Hagerty Raises FY2025 Sales Guidance from $1.356B-$1.368B to $1.368B-$1.380B vs $1.365B Est
Benzinga Newsdesk 12 months ago
NewsGuidance
2025 OUTLOOK - SUSTAINED REVENUE GROWTH AND MARGIN EXPANSIONWe believe 2025 is on track to be another year of strong profit growth for Hagerty as our team executes on our long-term plan to create value for
2025 OUTLOOK - SUSTAINED REVENUE GROWTH AND MARGIN EXPANSION
We believe 2025 is on track to be another year of strong profit growth for Hagerty as our team executes on our long-term plan to create value for stakeholders by delivering high rates of compounding revenue growth through investing in our long-term competitive advantages. In 2025, these investments aggregate to $20 million of elevated spend, primarily in our new technology platform, Duck Creek, which we believe will help us more efficiently grow our business over the coming years. We remain focused on growing our Insurance, Membership and Marketplace businesses, positioning us to deliver sustained, compounding profit growth over the coming years, and fund our purpose to save driving and fuel car culture for future generations.
- For full year 2025, Hagerty anticipates:
- Written Premium growth of 13-14%
- Total Revenue growth of 14-15%
- Net Income growth of 58-65%
- Adjusted EBITDA growth of 37-41%
| Prior 2025 Outlook1 ($) | Revised 2025 Outlook ($) | |||||||||
| in thousands | 2024 Results | Low End | High End | Low End | High End | |||||
| Total Written Premium | $1,044,492 | $1,180,000 | $1,191,000 | $1,180,000 | $1,191,000 | |||||
| Total Revenue | $1,200,038 | $1,356,000 | $1,368,000 | $1,368,000 | $1,380,000 | |||||
| Net Income2, 4, 5 | $78,303 | $112,000 | $120,000 | $124,000 | $129,000 | |||||
| Adjusted EBITDA3, 4 | $124,473 | $162,000 | $172,000 | $170,000 | $176,000 | |||||