Hagerty, Inc. (HGTY) Beats Q4 Earnings and Revenue Estimates

Group 1: Earnings Performance - Hagerty, Inc. reported quarterly earnings of $0.02 per share, exceeding the Zacks Consensus Estimate of $0.01 per share, compared to a loss of $0.01 per share a year ago, representing an earnings surprise of 100% [1] - The company posted revenues of $291.73 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 4.77%, and compared to year-ago revenues of $245.04 million [2] - Over the last four quarters, Hagerty has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Group 2: Stock Performance and Outlook - Hagerty shares have increased approximately 3.7% since the beginning of the year, while the S&P 500 has declined by 0.5% [3] - The current consensus EPS estimate for the coming quarter is $0.06 on revenues of $305.21 million, and for the current fiscal year, it is $0.36 on revenues of $1.36 billion [7] - The estimate revisions trend for Hagerty is favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Group 3: Industry Context - The Automotive - Retail and Wholesale - Parts industry, to which Hagerty belongs, is currently in the top 24% of over 250 Zacks industries, suggesting a positive outlook for the sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]