Hagerty Q2 FY26 net income drops 83% to USD 8.04 million; revenue falls 6.5% to USD 354.82 million
Reuters2026/08/05 10:57- Hagerty posts Q2 net income of USD 8.04 million, down 83% year over year; GAAP revenue falls 6.5% to USD 354.82 million.
- Written premium rises 19% to USD 424.5 million; earned premium climbs 41.7% to USD 251.96 million.
- Net loss for the first half totals USD 4.7 million versus prior-year profit; includes USD 153.07 million in Markel fronting transitional costs.
- Q2 adjusted EBITDA increases 2.6% to USD 74.51 million; first-half adjusted EBITDA rises 32.2% to USD 159.69 million.
- Raises 2026 outlook: written premium growth 16%-17%, GAAP net income USD 18-30 million, adjusted EBITDA USD 270-280 million.
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