3 2024 revenue to $323.4 million and a 13% rise in written premiums. Despite a higher loss ratio due to Hurricane Helene, net income increased slightly. The company updated its 2024 revenue growth outlook to 18-19%.
November 07, 2024 | 12:15 pm
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Hagerty's Q3 2024 results show a 17% revenue increase and a 13% rise in written premiums. Despite a higher loss ratio due to Hurricane Helene, net income increased slightly. The company updated its 2024 revenue growth outlook to 18-19%.
Hagerty's strong revenue and premium growth, along with an updated positive outlook, suggest a favorable short-term impact on its stock price. The increase in net income, despite higher losses, indicates resilience.
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