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GRCE Investors Have Opportunity to Join Grace Therapeutics, Inc. Fraud Investigation with the Schall Law Firm PR Newswire

LOS ANGELES, June 8, 2026

, /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Grace Therapeutics, Inc. ("Grace" or "the Company") (NASDAQ: GRCE) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Grace announced on April 23, 2026, that "the U.S. Food and Drug Administration (FDA) has issued a Complete Response Letter (CRL) for the Company's New Drug Application (NDA) for GTx-104 for the treatment of patients with aSAH." According to the Company, "the FDA referenced certain items in the Chemistry, Manufacturing, and Controls (CMC) and Non-Clinical sections of the application," which "are related to leachables data for product packaging, non-clinical product toxicology risk assessments, and product manufacturing deficiencies at our contract manufacturing organization." Based on this news, shares of Grace fell by nearly 45.5% on the same day.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.
310-301-3335
[email protected]

www.schallfirm.com

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SOURCE The Schall Law Firm

Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.

While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the current stock price. Many academic studies show that dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases.

Headquartered in Santa Ana, First American Financial (FAF - Free Report) is a Finance stock that has seen a price change of 10.42% so far this year. Currently paying a dividend of $0.55 per share, the company has a dividend yield of 3.24%. In comparison, the Insurance - Property and Casualty industry's yield is 0.78%, while the S&P 500's yield is 1.42%.

Looking at dividend growth, the company's current annualized dividend of $2.20 is up 0.9% from last year. Over the last 5 years, First American Financial has increased its dividend 5 times on a year-over-year basis for an average annual increase of 3.78%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. First American Financial's current payout ratio is 34%, meaning it paid out 34% of its trailing 12-month EPS as dividend.

FAF is expecting earnings to expand this fiscal year as well. The Zacks Consensus Estimate for 2026 is $6.83 per share, representing a year-over-year earnings growth rate of 12.89%.

Investors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. It's important to keep in mind that not all companies provide a quarterly payout.

Big, established firms that have more secure profits are often seen as the best dividend options, but it's fairly uncommon to see high-growth businesses or tech start-ups offer their stockholders a dividend. During periods of rising interest rates, income investors must be mindful that high-yielding stocks tend to struggle. That said, they can take comfort from the fact that FAF is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #1 (Strong Buy).

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One stock to keep an eye on is First American Financial (FAF - Free Report) . FAF is currently sporting a Zacks Rank #1 (Strong Buy), as well as an A grade for Value. The stock is trading with P/E ratio of 11.43 right now. For comparison, its industry sports an average P/E of 26.12. FAF's Forward P/E has been as high as 15.32 and as low as 9.75, with a median of 11.61, all within the past year.

Another valuation metric that we should highlight is FAF's P/B ratio of 1.31. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 1.38. Within the past 52 weeks, FAF's P/B has been as high as 1.43 and as low as 1.08, with a median of 1.29.

Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. FAF has a P/S ratio of 0.9. This compares to its industry's average P/S of 1.2.

Value investors will likely look at more than just these metrics, but the above data helps show that First American Financial is likely undervalued currently. And when considering the strength of its earnings outlook, FAF sticks out as one of the market's strongest value stocks.

First American Data & Analytics, a leading national provider of property-centric information, risk management and valuation solutions and a division of First American Financial Corporation (NYSE: FAF), today released its April 2026 Home Price Index (HPI) report. The report tracks home price changes less than four weeks behind real time at the national, state and metropolitan (Core-Based Statistical Area) levels and includes metropolitan price tiers that segment sale transactions into starter, mid and luxury tiers. The full report can be found here.

April1 National House Price Index

First American Data & Analytics’ National Non-Seasonally Adjusted (NSA) HPI

Metric

Change in HPI

March 2026-April 2026 (month over month)

0.2 percent

April 2025-April 2026 (year over year)

0.0 percent

Highlights

Annual house price appreciation remained below 1 percent for the eighth consecutive month in April. House price growth reported in last month’s HPI for February 2026 to March 2026 was revised up by +0.3 percentage point, from +0.3 percent to +0.6 percent. “While annual house price growth is essentially flat nationally, a slight uptick in monthly appreciation suggests the typical spring home-buying season lift is buoying the housing market, though modestly relative to historical norms,” said Mark Fleming, chief economist at First American. “Nationally, prices are now just shy of the peak reached last May, indicating the market has found a balance between affordability constraints, available inventory and buyer demand.”

April 2026 Local Market Price Tier Highlights

The First American Data & Analytics HPI segments home price changes at the metropolitan level into three price tiers based on local market sales data: starter tier, which represents home sales prices at the bottom third of the market price distribution; mid-tier, which represents home sales prices in the middle third of the market price distribution; and the luxury tier, which represents home sales prices in the top third of the market price distribution.

“Regional divergence remains the defining feature of today’s housing market,” said Fleming. “While Midwestern and Northeastern markets continue to post annual price gains, 21 of the top 30 markets we track are either flat or below year-ago price levels. The 9.6 percentage point spread between Chicago, the strongest-performing market, and Austin, Texas, the weakest, illustrates just how localized housing market conditions have become.”

April 2026 First American Data & Analytics Price Tier HPI Highlights

Core-Based Statistical Areas (CBSAs) Ranked by Greatest Year-Over-Year Increases in Starter Tier HPI

CBSA

Change in Starter Tier HPI

Change in Mid-Tier HPI

Change in Luxury Tier HPI

St. Louis

+8.0 percent

+3.7 percent

+3.0 percent

Cambridge, Mass.

+5.3 percent

-0.2 percent

+3.1 percent

Chicago

+3.1 percent

+3.7 percent

+5.5 percent

Pittsburgh

+2.6 percent

+2.4 percent

-0.5 percent

Anaheim, Calif.

+1.3 percent

+1.2 percent

+2.7 percent

Additional April 2026 First American Data & Analytics HPI Highlights

Core-Based Statistical Areas (CBSAs) with Greatest Year-Over-Year Increases in HPI

CBSA

Change in HPI

Chicago

+4.4 percent

Cambridge, Mass.

+3.8 percent

St. Louis

+2.9 percent

New Brunswick, N.J.

+2.1 percent

Pittsburgh

+1.7 percent

Core-Based Statistical Areas (CBSAs) with a Year-Over-Year Decrease in HPI

Austin, Texas

-5.2 percent

Houston

-4.8 percent

Oakland, Calif.

-4.1 percent

Tampa, Fla.

-3.2 percent

San Antonio

-2.9 percent

HPI data for all 50 states and the largest 30 CBSAs by population is available here.

Visit the First American Economic Center for more research on housing market dynamics.

Next Release

The next release of the First American Data & Analytics House Price Index will take place the week of June 22, 2026.

April 2026 First American Data & Analytics House Price Index: Frequently Asked Questions

Q: Are U.S. home prices rising or falling in the 2026 Spring Home-Buying Season?
A: Nationally, home prices are relatively stable as the spring home-buying season reaches its peak months. While some Midwest and Northeast markets continue to post gains, many large housing markets remain flat or below year-ago price levels.

Q: Why are home prices essentially flat year over year, but increasing month over month?
A: The housing market appears to have settled into a balance between affordability constraints, available inventory and buyer demand, while regional economic conditions continue to drive significant differences between local markets.

Q: Which regions saw the strongest house price growth in April?
A: Midwestern and Northeastern markets continue to lead in annual price growth. Cities like Chicago, Cambridge, Mass. and St. Louis are among the top performers, while many markets in the South and West are still experiencing year-over-year price declines.

Q: Which housing markets saw the largest house price declines in April?
A: Among major metropolitan areas, Austin, Texas, Houston, Oakland, Calif., Tampa, Fla., and San Antonio recorded the largest annual house price declines in April 2026.

Q: What is the First American Data & Analytics HPI?
A: The First American Data & Analytics HPI measures changes in single-family home prices across the United States using a repeat-sales methodology. It tracks price movements at the national, state, and metropolitan (Core-Based Statistical Area) levels and includes starter, mid-tier, and luxury price segments.

Q: How current is the First American Data & Analytics HPI data?
A: The HPI tracks home price changes less than four weeks behind real time, making it one of the timeliest measures of U.S. home price trends available.

Q: Who produces the First American Data & Analytics HPI?
A: The HPI is produced by First American Data & Analytics, a division of First American Financial Corporation (NYSE: FAF), using more than 46 million paired real estate transactions and the industry’s largest property and ownership dataset.

Q: When will the next HPI report be released?
A: The next First American Data & Analytics Home Price Index report is scheduled for release during the week of June 22, 2026.

First American Data & Analytics HPI Methodology

The First American Data & Analytics HPI report measures single-family home prices, including distressed sales, with indices updated monthly beginning in 1980 through the month of the current report. HPI data is provided at the national, state and CBSA levels and includes preliminary index estimates for the month prior to the report (i.e. the preliminary result of July transactions is reported in August). The most recent index results are subject to revision as data from more transactions become available.

The HPI uses a repeat-sales methodology, which measures price changes for the same property over time using more than 46 million paired transactions to generate the indices. In non-disclosure states, the HPI utilizes a combination of public sales records, MLS sold and active listings, and appraisal data to estimate house prices. This comprehensive approach is particularly effective in areas where there is limited availability of accurate sale prices, such as non-disclosure states. Property type, price and location data are used to create more refined market segment indices. Real Estate-Owned transactions are not included.

Disclaimer

Opinions, estimates, forecasts and other views contained in this page are those of First American’s Chief Economist, do not necessarily represent the views of First American or its management, should not be construed as indicating First American’s business prospects or expected results, and are subject to change without notice. Although the First American Economics team attempts to provide reliable, useful information, it does not guarantee that the information is accurate, current or suitable for any particular purpose. © 2026 by First American. Information from this page may be used with proper attribution.

About First American Data & Analytics

First American Data & Analytics, a division of First American Financial Corporation, is a national provider of property-centric information, risk management and valuation solutions. First American maintains and curates the industry’s largest public records property and ownership dataset that includes more than 8.6 billion document images. Its major platforms and products include: DataTree® property data, FraudGuard® risk solution, RegsData® compliance suite, Procision™ AVM, and TaxSource™ property tax reporting. Find out more about how First American Data & Analytics powers the real estate, mortgage and title settlement services industries with advanced risk intelligence solutions at www.FirstAmDNA.com.

About First American

First American Financial Corporation (NYSE: FAF) is a premier provider of title, settlement, and risk solutions for real estate transactions. With its combination of financial strength and stability built over more than 135 years, innovative proprietary technologies, and unmatched data assets, the company is leading the digital transformation of its industry. First American also provides data products to the title industry and other third parties; valuation products and services; mortgage subservicing; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of $7.5 billion in 2025, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2026, First American was named one of the 100 Best Companies to Work For by Great Place to Work® and Fortune Magazine for the eleventh consecutive year. More information about the company can be found at www.firstam.com.

1 The most recent index results are subject to revision as data from more transactions become available.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260528639437/en/

Key Takeaways EV-to-EBITDA offers a fuller view of valuation by accounting for debt, unlike traditional P/E ratios.FAF, CAL, CVE, UGP and OTEX are screened as bargain stocks with low EV-to-EBITDA ratios.Each stock meets strict criteria, including valuation, trading volume, price, growth, and Value Score. Investors often focus on the price-to-earnings (P/E) ratio, while looking for attractively priced stocks. Easy to compute and widely recognized, it remains one of the most commonly used valuation metrics for estimating a stock’s fair market value. However, despite its widespread use, the P/E ratio comes with certain drawbacks.

Although P/E is the most popular valuation metric, a more complicated multiple called EV-to-EBITDA is often considered a more effective alternative. It provides a clearer picture of a company’s valuation and earnings potential by taking a more comprehensive approach. Although P/E considers a firm’s equity portion, EV-to-EBITDA captures its total value.

First American Financial Corporation (FAF - Free Report) , Caleres, Inc. (CAL - Free Report) , Cenovus Energy Inc. (CVE - Free Report) , Ultrapar Participacoes S.A. (UGP - Free Report) and Open Text Corporation (OTEX - Free Report) are some stocks with attractive EV-to-EBITDA ratios.

What Makes EV-to-EBITDA a Better Option?Also referred to as enterprise multiple, EV-to-EBITDA is the enterprise value (EV) of a stock divided by its earnings before interest, taxes, depreciation and amortization (EBITDA). EV is the sum of a company’s market capitalization, its debt and preferred stock minus cash and cash equivalents. In essence, it is the entire value of a company. EBITDA, the other element, gives a clearer picture of a company’s profitability by removing the impact of non-cash expenses like depreciation and amortization that dampen net earnings. It is also often used as a proxy for cash flows.

Typically, the lower the EV-to-EBITDA ratio, the more enticing it is. A low EV-to-EBITDA ratio could indicate that a stock is undervalued. Unlike the P/E ratio, EV-to-EBITDA takes debt on a company’s balance sheet into account. For this reason, it is typically used to value acquisition targets. The ratio shows the amount of debt that the acquirer has to bear. Stocks flaunting a low EV-to-EBITDA multiple could be seen as attractive takeover candidates.

P/E can’t be used to value a loss-making firm. A firm’s earnings are also subject to accounting estimates and management manipulation. In contrast, EV-to-EBITDA is harder to manipulate and can be used to value companies that have negative net earnings but are positive on the EBITDA front. EV-to-EBITDA is also a useful tool in measuring the value of firms that are highly leveraged and have a high degree of depreciation. It can also be used to compare companies with different levels of debt.

EV-to-EBITDA is not devoid of limitations and alone cannot conclusively determine a stock’s inherent potential and future performance. The multiple varies across industries and is usually not appropriate when comparing stocks in different industries, given their diverse capital expenditure requirements.

Thus, instead of just relying on EV-to-EBITDA, you can club it with the other major ratios, such as price-to-book (P/B), P/E and price-to-sales (P/S) to achieve the desired results.

Screening CriteriaHere are the parameters to screen for bargain stocks:

EV-to-EBITDA 12 Months-Most Recent less than X-Industry Median: A lower EV-to-EBITDA ratio represents a cheaper valuation.

P/E using (F1) less than X-Industry Median: This metric screens stocks that are trading at a discount to their peers.

P/B less than X-Industry Median: A lower P/B compared with the industry average implies that the stock is undervalued.

P/S less than X-Industry Median: The lower the P/S ratio, the more attractive the stock is, as investors will have to pay a smaller price for the same amount of sales generated by the company.

Estimated One-Year EPS Growth F(1)/F(0) greater than or equal to X-Industry Median: This parameter will help in screening stocks that have growth rates higher than the industry median.

Average 20-day Volume greater than or equal to 100,000: The addition of this metric ensures that shares can be traded easily.

Current Price greater than or equal to $5: This parameter will help in screening stocks that are trading at a minimum price of $5 or higher.

Zacks Rank less than or equal to 2: It is a fundamental truth that stocks with a Zacks Rank #1 (Strong Buy) or 2 (Buy) have always managed to beat adversities and outperform the market.

Value Score of less than or equal to B: Our research shows that stocks with a Value Score of A or B, when combined with a Zacks Rank #1 or 2, offer the best upside potential.

Here are our five picks out of the 18 stocks that passed the screen:

First American Financial serves homebuyers and sellers, real estate professionals, loan originators and servicers, commercial property professionals, homebuilders and others involved in residential and commercial property transactions with products and services specific to their needs. This Zacks Rank #1 stock has a Value Score of A.

First American Financial has an expected earnings growth rate of 12.6% for 2026. The Zacks Consensus Estimate for FAF’s 2026 earnings has been revised 6.7% upward over the past 60 days.

Caleres designs, develops, sources, manufactures and distributes footwear in the United States, Canada, East Asia and internationally. This Zacks Rank #1 stock has a Value Score of A. You can see the complete list of today’s Zacks #1 Rank stocks here.

Caleres has an expected year-over-year earnings growth rate of 31.9% for the current fiscal year. The consensus estimate for CAL’s current fiscal-year earnings has moved up 4.7% over the past 60 days.

Cenovus Energy is a leading integrated energy firm with operations comprising marketing the produced oil, natural gas and natural gas liquids. This Zacks Rank #1 stock has a Value Score of B.

Cenovus Energy has an expected year-over-year earnings growth rate of 104.6% for 2026. The Zacks Consensus Estimate for CVE’s 2026 earnings has moved up 83.1% over the past 60 days.

Ultrapar Participacoes is one of the largest distributors of liquefied petroleum gas in Brazil and a leading producer of petrochemicals and chemicals. This Zacks Rank #2 company has a Value Score of A.

Ultrapar Participacoes has an expected year-over-year earnings growth rate of 100% for 2026. The Zacks Consensus Estimate for UGP's 2026 earnings has been revised 45% upward over the past 60 days.

OpenText is a leading information management company that provides software and services that empower digital businesses of all sizes. This Zacks Rank #2 company has a Value Score of A.

OpenText has an expected year-over-year earnings growth rate of 12% for the current fiscal year. The Zacks Consensus Estimate for OTEX’s current fiscal-year earnings has moved up 1.7% over the past 60 days.

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.

Zacks Premium also includes the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.

Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.

That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.

For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: First American Financial (FAF - Free Report) Headquartered in Santa Ana, CA., First American Financial serves homebuyers and sellers, real estate professionals, loan originators and servicers, commercial property professionals, homebuilders and others involved in residential and commercial property transactions with products and services specific to their needs. The company was founded in the state of Delaware in January 2008. On Jun 1, 2010, the company’s common stock was listed on the New York Stock Exchange.

FAF is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 9.57; value investors should take notice.

For fiscal 2026, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.43 to $6.81 per share. FAF boasts an average earnings surprise of +22%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, FAF should be on investors' short list.

Investors with an interest in Insurance - Property and Casualty stocks have likely encountered both First American Financial (FAF - Free Report) and American Coastal Insurance (ACIC - Free Report) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.

There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.

First American Financial and American Coastal Insurance are sporting Zacks Ranks of #1 (Strong Buy) and #5 (Strong Sell), respectively, right now. This means that FAF's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. However, value investors will care about much more than just this.

Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.

Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.

FAF currently has a forward P/E ratio of 9.68, while ACIC has a forward P/E of 10.56. We also note that FAF has a PEG ratio of 0.63. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ACIC currently has a PEG ratio of 3.52.

Another notable valuation metric for FAF is its P/B ratio of 1.22. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, ACIC has a P/B of 1.48.

Based on these metrics and many more, FAF holds a Value grade of A, while ACIC has a Value grade of C.

FAF stands above ACIC thanks to its solid earnings outlook, and based on these valuation figures, we also feel that FAF is the superior value option right now.

Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.

While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.

Headquartered in Santa Ana, First American Financial (FAF - Free Report) is a Finance stock that has seen a price change of 9.08% so far this year. Currently paying a dividend of $0.55 per share, the company has a dividend yield of 3.28%. In comparison, the Insurance - Property and Casualty industry's yield is 0.78%, while the S&P 500's yield is 1.45%.

Looking at dividend growth, the company's current annualized dividend of $2.20 is up 0.9% from last year. Over the last 5 years, First American Financial has increased its dividend 5 times on a year-over-year basis for an average annual increase of 3.78%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. First American Financial's current payout ratio is 34%, meaning it paid out 34% of its trailing 12-month EPS as dividend.

Earnings growth looks solid for FAF for this fiscal year. The Zacks Consensus Estimate for 2026 is $6.81 per share, with earnings expected to increase 12.56% from the year ago period.

Investors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. But, not every company offers a quarterly payout.

High-growth firms or tech start-ups, for example, rarely provide their shareholders a dividend, while larger, more established companies that have more secure profits are often seen as the best dividend options. Income investors have to be mindful of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. That said, they can take comfort from the fact that FAF is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #1 (Strong Buy).

Key Takeaways RDN, CINF, AFG and FAF stand out for consistent dividend payments and strong financial positions. Insurers benefit from investment income, technology adoption and continued underwriting discipline. Industry growth is supported by demand for coverage, AI adoption and ongoing merger activity. The U.S. insurance market experienced slowing premium growth after past highs, continued strong demand for catastrophe coverage, increasing tech adoption (AI), as well as significant M&A activity, along with navigating economic uncertainty and potential climate impacts. Despite lower pricing, underwriting discipline remains strong. The U.S. market continued to witness increasing casualty rates.

The Fed kept the fed funds rate unchanged at the 3.5-3.75% target range for a third consecutive meeting in April. Following a period of rate cuts in late 2025, the Fed has held rates steady as inflation and resilient economic data have complicated policymaking. Policymakers have held rates steady across consecutive meetings in early 2026, shifting the market consensus to expect fewer cuts or even potential rate hikes later in the year.

Thus, investors always look for a haven that ensures a steady return. Insurers like First American Financial Corporation (FAF - Free Report) , Radian Group Inc. (RDN - Free Report) , American Financial Group, Inc. (AFG - Free Report) and Cincinnati Financial Corporation (CINF - Free Report) have been investors’ favorites, driven by their solid fundamentals that ensure consistent dividend payments. Industry players that boast an impressive dividend history have always attracted yield-seeking investors.

Price PerformanceThe insurance industry has declined 4.1% in the past year against the Zacks S&P 500 composite’s appreciation of 25.9% and the Finance sector’s growth of 12.2%.

Image Source: Zacks Investment Research

Dividend Stocks to the RescueInvestors consider dividend-paying companies useful as the income they provide can help them meet liquidity needs, and dividend-focused investing has historically demonstrated the ability to help lower volatility. Dividends are a major factor in reducing overall portfolio risk. A stable dividend acts as a cushion during market downturns, reducing overall portfolio swings. Companies that have consistently increased their dividends tend to be more financially stable, higher-quality businesses, and are more likely to have the ability to pay dividends consistently.

While dividend stocks are primarily known for providing income, they also offer the potential for capital appreciation. Companies that consistently pay and increase dividends over time are often in strong financial health, which can lead to steady growth in their stock prices. Investors may benefit from share price growth while also receiving periodic dividend income, which together form the total return on investment.

Investment income is an important contributor to insurers’ performance. They invest a portion of their premiums. Thus, insurers are direct beneficiaries of a rising rate environment. With a lower rate of return, investment income will suffer. However, a broader invested base will limit the downside.

Insurers should continue to invest heavily in technology to improve scale and efficiencies, while M&A is likely to be on the rise as more insurers seek growth through expansion.

Key Picks for Dividend InvestingTo choose some of the best dividend stocks from the aforementioned industry, we have run the Zacks Stock Screener to identify stocks with a dividend yield in excess of 2% and a sustainable dividend payout ratio of less than 60%, reflecting enough room for future dividend increases. These stocks also have a five-year historical dividend growth rate of more than 2% and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.

Let us dig deep into four such stocks.

First American Financial, with a market capitalization of $6.73 billion, provides closing and/or escrow services, home warranty products, and issues title insurance policies on residential and commercial property. FAF sports a Zacks Rank #1 at present.

Banking on strong operational performance, the company distributes wealth to its shareholders via dividends and share buybacks. In the first quarter of 2026, First American repurchased shares for a total of $33 million. The insurer raised its dividend by 2% in September 2025. These make the stock an attractive pick for yield-seeking investors. Its current dividend yields 3.33%, better than the industry average of 0.2%. The insurer’s payout ratio is 34, with a five-year dividend growth rate of 2.42%. (Check FAF’s dividend history here).

Rising home prices and steady refinancing activity should benefit First American as it stays focused on strengthening its core title business. It has been actively pursuing acquisitions, strengthening distribution relationships, and widening its international presence. Continued investment in long-term strategic initiatives, including the expansion of title plant assets and the upgrade of technology solutions to increase efficiency, bodes well.

Radian, with a market capitalization of $4.61 billion, is a niche player in the P&C markets, with a focus on specialized commercial products for businesses. RDN carries a Zacks Rank #2.

Riding on continued financial strength and flexibility, Radian declared a 4.1% increase in quarterly dividend in the first quarter of 2025. This marks the sixth consecutive year that the company has raised its quarterly dividend, which has more than doubled over the past five years. Its current dividend yield of 2.9% betters the industry average of 2.5%. The insurer’s payout ratio is 22, with a five-year dividend growth rate of 12.9%. (Check RDN’s dividend history here).

Radian remains focused on improving its mortgage insurance portfolio to drive long-term earnings growth. Its superior mortgage insurance portfolio is expected to create a strong foundation for future earnings. Business restructuring intensifies its focus on core business and services with higher growth potential, ensuring a predictable and recurring fee-based revenue stream. Radian Group maintains a solid balance sheet with sufficient liquidity and strong cash flows that help Radian Group to deploy capital via share repurchases and dividend hikes that enhance shareholders’ value.

American Financial Group, with a market capitalization of $11 billion, is a niche player in the P&C markets, with a focus on specialized commercial products for businesses. AFG carries a Zacks Rank #2 at present.

AFG has a long history of returning capital through regular and special dividends and share repurchases, and it has increased its dividend in each of the last 20 years. The insurer raised the dividend 10% beginning in October 2025 and paid a special dividend in the first quarter of 2026. Its current dividend yields 2.6%, better than the industry average of 0.2%. The insurer also pays special dividends. The insurer’s payout ratio is 32, with a five-year dividend growth rate of 12.5%. (Check AFG’s dividend history here).

AFG’s robust operating profitability at the P&C segment, a stellar investment performance and effective capital management support effective shareholders’ return. It expects operations to continue to generate significant excess capital, which provides ample opportunity for additional share repurchases or special dividends over the next year.

Cincinnati Financial, with a market capitalization of $25.74 billion, markets property and casualty insurance. It carries a Zacks Rank #3.

Through 2024, the company had increased the annual cash dividend rate for 65 consecutive years, a record that is believed to be matched by only seven other U.S. publicly traded companies. In January 2026, the board increased the regular quarterly dividend by 8%, setting the stage for the 66th consecutive year of increasing cash dividends. Its current dividend yields 2.3%, better than the industry average of 0.2%. The insurer’s payout ratio is 37, with a five-year dividend growth rate of 8.35%. The dividend increases reflected strong operating performance and signaled management's and the board's positive outlook and confidence in outstanding capital, liquidity and financial flexibility (Check CINF’s dividend history here).

Cincinnati Financial continues to grow through a disciplined expansion of Cincinnati Re, which is making a nice contribution to its overall earnings, better pricing, strong renewal, solid retention and exposure growth. A higher volume of written policies with a focus on earning new business through an agent-focused business model should drive long-term growth. It is building an agent network to sell its policies. This is because an agent-driven business is proving to be a more effective driver of growth and, therefore, holds promise for the long term.

Investors looking for stocks in the Technology Services sector might want to consider either JBT Marel (JBTM) or Enpro (NPO). But which of these two stocks offers value investors a better bang for their buck right now?

Congress Asset Management Co. lifted its position in shares of Enpro Inc. (NYSE: NPO) by 7.3% in the undefined quarter, according to its most recent disclosure with the SEC. The fund owned 376,272 shares of the industrial products company's stock after acquiring an additional 25,715 shares during the period. Congress Asset Management Co.

Posted by Defense World Staff on Apr 6th, 2026

Aberdeen Group plc lessened its position in Enpro Inc. (NYSE:NPO – Free Report) by 21.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 95,771 shares of the industrial products company’s stock after selling 26,146 shares during the period. Aberdeen Group plc owned approximately 0.45% of Enpro worth $20,507,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Westfuller Advisors LLC bought a new stake in Enpro in the third quarter worth about $25,000. Trust Co. of Vermont bought a new stake in Enpro during the fourth quarter worth approximately $32,000. Private Trust Co. NA boosted its holdings in Enpro by 98.6% during the third quarter. Private Trust Co. NA now owns 147 shares of the industrial products company’s stock worth $33,000 after buying an additional 73 shares in the last quarter. Jones Financial Companies Lllp grew its position in Enpro by 236.4% in the third quarter. Jones Financial Companies Lllp now owns 148 shares of the industrial products company’s stock worth $33,000 after buying an additional 104 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Enpro by 36.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 192 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 51 shares during the last quarter. Institutional investors own 98.31% of the company’s stock.

Wall Street Analyst Weigh In A number of equities research analysts have recently issued reports on the company. Wall Street Zen lowered Enpro from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. KeyCorp lifted their target price on shares of Enpro from $260.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, February 19th. Oppenheimer boosted their price target on shares of Enpro from $240.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, February 19th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Enpro in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $297.50.

Check Out Our Latest Stock Analysis on Enpro

Insider Buying and Selling In other news, EVP Robert Savage Mclean sold 2,000 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $277.50, for a total transaction of $555,000.00. Following the transaction, the executive vice president owned 29,909 shares of the company’s stock, valued at approximately $8,299,747.50. This represents a 6.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Humphrey sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $268.69, for a total value of $349,297.00. Following the completion of the transaction, the director directly owned 3,200 shares in the company, valued at $859,808. The trade was a 28.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 9,660 shares of company stock worth $2,653,220. Insiders own 1.60% of the company’s stock.

Enpro Trading Down 0.3% NYSE:NPO opened at $251.52 on Monday. The company has a market capitalization of $5.31 billion, a P/E ratio of 133.08, a P/E/G ratio of 1.91 and a beta of 1.54. The stock’s 50 day moving average price is $256.27 and its 200 day moving average price is $234.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.50 and a current ratio of 2.32. Enpro Inc. has a 52 week low of $133.50 and a 52 week high of $286.35.

Enpro (NYSE:NPO – Get Free Report) last posted its earnings results on Wednesday, February 18th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.08. Enpro had a net margin of 3.54% and a return on equity of 11.16%. The firm had revenue of $295.40 million during the quarter, compared to analysts’ expectations of $280.50 million. During the same period in the previous year, the company earned $1.57 earnings per share. The company’s revenue was up 14.3% compared to the same quarter last year. Enpro has set its FY 2026 guidance at 8.500-9.200 EPS. On average, research analysts forecast that Enpro Inc. will post 7.38 EPS for the current fiscal year.

Enpro Increases Dividend The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th were paid a dividend of $0.32 per share. This is a boost from Enpro’s previous quarterly dividend of $0.31. The ex-dividend date was Wednesday, March 4th. This represents a $1.28 annualized dividend and a dividend yield of 0.5%. Enpro’s dividend payout ratio is currently 67.72%.

About Enpro (Free Report)

Enpro Group, Inc (NYSE: NPO) is a global industrial technology company specializing in engineered products designed to perform in critical and harsh environments. The company’s product portfolio spans proprietary bearing materials and surface enhancement technologies, high-performance sealing solutions, and fluid handling components. Enpro’s offerings are tailored for markets such as semiconductor manufacturing, aerospace, energy, chemical processing, life sciences and general industrial applications.

Formed in December 2002 as a spin-off from the aerospace and defense supplier Goodrich Corporation, Enpro has grown through a combination of targeted acquisitions and focused organic investment in research and development.

Recommended Stories Five stocks we like better than Enpro

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CHARLOTTE, N.C.--(BUSINESS WIRE)--Enpro Inc. (NYSE: NPO) will release financial results for the first quarter of 2026 on Tuesday, May 5, at 6:30 a.m. Eastern Time. Eric Vaillancourt, President and Chief Executive Officer, and Joe Bruderek, Executive Vice President and Chief Financial Officer, will host a conference call to review the company’s performance at 8:30 a.m. Eastern Time.

The conference call will be webcast live at https://www.enpro.com, and may also be accessed via telephone at 1-877-407-0832, using the code 13750602. The webcast and telephone line will open approximately 10 minutes before the call. First quarter 2026 financial results and an accompanying slide presentation will be available on the company’s website.

About Enpro

Enpro is a leading industrial technology company focused on critical applications across many end-markets, including semiconductor, industrial process, commercial vehicle, sustainable power generation, aerospace, food and biopharma, photonics and life sciences. Headquartered in Charlotte, North Carolina, Enpro is listed on the New York Stock Exchange under the symbol “NPO”. For more information, visit the company’s website at https://www.enpro.com.

More News From Enpro Inc.

CHARLOTTE, N.C.--(BUSINESS WIRE)--Enpro Inc. (NYSE: NPO) will participate in the Oppenheimer 21st Annual Industrial Growth Conference on Thursday, May 7, 2026. Joe Bruderek, Executive Vice President and Chief Financial Officer, will present virtually at 11:15 a.m. Eastern Time. The webcast presentation will be available on the company’s website, https://www.enpro.com.

About Enpro Inc.

Enpro is a leading industrial technology company focused on critical applications across many end-markets, including semiconductor, industrial process, commercial vehicle, sustainable power generation, aerospace, food and biopharma, photonics and life sciences. Headquartered in Charlotte, North Carolina, Enpro is listed on the New York Stock Exchange under the symbol “NPO”. For more information, visit the company’s website at https://www.enpro.com.

More News From Enpro Inc.

Enpro (NPO - Free Report) came out with quarterly earnings of $2.14 per share, beating the Zacks Consensus Estimate of $2.08 per share. This compares to earnings of $1.9 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +2.89%. A quarter ago, it was expected that this industrial products maker would post earnings of $1.91 per share when it actually produced earnings of $1.99, delivering a surprise of +4.19%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Enpro, which belongs to the Zacks Technology Services industry, posted revenues of $303 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 0.3%. This compares to year-ago revenues of $273.2 million. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Enpro shares have added about 35.2% since the beginning of the year versus the S&P 500's gain of 5.2%.

What's Next for Enpro?While Enpro has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Enpro was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.31 on $319.75 million in revenues for the coming quarter and $8.88 on $1.26 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Technology Services is currently in the bottom 30% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Full Truck Alliance Co. Ltd. Sponsored ADR (YMM - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2026. The results are expected to be released on May 21.

This company is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents a year-over-year change of -27.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Full Truck Alliance Co. Ltd. Sponsored ADR's revenues are expected to be $403.53 million, up 8.5% from the year-ago quarter.

Investors with an interest in Technology Services stocks have likely encountered both Full Truck Alliance Co. Ltd. Sponsored ADR (YMM - Free Report) and Enpro (NPO - Free Report) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.

Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.

Right now, both Full Truck Alliance Co. Ltd. Sponsored ADR and Enpro are sporting a Zacks Rank of #2 (Buy). Investors should feel comfortable knowing that both of these stocks have an improving earnings outlook since the Zacks Rank favors companies that have witnessed positive analyst estimate revisions. However, value investors will care about much more than just this.

Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.

Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.

YMM currently has a forward P/E ratio of 13.25, while NPO has a forward P/E of 33.79. We also note that YMM has a PEG ratio of 0.80. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NPO currently has a PEG ratio of 2.25.

Another notable valuation metric for YMM is its P/B ratio of 1.6. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, NPO has a P/B of 4.06.

These are just a few of the metrics contributing to YMM's Value grade of A and NPO's Value grade of D.

Both YMM and NPO are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that YMM is the superior value option right now.

On June 08, 2026, Enpro Inc NPO shares rose 3.4% today, currently priced at $322.82. Over the past year, NPO has demonstrated strong performance with a 68.2% increase, reaching a 52-week high of $326.98 and a low of $179.64.

GF Value™ verdict: Currently priced at $322.82, NPO is 73.7% overvalued compared to its GF Value™ of $185.82.GF Score™: NPO has a score of 70/100, indicating above-average performance across key metrics.Most notable signal: The momentum rank is strong at 10/10, suggesting robust recent price movement. Is NPO Overvalued or Undervalued? Currently, Enpro Inc NPO is trading significantly above its GF Value™, which is calculated at $185.82. This indicates that the stock is overvalued by approximately 73.7%. The GF Valuation label categorizes NPO as significantly overvalued, suggesting that the market price does not align with the intrinsic value derived from the company's historical performance and expected future growth. The substantial margin of safety indicates a potential risk for investors, as the stock may not provide adequate returns if it corrects to align with its intrinsic value.

GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. The current valuation raises concerns, as the stock's price could be susceptible to a decline if market sentiments shift or if the company fails to meet growth expectations.

How Does NPO's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 159.0x 39.2x (5-Year Median) Forward P/E 35.0x N/A The current P/E ratio of 159.0x is significantly above the 5-year median P/E of 39.2x, indicating that NPO is trading at a premium compared to its historical valuation. This analysis is consistent with the GF Value™ verdict, reinforcing the conclusion that NPO is overvalued at its current price level.

What Does NPO's GF Score™ Tell Us? Metric Rating GF Score™ 70/100 Financial Strength 6/10 Profitability 7/10 Growth 3/10 Valuation 3/10 Momentum 10/10 The GF Score™ of 70/100 suggests that Enpro Inc exhibits above-average performance in various metrics. The strongest area is its momentum ranking of 10/10, indicating a high rate of price increase in the short term. In contrast, the growth and valuation ranks of 3/10 highlight weaknesses in these areas, indicating potential challenges in achieving sustainable long-term growth and value creation in the context of its current price level.

What Are Insiders Doing with NPO Stock? There have been no insider transactions in the last three months for Enpro Inc NPO . This lack of activity may suggest that insiders are either confident in the current valuation or uncertain about future price movements. Typically, increased insider buying can signal confidence in the company's future prospects, while selling may indicate concerns.

What This Means for Investors Based on the GF Value™ assessment, Enpro Inc NPO is currently overvalued. The significant difference between the current price and the intrinsic value suggests potential risk for those considering an investment at this price point.

For the complete analysis, visit the Enpro Inc NPO stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is NPO's GF Score™?

NPO's GF Score™ is 70/100, indicating above-average performance across several key metrics, which suggests potential for solid returns in the long term.

Is NPO overvalued or undervalued?

NPO is currently overvalued, with a GF Value™ of $185.82 compared to its current price of $322.82, indicating a 73.7% overvaluation.

What is NPO's P/E ratio?

NPO's P/E ratio is 159.0x, which is significantly above its 5-year median P/E of 39.2x, further supporting the notion that the stock is overvalued at its current price.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Grosse Pointe, Michigan, April 07, 2026 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, driven by Hagerty (NYSE: HGTY), has revealed featured entries in exceptional colors for its third annual Porsche Air|Water Auction, held in partnership with the Air|Water experiential event. Set for April 25 at The OC Fair & Event Center in Costa Mesa, California, the exclusive auction will present more than 50 desirable Porsches and over 20 lots of Porsche memorabilia and collectibles for sale.

Featured highlights of the one-day sale are led by an eye-catching example of the superlative Porsche hypercar, a 2015 Porsche 918 Spyder Weissach Package (Estimate: $4,500,000 - $5,500,000). Limitation number 048 is the singular Paint to Sample Riviera Blue 918 Spyder equipped with the weight-saving Weissach package delivered to North America, featuring a Black interior with Silver piping. Entering production in 2013, the Porsche 918 remains every bit as compelling today as it was when revealed, one of the “holy trinity” hypercars from Porsche, Ferrari, and McLaren, pushing the limits of performance as sustainably and efficiently as possible and setting the bar for the hybrid-electric performance models of today. A mid-engine 4.6-liter, dry sump V8 combined with two electric motors, one each driving front and rear wheels produces a total output of 887 horsepower at 8,500 rpm and 944 lb-ft of torque in seventh gear. That power is transmitted through a lightning-fast dual-clutch, seven-speed PDK transmission.  

This particular car is finished in Paint to Sample (PTS) Riviera Blue, a non-metallic hue described by Porsche as “vibrant shade of light blue inspired by the brilliant blue waters of the Italian and French Riviera coasts”. The refreshing color is a perfect match for the Spyder’s removable carbon fiber roof panels that encourage al fresco driving. Porsche has always ensured that high performance and luxury go hand-in-hand, and the 918 Spyder is no different. The well-equipped interior features Black leather upholstery with optional Carbon Floor Mats with Silver Piping, Seat Belts with Accent Stripes in Silver, Burmester High-End Surround Sound Audio System, Automatic Air Conditioning and HomeLink System. Furthermore, through Porsche's Exclusive Manufaktur program it received its exterior finishes as well as $7,200 in desirable Custom Tailoring (CXX). Offered with only 1,267 miles at the time of cataloging and fresh from a recent Major Service at Porsche Woodland Hills, this is a spectacular example worthy of today’s most discerning collections.

The 918 is complemented by another special Porsche halo car, a 1988 Porsche 959 SC Reimagined by Canepa, chassis number WP0ZZZ95ZJS900153 (Estimate: $3,200,000 - $3,600,000). This fantastic example of Porsche’s first supercar has been reimagined by Canepa as a 959 SC in striking Viper Green over brown leather. Fitted with the full suite of Canepa “Stage III” upgrades to produce up to 850 horsepower on E85 fuel, this 1980s supercar offers modern hypercar performance, boasting zero-to-60 mph in 2.5 seconds and a 230-mph top speed. Showing just over 1,300 miles since its transformation from Canepa, this sought-after supercar is sure to turn heads at Broad Arrow’s Air|Water Auction this month.

Joining the Porsches is a highly exclusive, made-to-order, modern RUF supercar, a 2025 RUF SCR (Estimate: $1,900,000 - $2,300,000). Paying tribute to the original SCR that helped establish RUF’s reputation some four decades earlier, each modern SCR is built individually to customer specification. The SCR is a ground-up RUF design in every meaningful sense. Its structure is entirely engineered from scratch and not a "body in white” supplied by Porsche. It consists of a carbon-fiber monocoque with front and rear spaceframes bonded to the central tub and an integrated roll cage fabricated from high-strength steel. The aerodynamically optimized carbon-fiber bodywork evokes the silhouette of the air-cooled 911 while concealing engineering that owes nothing to Stuttgart. The stunning design is powered by a 510-horsepower naturally aspirated 4.0-liter flat-six, delivering 0-62 mph in 3.4 seconds and a 199-mph top speed through rear-wheel drive, a six-speed manual gearbox, and a limited-slip differential delivering a pure, tactile driving experience.

The SCR is the clearest expression yet of what RUF is capable of when given a blank sheet of paper. Chassis 06025 presents that philosophy in one of the most arresting configurations yet completed, finished in vivid Paint to Sample Türkisblau (Turkish Blue) complemented by matte Titanium Grey 19-inch forged center-lock five-spoke RUF wheels over a RUF Black Nappa leather interior with black stitching, accented by carbon-fiber trim and Türkisblau embroidery. The car’s careful assembly is documented by a comprehensive digital file of build images, offering a glimpse into the craftsmanship involved in creating one of Pfaffenhausen’s most exclusive modern cars. As a highly exclusive, made-to-order RUF offered at Broad Arrow’s Porsche Air|Water Auction in like-new condition with delivery mileage, chassis 06025 is surely among the most collectible RUF automobiles to reach the market in recent memory. 

“Today’s younger and most active car collectors are after the best, most exclusive examples of modern performance icons,” says Alexander Weaver, Senior Car Specialist and VP of Private Sales for Broad Arrow. “The Porsche 918 Spyder Weissach, the 959 SC, and the RUF SCR fit this bill, offering the ultimate in performance and luxury from two of the hobby’s most renowned and most collectible brands. These are all low-mileage, pristine examples in exceptional colors, factors that continue to draw eyes and premium results. We look forward to finding these and the entire selection of fantastic cars on offer a new home at Air|Water amongst the passionate Porsche community.”

Additional highlights for Broad Arrow’s 2026 Porsche Air|Water Auction include highly sought-after models from the Porsche restomod and tuning manufacturer realm. A 1990 Porsche 911 Coupe Reimagined by Singer known as the “Lindsey Commission” (Estimate: $1,000,000 - $1,300,000) offers purposeful perfection for the road, inspired by the feeling of the track. Founded in 2009 by Rob Dickinson, Singer Vehicle Design has redefined what it means to restore and reimagine the Porsche 911. Guided by Dickinson’s philosophy that “Everything is important,” the Classic model represents the purist vision of Singer’s fusion of heritage and modern engineering. This particular car was formerly known as the Auburn Commission and was recently returned to Singer and reborn as the “Lindsey Commission”. Elegant details like a custom Light Ivory exterior, a Cumin leather interior, and Nickel-finished trim throughout are complemented by an Ed Pink-built 4.0-liter air-cooled flat-six, delivering all-wheel-drive through a six-speed manual transmission. The Lindsey Commission proves that some of Singer’s most restrained work may also be its most captivating.

Finally, a 2007 RUF Rt12 (Estimate: $700,000 - $800,000) rounds out the group, offering a rare example of RUF Automobile’s first true ground-up design. Chassis number W09BD03867PR06089 is one of approximately 57 Rt12s delivered in the model’s five-year production run, and the only example finished in Carrara White over trim-to-sample BMW M Sport Red leather. Heavily optioned with the twin-turbocharged 3.8-liter 650-horsepower engine, six-speed manual transmission, all-wheel drive, and more, the Rt12 has seen just three owners and 3,233 miles covered from new.

An updated list of all Porsches and Porsche memorabilia set for Broad Arrow’s 2026 Porsche Air|Water Auction is available at broadarrowauctions.com. Interested bidders are invited to speak with a Broad Arrow car specialist by emailing [email protected] or by calling +1-313-312-0780.

Members of the press on official editorial assignment, along with qualified content creators, are invited to apply for media credentials to attend Broad Arrow’s Porsche Air|Water preview and auction by writing to the Broad Arrow Press Team at [email protected].

Editor’s Notes

About Broad Arrow Auctions 

Broad Arrow Auctions, driven by Hagerty (NYSE: HGTY), is a leading global collector car auction house founded in 2021 by industry veterans. As the fastest-growing auction house in its segment, Broad Arrow connects exceptional collector cars with enthusiasts worldwide through flagship events including The Broad Arrow Quail Auction (the official auction of The Quail, A Motorsports Gathering), The Amelia Concours Auction (the official auction of The Amelia Concours), The Porsche Auction in collaboration with Air | Water by Luftgekühlt, the Las Vegas Auction in partnership with Concours at Wynn Las Vegas, as well as international auctions held in partnership with Concorso d’Eleganza Villa d’Este, Zoute Grand Prix, and Auto Zürich.

Learn more at broadarrowauctions.com and follow us on Instagram, Facebook, LinkedIn, and X. 

About Hagerty, Inc. (NYSE: HGTY)

Hagerty is a company built by drivers for drivers, protecting 2.7 million vehicles in the United States, Canada and the UK. We make it easier and more enjoyable for enthusiasts to drive and celebrate the machines they love through innovative insurance products, live and digital auctions, engaging media and events, as well as the Hagerty Drivers Club, the world’s largest community of car lovers.  

For more information, please visit www.hagerty.com or www.newsroom.hagerty.com.   

Forward-Looking Statements - This press release contains statements that constitute “forward-looking statements” within the meaning of the federal securities laws. All statements provided, other than statements of historical fact, are forward-looking statements, including those regarding Hagerty’s future operating results and financial position, Hagerty’s business strategy and plans, products, services, and technology implementations, market conditions, growth and trends, expansion plans and opportunities, and Hagerty’s objectives for future operations. The words “anticipate,” “believe,” “envision,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “ongoing,” “contemplate,” and similar expressions, and the negative of these expressions, are intended to identify forward-looking statements.

Hagerty has based these forward-looking statements largely on current expectations about future events, which may not materialize. Actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. These factors include, among other things, Hagerty’s ability to: (i) compete effectively within our industry and attract and retain our insurance policyholders and paid Hagerty Drivers Club (“HDC”) subscribers; (ii) maintain key strategic relationships with our insurance distribution and underwriting carrier partners; (iii) prevent, monitor, and detect fraudulent activity; (iv) manage risks associated with disruptions, interruptions, outages or other issues with our technology platforms or our use of third-party services; (v) accelerate the adoption of our membership and marketplace products and services, as well as any new insurance programs and products we offer; (vi) manage the cyclical nature of the insurance business, including through any periods of recession, economic downturn or inflation; (vii) address unexpected increases in the frequency or severity of claims, and (viii) comply with the numerous laws and regulations applicable to our business, including state, federal and foreign laws relating to insurance and rate increases, privacy, the internet, and accounting matters.

The forward-looking statements herein represent the judgment of Hagerty as of the date of this release and Hagerty disclaims any intent or obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise. This press release should be read in conjunction with the information included in Hagerty’s other press releases, reports and other filings with the Securities and Exchange Commission. Understanding the information contained in these filings is important in order to fully understand Hagerty’s reported financial results and its business outlook for future periods.

2015 Porsche 918 Spyder Weissach Package 1988 Porsche 959 SC Reimagined by Canepa

Grosse Pointe, Michigan, April 10, 2026 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, driven by Hagerty (NYSE: HGTY), is proud to present a unique opportunity—the first North American public auction of a Gordon Murray Automotive T.50. This very special single-car live auction is set for April 21 at the Allegretto Vineyard Resort in Paso Robles, California, a stop along the journey of the celebrated California Mille tour, driven by Hagerty. 

A portion of proceeds from the sale of this incredibly rare supercar will benefit both the California Highway Patrol (CHP) 11-99 Foundation, which provides emergency assistance to California Highway Patrol employees and their families, as well as McPherson College’s renowned Automotive Restoration Program in honor of its 50th anniversary.

Designed and built to be the world’s greatest driver’s car, the Gordon Murray Automotive T.50 captured Top Gear’s Hypercar of the Year Award in 2023, when it was proclaimed “the best driver’s car in the world”. As the next astonishing supercar from the creator of the McLaren F1, the T.50 did not disappoint. The complete production run of just 100 cars was fully allocated ahead of its global premiere in August 2020, where the car’s incredible performance statistics were revealed: its 3.9-liter Cosworth GMA V-12 naturally aspirated engine produces 661 horsepower at 11,000 rpm with a maximum engine speed of 12,100 rpm. That power is driven through a six-speed manual transmission and boosted by active and fan-assisted aerodynamics, all boasting a sub-1,000-kilogram dry weight. 

In a call-back to one of Gordon Murray’s most famous and short-lived technical inventions, the T.50 was designed with an integrated rearward-facing fan much the same as the 1977 Formula One Brabham BT46 “Fan Car.” All told, the 400-mm rear-mounted fan boosts underbody ground effect by 50 percent and provides a sense of technical and styling drama to a silhouette bereft of a deep front splitter, noticeable air ducts, and large wings. 

Aesthetically, the T.50 boasts simple design, attention to detail, and of course, Gordon Murray’s signature center-seat layout. The car on offer at Broad Arrow’s unique auction on the California Mille, chassis number 009, is a U.S.-market example in bespoke Reef finish with satin and gloss carbon exterior details, complemented by Graphite Gloss wheels. The glass roof option was selected, and inside, the center driver’s seat is upholstered in Dune leather while both passenger-side seats were selected in Thruxton Blue leather and Athol Blue Alcantara. The motorsport-inspired dashboard is covered in matching Athol Blue Alcantara with Chromite Black leather atop the gauge pod.

“The T.50 is a supercar that not only was collectible before it was even built, but one that will go down in automotive history as a defining technological tour de force, much like its predecessor, the McLaren F1,” says Alexander Weaver, Senior Car Specialist and Vice President at Broad Arrow. “All GMA models have been fully allocated ahead of their release, with the T.50 being the only model built while legendary F1 designer Gordon Murray had complete control of the company. We’re honored to present one of the most important road cars of the 21st century, and arguably the world’s greatest driver’s car, on the California Mille, an event that celebrates passion for driving on some of the country’s most beautiful roads.”

T.50 chassis number 009 is offered with a mere 27 miles on its odometer, reflective of light testing and delivery. The car is accompanied by a full complement of original delivery accessories, including a four-piece fitted luggage set, a serialized tool chest, a diagnostics tablet computer, two keys, owner’s manuals, and a photo album documenting the assembly of chassis 009. The T.50 is estimated to bring $8,000,000 to $10,000,000.

Renowned race car driver, restorer, and collector, Bruce Canepa, alongside noted collector and founding board member of the CHP 11-99 Foundation, Bruce Meyer, will introduce the T.50, and Auctioneer Eli Rodriguez will conduct the bidding at the Allegretto Vineyard Resort. This year’s California Mille pays special tribute to the Gordon Murray Automotive T.50, with five examples set to participate. The winning bidder of chassis 009 is invited to drive the car on the remainder of the tour following the sale on April 21, joining an exclusive club of nearly unobtainable ownership and otherworldly performance.

In-person, absentee, and telephone bidding will be available on the 2025 Gordon Murray Automotive T.50. A complete catalog listing on the car as well as bidder registration is available at broadarrowauctions.com. Interested bidders are invited to speak with a Broad Arrow car specialist by emailing [email protected] or by calling +1-313-312-0780.

Editor’s Notes

Photo Captions/Credits: All images of the 2025 Gordon Murray Automotive T.50 are by Patrick Ernzen/Courtesy of Broad Arrow Auctions.

About Broad Arrow Auctions

Broad Arrow Auctions, driven by Hagerty (NYSE: HGTY), is a leading global collector car auction house founded in 2021 by industry veterans. As the fastest-growing auction house in its segment, Broad Arrow connects exceptional collector cars with enthusiasts worldwide through flagship events including The Broad Arrow Quail Auction (the official auction of The Quail, A Motorsports Gathering), The Amelia Concours Auction (the official auction of The Amelia Concours), The Porsche Auction in collaboration with Air | Water by Luftgekühlt, the Las Vegas Auction in partnership with Concours at Wynn Las Vegas, as well as international auctions held in partnership with Concorso d’Eleganza Villa d’Este, Zoute Grand Prix, and Auto Zürich.

Learn more at broadarrowauctions.com and follow us on Instagram, Facebook, LinkedIn, and X. 

About Hagerty, Inc. (NYSE: HGTY)

Hagerty is a company built by drivers for drivers, protecting 2.7 million vehicles in the United States, Canada and the UK. We make it easier and more enjoyable for enthusiasts to drive and celebrate the machines they love through innovative insurance products, live and digital auctions, engaging media and events, as well as the Hagerty Drivers Club, the world’s largest community of car lovers.  

For more information, please visit www.hagerty.com or www.newsroom.hagerty.com.   

Forward-Looking Statements - This press release contains statements that constitute “forward-looking statements” within the meaning of the federal securities laws. All statements provided, other than statements of historical fact, are forward-looking statements, including those regarding Hagerty’s future operating results and financial position, Hagerty’s business strategy and plans, products, services, and technology implementations, market conditions, growth and trends, expansion plans and opportunities, and Hagerty’s objectives for future operations. The words “anticipate,” “believe,” “envision,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “ongoing,” “contemplate,” and similar expressions, and the negative of these expressions, are intended to identify forward-looking statements.

Hagerty has based these forward-looking statements largely on current expectations about future events, which may not materialize. Actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. These factors include, among other things, Hagerty’s ability to: (i) compete effectively within our industry and attract and retain our insurance policyholders and paid Hagerty Drivers Club (“HDC”) subscribers; (ii) maintain key strategic relationships with our insurance distribution and underwriting carrier partners; (iii) prevent, monitor, and detect fraudulent activity; (iv) manage risks associated with disruptions, interruptions, outages or other issues with our technology platforms or our use of third-party services; (v) accelerate the adoption of our membership and marketplace products and services, as well as any new insurance programs and products we offer; (vi) manage the cyclical nature of the insurance business, including through any periods of recession, economic downturn or inflation; (vii) address unexpected increases in the frequency or severity of claims, and (viii) comply with the numerous laws and regulations applicable to our business, including state, federal and foreign laws relating to insurance and rate increases, privacy, the internet, and accounting matters.

The forward-looking statements herein represent the judgment of Hagerty as of the date of this release and Hagerty disclaims any intent or obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise. This press release should be read in conjunction with the information included in Hagerty’s other press releases, reports and other filings with the Securities and Exchange Commission. Understanding the information contained in these filings is important in order to fully understand Hagerty’s reported financial results and its business outlook for future periods.

2025 Gordon Murray Automotive T.50 set for Broad Arrow's auction during the California Mille 2025 Gordon Murray Automotive T.50 set for Broad Arrow's auction during the California Mille

2025 Gordon Murray Automotive T.50 set for Broad Arrow's auction during the California Mille Credit - Patrick Ernzen/Courtesy of Broad Arrow Auctions 2025 Gordon Murray Automotive T.50 set for Broad Arrow's auction during the California Mille Credit - Patrick Ernzen/Courtesy of Broad Arrow Auctions

BICESTER, United Kingdom, April 14, 2026 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, driven by Hagerty (NYSE: HGTY), will present some of the greatest modern supercars and hypercars at its Concorso d’Eleganza Villa d’Este Auction from 16-17 May 2026 at Villa Erba on the shores of Lake Como.

Leading the stellar line-up for the official auction of the revered Concorso is a truly unique 2018 Pagani Zonda 760 Unica Roadster, an incredible example of one of the most dramatic and exhilarating hypercars of recent times. Finished in Blue Carbon, reminiscent of the Zonda Tricolore, the interior features distinctive blue and white trim that perfectly complements the magnificent milled aluminium switchgear. This bespoke creation from Pagani’s One-Off Zonda 760 Series was commissioned by the founder of Top Car Design in Spain and is powered by the ferocious 7.3 litre V12 engine sourced from Mercedes-AMG. Undoubtedly one of the most covetable Pagani creations, this era-defining hypercar has driven only 2,616 kilometres, many at exclusive owners’ events across Switzerland, at one of which Horacio Pagani himself drove the car, further adding to its illustrious provenance.

“We are extremely proud to present the unique Pagani Zonda 760 Unica Roadster to collectors at our second sale as the official auction partner of the Concorso d’Eleganza Villa d’Este,” says Joe Twyman, VP of Sales EMEA Region for Broad Arrow Auctions. “Its Italian heritage and immense desirability make it perfectly fitting that it should be in the catalogue for what is undoubtedly the jewel in the international collector car auction calendar. We can’t wait to welcome collectors from around the world to Villa Erba for this exciting sale.”

Naturally, for the most prestigious collector car auction to be held in Italy, the Pagani is joined by some of the most desirable modern collectibles from the stables of Ferrari and Lamborghini, including:

2023 Ferrari 812 Competizione (Estimate: €1.250.000 - €1.450.000)

The Ferrari 812 Competizione is the ultimate example of Enzo Ferrari’s obsession with the V12, a pure GT that delivers exhilarating performance combined with touring comfort. Only 999 examples were built and chassis no. 300628 is undoubtedly one of the most striking. Treated to a number of desirable options through Ferrari’s Atelier programme, it is finished in four-layer Green Jewel paint with a livery of Bianco Cervino and Nero D.S. stripes. Exposed carbon fibre adds to the superb specification, as do the lightweight 20-inch forged diamond-finish wheels and an interior tailored in Nero Alcantara with racing seats trimmed in a distinctive checked pattern. Showing only 673 kilometres at the time of cataloguing, this is certainly one of the most collectable examples of the 812 Competizione and a fitting tribute to the bloodline of Ferrari’s revered V12.

2022 Ferrari SF90 Spider (Estimate: €350.000 - €450.000 | Offered Without Reserve)

This rare Netherlands-delivered example of the Ferrari SF90 Spider is attractively finished in Verde Zeltweg over Cuoio leather and Alcantara. Driven only 450 kilometres at the time of cataloguing, it features fully electric Daytona-style sports seats, front axle lift and a sonorous twin-turbo 4.0 litre V8 which, combined with three electric motors, generates over 985 horsepower. Its incredible performance, superb design and open-top thrills make this a very enticing opportunity for any Ferrari collector.

2022 Lamborghini Countach LPI 800-4 (Estimate: €1.750.000 - €2.000.000)

The Lamborghini Countach is one of the most iconic cars of all time and one which Lamborghini’s design director, Mitja Borkert, and his team successfully reinterpreted in 2021 as the Countach LPI 800-4, using the Aventador as its foundation. This 2022 example is one of only five finished in Luci del Bosco, a colour inspired by the brown available for the original Countach. Matte bronze wheels add further to the dramatic exterior, while the interior features an exclusive Lamborghini Ad Personam option of Bianco Leda. Meticulously cared for by its current owner, the V12 hybrid powertrain has propelled this exceptional example only 124 kilometres at the time of cataloguing, ensuring that this is one of the finest available.

2009 Lamborghini Murciélago LP640-4 Coupé (Estimate: €850.000 - €1.150.000)

While every example of Sant’Agata Bolognese’s incredible Murciélago is special, this one is even more so, as one of only 88 manufactured that paired the glorious 6.5 litre V12 with a six-speed gated manual transmission. Enhancing its desirability even further is that it is believed to be the only manual model finished in stunning Celeste Phoebe blue. Lamborghini’s Ad Personam bespoke department also created its Nero Perseus Q-Citura diamond pattern leather upholstery, upper dashboard and carpets, complemented by Azzurro Australis for the lower dashboard, carpet piping and inverted stitching. The superb list of options extends to a glass engine cover, carbon ceramic brakes and Hermera wheels. As the last analogue V12 supercar from Lamborghini, the Murciélago is one of the most desirable models from the famous marque, and the manual-equipped derivative ranks as the most collectable of all.

“These prestigious supercars represent some of the best of their genre,” says Bastian Voigt, Car Specialist and Head of Consignments for Broad Arrow in Germany. “Extremely collectable, they are the performance icons of modern generations, cars that stir emotion even when standing still. They take their place alongside the Honda NSX-R and the cars that defined performance for previous generations, including the 1926 Bugatti Type 37 Grand Prix, the 1957 Mercedes-Benz 300 SL Gullwing and the timeless Ferrari F40 in a catalogue that showcases the very best of the collector car world.”

Interested bidders are invited to contact a Broad Arrow Car Specialist at +44 20 4592 0169 (UK), + 32 476 879 471 (Europe) or on +1 313 312 0780 (North America) or via email at [email protected]. Bidder registration and further details on all cars on offer are available at broadarrowauctions.com. Collectors are also invited to discuss consignments for other Broad Arrow auctions taking place in Europe in 2026, including the Zoute Concours Auction on 9 October and Zürich Auction on 7 November.

Ends. 

For media enquiries relating to Broad Arrow Auctions, including accreditation for the auction at the Concorso d’Eleganza Villa d’Este, please contact a member of the press team.

Editor’s Notes

About Broad Arrow Auctions 

Broad Arrow Auctions, driven by Hagerty (NYSE: HGTY), is a leading global collector car auction house founded in 2021 by industry veterans. As the fastest-growing auction house in its segment, Broad Arrow connects exceptional collector cars with enthusiasts worldwide through flagship events including The Quail Auction (the official auction of The Quail, A Motorsports Gathering), The Amelia Concours Auction (the official auction of The Amelia Concours), The Porsche Auction in collaboration with Air | Water by Luftgekühlt, the Las Vegas Auction in partnership with Concours at Wynn Las Vegas, as well as international auctions held in partnership with Concorso d’Eleganza Villa d’Este, Zoute Grand Prix, and Auto Zürich. Learn more at broadarrowauctions.com and follow us on Instagram, Facebook, LinkedIn, and X.  

About Hagerty, Inc. (NYSE: HGTY)

Hagerty is a company built by drivers for drivers, protecting 2.7 million vehicles in the United States, Canada and the UK. We make it easier and more enjoyable for enthusiasts to drive and celebrate the machines they love through innovative insurance products, live and digital auctions, engaging media and events, as well as the Hagerty Drivers Club, the world’s largest community of car lovers.  

For more information, please visit www.hagerty.com or www.newsroom.hagerty.com.   

Forward-Looking Statements - This press release contains statements that constitute “forward-looking statements” within the meaning of the federal securities laws. All statements provided, other than statements of historical fact, are forward-looking statements, including those regarding Hagerty’s future operating results and financial position, Hagerty’s business strategy and plans, products, services, and technology implementations, market conditions, growth and trends, expansion plans and opportunities, and Hagerty’s objectives for future operations. The words “anticipate,” “believe,” “envision,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “ongoing,” “contemplate,” and similar expressions, and the negative of these expressions, are intended to identify forward-looking statements.

Hagerty has based these forward-looking statements largely on current expectations about future events, which may not materialize. Actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. These factors include, among other things, Hagerty’s ability to: (i) compete effectively within our industry and attract and retain our insurance policyholders and paid Hagerty Drivers Club (“HDC”) subscribers; (ii) maintain key strategic relationships with our insurance distribution and underwriting carrier partners; (iii) prevent, monitor, and detect fraudulent activity; (iv) manage risks associated with disruptions, interruptions, outages or other issues with our technology platforms or our use of third-party services; (v) accelerate the adoption of our membership and marketplace products and services, as well as any new insurance programs and products we offer; (vi) manage the cyclical nature of the insurance business, including through any periods of recession, economic downturn or inflation; (vii) address unexpected increases in the frequency or severity of claims, and (viii) comply with the numerous laws and regulations applicable to our business, including state, federal and foreign laws relating to insurance and rate increases, privacy, the internet, and accounting matters.

The forward-looking statements herein represent the judgment of Hagerty as of the date of this release and Hagerty disclaims any intent or obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise. This press release should be read in conjunction with the information included in Hagerty’s other press releases, reports and other filings with the Securities and Exchange Commission. Understanding the information contained in these filings is important in order to fully understand Hagerty’s reported financial results and its business outlook for future periods. 

2018 Pagani Zonda 760 Unica set for Broad Arrow's Concorso d'Eleganza Villa d'Este Auction 2018 Pagani Zonda 760 Unica set for Broad Arrow's Concorso d'Eleganza Villa d'Este Auction

2018 Pagani Zonda 760 Unica set for Broad Arrow's Concorso d'Eleganza Villa d'Este Auction Credit - Keno Zache/Courtesy of Broad Arrow Auctions 2018 Pagani Zonda 760 Unica set for Broad Arrow's Concorso d'Eleganza Villa d'Este Auction Credit - Keno Zache/Courtesy of Broad Arrow Auctions

Paso Robles, California, April 22, 2026 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, driven by Hagerty (NYSE: HGTY), is thrilled to announce the result of a unique, single-car auction—the first North American public auction of a Gordon Murray Automotive T.50—at a stop along the celebrated California Mille on the evening of April 21 in Paso Robles, California.

The 2025 Gordon Murray Automotive T.50, chassis number 009, is one of 100 examples built of “the world’s greatest driver’s car”, with the example on offer finished in bespoke Reef red and showing less than 30 delivery miles. The famed modern supercar from the designer of the McLaren F1 is powered by a 3.9-liter Cosworth GMA V-12 naturally aspirated engine, producing 661 horsepower at 11,000 rpm with a maximum engine speed of 12,100 rpm. That power is driven through a six-speed manual transmission and boosted by active and fan-assisted aerodynamics, all boasting a sub-1,000-kilogram dry weight.

The T.50 was presented during a dinner held for California Mille participants, drawing significant interest from multiple bidders in the room and eventually selling for a final $8,035,000 to a rally entrant. The 2026 California Mille pays special tribute to the Gordon Murray Automotive T.50, with five examples participating in the rally. A portion of proceeds from the sale of this incredibly rare supercar will benefit both the California Highway Patrol (CHP) 11-99 Foundation, which provides emergency assistance to California Highway Patrol employees and their families, as well as McPherson College’s renowned Automotive Restoration Program in honor of its 50th anniversary.

“The T.50 result is another spectacular example of the strength of the supercar market among today’s most active collectors,” says Alexander Weaver, Senior Car Specialist and Vice President at Broad Arrow. “This nearly unobtainable icon from the legendary Gordon Murray is one of the cars to have, and we were honored to present it to a room of some of the world’s preeminent collectors and driving enthusiasts along one of the most beautiful tours in the hobby.”

Results and more information on the T.50 are available at broadarrowauctions.com. Broad Arrow continues its auction calendar in Southern California this weekend on April 25, with the company’s third annual single-marque Porsche Air|Water Auction during the renowned Air|Water Experience by the creators of Luftgekühlt. More than 60 exceptional Porsche and RUF collector cars along with a selection of sought-after Porsche memorabilia items are on offer, led by a PTS Riviera Blue 2015 Porsche 918 Spyder Weissach Package and a Viper Green 1988 Porsche 959 SC Reimagined by Canepa, and a 2025 RUF SCR. Learn more and register to bid at broadarrowauctions.com.

Editor’s Notes

Photo Captions/Credits: Catalog images of the 2025 Gordon Murray Automotive T.50 are by Patrick Ernzen/Courtesy of Broad Arrow Auctions. Auction images are by Andrew Snucins/Courtesy of Broad Arrow Auctions.

About Broad Arrow Auctions

Broad Arrow Auctions, driven by Hagerty (NYSE: HGTY), is a leading global collector car auction house founded in 2021 by industry veterans. As the fastest-growing auction house in its segment, Broad Arrow connects exceptional collector cars with enthusiasts worldwide through flagship events including The Broad Arrow Quail Auction (the official auction of The Quail, A Motorsports Gathering), The Amelia Concours Auction (the official auction of The Amelia Concours), The Porsche Auction in collaboration with Air | Water by Luftgekühlt, the Las Vegas Auction in partnership with Concours at Wynn Las Vegas, as well as international auctions held in partnership with Concorso d’Eleganza Villa d’Este, Zoute Grand Prix, and Auto Zürich.

Learn more at broadarrowauctions.com and follow us on Instagram, Facebook, LinkedIn, and X. 

About Hagerty, Inc. (NYSE: HGTY)

Hagerty is a company built by drivers for drivers, protecting 2.7 million vehicles in the United States, Canada and the UK. We make it easier and more enjoyable for enthusiasts to drive and celebrate the machines they love through innovative insurance products, live and digital auctions, engaging media and events, as well as the Hagerty Drivers Club, the world’s largest community of car lovers.  

For more information, please visit www.hagerty.com or www.newsroom.hagerty.com.   

Forward-Looking Statements - This press release contains statements that constitute “forward-looking statements” within the meaning of the federal securities laws. All statements provided, other than statements of historical fact, are forward-looking statements, including those regarding Hagerty’s future operating results and financial position, Hagerty’s business strategy and plans, products, services, and technology implementations, market conditions, growth and trends, expansion plans and opportunities, and Hagerty’s objectives for future operations. The words “anticipate,” “believe,” “envision,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “ongoing,” “contemplate,” and similar expressions, and the negative of these expressions, are intended to identify forward-looking statements.

Hagerty has based these forward-looking statements largely on current expectations about future events, which may not materialize. Actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. These factors include, among other things, Hagerty’s ability to: (i) compete effectively within our industry and attract and retain our insurance policyholders and paid Hagerty Drivers Club (“HDC”) subscribers; (ii) maintain key strategic relationships with our insurance distribution and underwriting carrier partners; (iii) prevent, monitor, and detect fraudulent activity; (iv) manage risks associated with disruptions, interruptions, outages or other issues with our technology platforms or our use of third-party services; (v) accelerate the adoption of our membership and marketplace products and services, as well as any new insurance programs and products we offer; (vi) manage the cyclical nature of the insurance business, including through any periods of recession, economic downturn or inflation; (vii) address unexpected increases in the frequency or severity of claims, and (viii) comply with the numerous laws and regulations applicable to our business, including state, federal and foreign laws relating to insurance and rate increases, privacy, the internet, and accounting matters.

The forward-looking statements herein represent the judgment of Hagerty as of the date of this release and Hagerty disclaims any intent or obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise. This press release should be read in conjunction with the information included in Hagerty’s other press releases, reports and other filings with the Securities and Exchange Commission. Understanding the information contained in these filings is important in order to fully understand Hagerty’s reported financial results and its business outlook for future periods.

The 2025 Gordon Murray Automotive T.50, chassis 009, offered during Broad Arrow's special single-car auction on the 2026 California Mille Rally Broad Arrow Auctioneer Eli Rodriguez conducts bidding for the sale of the 2025 Gordon Murray Automotive T.50 at the Allegretto Vineyard Resort stop on the 2026 California Mille

The 2025 Gordon Murray Automotive T.50, chassis 009, offered during Broad Arrow's special single-car... Credit - Patrick Ernzen/Courtesy of Broad Arrow Auctions Broad Arrow Auctioneer Eli Rodriguez conducts bidding for the sale of the 2025 Gordon Murray Automot... Credit - Andrew Snucins/Courtesy of Broad Arrow Auctions

BICESTER, United Kingdom, April 24, 2026 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, driven by Hagerty (NYSE: HGTY), is proud to present the exceptional catalogue of collector cars for its second annual sale as the official auction partner of the Concorso d’Eleganza Villa d’Este Auction, set for 16-17 May at Villa Erba on the shores of Lake Como.

The sale features over 75 curated collector cars and a selection of memorabilia available to view via the newly launched digital catalogue, with a highly sought-after Ferrari Daytona SP3 leading an unrivalled selection of 20 collectable Ferrari models.

“Our Concorso d’Eleganza Villa d’Este Auction is now an eagerly anticipated event,” says Joe Twyman, VP of Sales for Broad Arrow’s EMEA Region. “Broad Arrow continues to distinguish itself through a thoughtful, highly selective approach to consignments, and this stunning Ferrari Daytona SP3 confirms that. Rather than relying on spectacle, we have built a reputation for carefully composed consignments that speak directly to knowledgeable collectors, and our choice of very special Ferraris to be presented at Villa Erba speaks for itself.”

2023 Ferrari Daytona SP3 (Estimate: €6.500.000 - €8.500.000)

One of just 600 Daytona SP3s produced, this single-owner example displays only 743 kilometres. Finished in Rosso Magma Tri-Coat over a Blu Elettrico Alcantara interior, the car features numerous carbon fibre elements, airbrushed fender shields, a suspension lifter and it is supplied with a carbon fibre hardtop.

The Ferrari Daytona SP3, the second model in Ferrari’s ‘Icona Series,’ is a tribute to the 6th of February 1967 when Ferrari swept to first, second and third at the 24 Hours of Daytona, completing a very personal act of defiance against Henry Ford II. 

Years later, SP3 designer Jason Furtado spent three years under Ferrari chief designer Flavio Manzoni translating those prototype racers into something road-legal. It adopts styling cues from the 1967 winning 330 P3/4s and many other iconic Ferraris, including Pininfarina's 1968 250 P5 Berlinetta Speciale concept.

Behind the driver sits a 6.5 litre naturally aspirated V12, producing 829 horsepower—Ferrari's most powerful road-going engine ever. Derived from the 812 Competizione's F140 unit, it was thoroughly reworked with titanium pistons, cams, connecting rods and valves.

Only 600 SP3s were built, selling out before production began. This example, finished in Rosso Magma Tri-Coat has its lower bodywork, hardtop, outer mirrors and bonnet lip all rendered in carbon fibre, in keeping with the model’s weight-conscious ethos. Gloss black callipers feature, along with coveted airbrushed Scuderia Ferrari shields and the diamond-polished forged wheels complete the exterior specification. This is certainly one of the most collectable and sought-after modern Ferraris in today’s market.

2008 Ferrari 430 Scuderia (Estimate: €700.000 - €800.000)

This stunning Ferrari 430 Scuderia was ordered new through Ferrari dealer, Lumani Krüger in Germany in Porsche Grün over Tessuto Nero, thought to be the only example of its type finished in this shade. The vibrant paint was paired with equally striking gold racing stripes and gold-finished 19-inch alloy wheels, making it one of the most striking Scuderia specifications ever created. This car is also highly specified with four-point harnesses, a rollover bar, carbon fibre front and rear elements, carbon entry sills, a carbon LED steering wheel trimmed in Alcantara and Verde deviated stitching throughout.

At the time of cataloguing, this 430 Scuderia shows fewer than 10,000 kilometres and is offered at a time when special series, naturally aspirated Ferraris continue to command intense attention from discerning collectors.

Additional Ferraris featured in Broad Arrow’s Concorso d’Eleganza Villa d’Este Auction include: 

1956 Ferrari 250 GT Boano Alloy Coupe 1968 Ferrari 330 GTC (Offered without reserve)1968 Ferrari 330 GTS1972 Ferrari Dino 246 GT (Offered without reserve)1973 Ferrari Dino 246 GTS1979 Ferrari 308 GTS (Offered without reserve)1988 Ferrari 328 GTS (Offered without reserve)1990 Ferrari F40 1993 Ferrari 512 TR2004 Ferrari 612 Scaglietti – Manual Transmission (Offered without reserve)1996 Ferrari F512M2002 Ferrari 550 Barchetta Pininfarina 2004 Ferrari 360 Challenge Stradale 2008 Ferrari 599 GTB Fiorano (Offered without reserve)2010 Ferrari 599 GTB Fiorano HGTE2022 Ferrari 812 Competizione 2024 Ferrari SF90 Spider (Offered without reserve) “We are truly excited to present the complete catalogue for our Concorso d’Eleganza Villa d’Este Auction,” says Philip Kantor, Vice Chairman of Europe and Senior Car Specialist for Broad Arrow. “We have everything from modern classic supercars to the very earliest examples of motoring, a perfect selection to offer the most discerning collectors on the beautiful shores of Lake Como.”

The full 2026 Concorso d’Eleganza Villa d’Este Auction digital catalogue can be viewed here. 

Interested bidders are invited to contact a Broad Arrow Car Specialist at +44 20 4592 0169 (UK), + 32 476 879 471 (Europe) or on +1 313 312 0780 (North America) or via email at [email protected]. Bidder registration and further details on all cars on offer are available at broadarrowauctions.com. Collectors are also invited to discuss consignments for other Broad Arrow auctions taking place in Europe in 2026, including the Zoute Concours Auction on 9 October and Zürich Auction on 7 November.

Members of the press on official editorial assignment and like-minded content creators are invited to apply for media credentials to attend Broad Arrow’s Concorso d’Eleganza Villa d’Este preview and auction by writing to [email protected] until 1 May, 2026.

Ends.

Editor’s Notes  

About Broad Arrow Auctions

Broad Arrow Auctions, driven by Hagerty (NYSE: HGTY), is a leading global collector car auction house founded in 2021 by industry veterans. As the fastest-growing auction house in its segment, Broad Arrow connects exceptional collector cars with enthusiasts worldwide through flagship events including The Broad Arrow Quail Auction (the official auction of The Quail, A Motorsports Gathering), The Amelia Concours Auction (the official auction of The Amelia Concours), The Porsche Auction in collaboration with Air | Water by Luftgekühlt, the Las Vegas Auction in partnership with Concours at Wynn Las Vegas, as well as international auctions held in partnership with Concorso d’Eleganza Villa d’Este, Zoute Grand Prix, and Auto Zürich.

Learn more at broadarrowauctions.com and follow us on Instagram, Facebook, LinkedIn, and X. 

About Hagerty, Inc. (NYSE: HGTY)

Hagerty is a company built by drivers for drivers, protecting 2.7 million vehicles in the United States, Canada and the UK. We make it easier and more enjoyable for enthusiasts to drive and celebrate the machines they love through innovative insurance products, live and digital auctions, engaging media and events, as well as the Hagerty Drivers Club, the world’s largest community of car lovers.  

For more information, please visit www.hagerty.com or www.newsroom.hagerty.com.   

Forward-Looking Statements - This press release contains statements that constitute “forward-looking statements” within the meaning of the federal securities laws. All statements provided, other than statements of historical fact, are forward-looking statements, including those regarding Hagerty’s future operating results and financial position, Hagerty’s business strategy and plans, products, services, and technology implementations, market conditions, growth and trends, expansion plans and opportunities, and Hagerty’s objectives for future operations. The words “anticipate,” “believe,” “envision,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “ongoing,” “contemplate,” and similar expressions, and the negative of these expressions, are intended to identify forward-looking statements.

Hagerty has based these forward-looking statements largely on current expectations about future events, which may not materialize. Actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. These factors include, among other things, Hagerty’s ability to: (i) compete effectively within our industry and attract and retain our insurance policyholders and paid Hagerty Drivers Club (“HDC”) subscribers; (ii) maintain key strategic relationships with our insurance distribution and underwriting carrier partners; (iii) prevent, monitor, and detect fraudulent activity; (iv) manage risks associated with disruptions, interruptions, outages or other issues with our technology platforms or our use of third-party services; (v) accelerate the adoption of our membership and marketplace products and services, as well as any new insurance programs and products we offer; (vi) manage the cyclical nature of the insurance business, including through any periods of recession, economic downturn or inflation; (vii) address unexpected increases in the frequency or severity of claims, and (viii) comply with the numerous laws and regulations applicable to our business, including state, federal and foreign laws relating to insurance and rate increases, privacy, the internet, and accounting matters.

The forward-looking statements herein represent the judgment of Hagerty as of the date of this release and Hagerty disclaims any intent or obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise. This press release should be read in conjunction with the information included in Hagerty’s other press releases, reports and other filings with the Securities and Exchange Commission. Understanding the information contained in these filings is important in order to fully understand Hagerty’s reported financial results and its business outlook for future periods.

2023 Ferrari Daytona SP3 2008 Ferrari 430 Scuderia

2023 Ferrari Daytona SP3 Credit - Remi Dargegen/Courtesy of Broad Arrow Auction 2008 Ferrari 430 Scuderia Credit - Matteo Balzanelli/Courtesy of Broad Arrow Auctions

First quarter 2026 Highlights

Completed strategic evolution to assume control of Markel program and 100% of premium post transition to fronting arrangement Strong underlying operational performance with growth in written premiums, earned premium and members Transition to fronting arrangement resulted in decrease to reported revenue as previously disclosed Written Premium increased 18% to $289 million Policies in force increased 15% to 1.8 million with a record 112,000 new policies added in the first quarter Earned premium increased 42% to $240 million Net Loss of $13 million, including $89 million of pre-tax Markel Fronting Arrangement transitional costs, compared to Net Income of $27 million in the prior year period Adjusted EBITDA (a non-GAAP measure) increased 77% to $85 million, compared to $48 million in the prior year period Reaffirmed 2026 Outlook for Written Premium growth of 15% to 16% , /PRNewswire/ -- Hagerty, Inc. (NYSE: HGTY) makes it easier and more enjoyable for car enthusiasts to drive and celebrate the vehicles they love — through specialty vehicle insurance, live and digital auctions, engaging media and events, and the Hagerty Drivers Club, the world's largest membership community of car lovers. Today the company announced financial results for the three months ended March 31, 2026.

"First quarter results and the breadth of momentum across our ecosystem give us increasing confidence in our full year outlook that we reaffirmed today. We delivered 18% written premium growth in the first quarter, ahead of our full year outlook, and earned premium growth of 42% with the January 1, 2026 increase in quota share to 100%. 2026 is performing better than expected economically, even if the financial presentation looks different as we transition to the new Markel Fronting Arrangement. The presentation is different but the business is not, as we delivered another quarter of record growth," said McKeel Hagerty, Chief Executive Officer and Chairman of Hagerty.

"Our business momentum is showing up across the ecosystem - and Broad Arrow is no exception. During the first quarter, Broad Arrow hosted the most successful sale in the 31-year history of Amelia Car Week, delivering $111 million in total sales with a 92% sell-through rate and over 1,000 bidders from 23 countries. Results like this are the product of four decades of building trust, one member and one partner at a time, and they reflect exactly the kind of member-centric company that Hagerty is building for the long-term," added Mr. Hagerty.

FIRST QUARTER 2026 FINANCIAL HIGHLIGHTS

First quarter 2026 Written Premium increased 18% year-over-year to $289 million First quarter 2026 Earned Premium increased 42% year-over-year to $240 million, driven by the combination of strong written premium growth and the January 1, 2026 transition to 100% quota share under the new fronting arrangement Policies in Force Retention was 88.5% as of March 31, 2026 compared to 89.0% in the prior year period, and policies in force count increased 15% year-over-year to 1.8 million First quarter 2026 Commission and fee revenue decreased 84% year-over-year to $16 million, as Markel commission revenue is eliminated upon consolidation under the new fronting arrangement First quarter 2026 Marketplace revenue decreased 12% year-over-year to $26 million, with strong year-over-year growth in auction sales at The Amelia offset by lower inventory sales from the prior year's one-time sale of vehicles acquired from The Academy of Art University Collection First quarter 2026 Membership and other revenue increased 6% year-over-year to $22 million Hagerty Drivers Club (HDC) paid members increased 6% year-over-year to over 940,000 First quarter 2026 Net investment income increased 13% year-over-year to $10 million First quarter 2026 Total Revenue decreased 5% year-over-year to $312 million, reflecting the transition to the Markel Fronting Arrangement First quarter 2026 Loss before taxes of $21 million, including $89 million of Markel Fronting Arrangement transitional costs First quarter 2026 Hagerty Re Loss Ratio was 38.4% compared to 42.0% in the prior year period, including $6 million of favorable prior accident year loss development First quarter 2026 Hagerty Re Combined Ratio was 86.5% compared to 88.5% in the prior year period Transition to new fronting arrangement and Article 7 reporting results in a different classification of certain expenses, impacting the period-to-period comparability of Policy acquisition costs, net (+$25 million), Underwriting and other insurance expenses (+$58 million), and Selling, general, and administrative expenses (-$72 million) First quarter 2026 Net Loss of $13 million, including $89 million of pre-tax Markel Fronting Arrangement transitional costs, compared to Net Income of $27 million in the prior year period First quarter 2026 Adjusted EBITDA (a non-GAAP measure) increased 77% year-over-year to $85 million, compared to $48 million in the prior year period First quarter 2026 Basic and Diluted Loss Per Share were $(0.06); Adjusted Diluted Loss Per Share (a non-GAAP measure) was $(0.04) The Company had $212 million of unrestricted cash and $229 million of total debt, $110 million of which was back leverage for Broad Arrow Capital's portfolio of loans collateralized by collector cars The definitions and reconciliations of non-GAAP financial measures are provided under the heading Key Performance Indicators and Certain Non-GAAP Financial Measures at the end of this press release.

2026 OUTLOOK - SUSTAINED COMPOUNDING GROWTH

We believe 2026 is on track to be another great year of underlying profit growth for Hagerty as our team executes on our long-term plan to deliver compounding premium growth through investing in our long-term competitive advantages with our member-centric approach. As of January 1, 2026, we moved to a 100% quota share arrangement with our long-term partner, Markel, where we retain 100% of the premium and risk from our high-quality, historically low volatility underwriting. We also remain focused on delivering this growth more efficiently through the benefits of scale, continued cost discipline, and investments in our technology platform.

For full year 2026, Hagerty anticipates: Written Premium growth of 15% to 16% Total Revenue change of (12)% to (11)%, as Markel-related commission revenue is eliminated under the Markel Fronting Arrangement1 Net Loss of $(51) million to $(41) million, including ~$190 million of Markel Fronting Arrangement transitional costs2 Adjusted EBITDA of $236 million to $247 million

2026 Outlook ($)

2026 Outlook (%)

in thousands

2025 Results

Low End

High End

Low End

High End

Total Written Premium

$1,193,548

$1,373,000

$1,385,000

15 %

16 %

Total Revenue1

$1,456,389

$1,280,000

$1,300,000

(12) %

(11) %

Net Income (Loss)2, 3

$149,225

$(51,000)

$(41,000)

N/M

N/M

Adjusted EBITDA4

$236,791

$236,000

$247,000

— %

4 %

1

Revenue guidance reflects the accounting impact of the Markel Fronting Arrangement. Beginning in 2026, we now control the Essentia book of business with the benefit of our MGA services received by Hagerty Re and not Essentia. As a result, commission revenue and the associated ceding commission expense for policies issued through the Markel Fronting Arrangement are now eliminated in consolidation. Although we expect the arrangement to result in increased profitability (as reflected in Adjusted EBITDA), reported commission revenue and ceding commission expense will be significantly lower than prior periods, affecting period-to-period comparability. 2025 commission revenue associated with our alliance agreement with Markel was $437 million and ceding commission expense related to the Company's reinsurance quota share agreement with Markel was $344 million in 2025.

2

The projected Net Loss includes approximately $190 million of pre-tax transitional costs related to the Markel Fronting Arrangement representing deferred ceding commissions paid to Markel for policies written prior to January 1, 2026, which will be fully amortized ratably over the remaining term of those policies throughout 2026. This amortization will decline from $89 million in Q1 2026 to approximately $10 million in Q4 2026 as 2025 policies expire. Excluding these transitional costs, we expect 2026 to reflect underlying profitability improvement.

3

Full year 2025 Net Income includes (i) the benefit from the $42 million release of a portion of our valuation allowance, partially offset by a $32 million loss related to the change in value of the TRA liability; and (ii) a $21 million reduction in reserves in the fourth quarter, primarily related to favorable development for the 2024 accident year and improvement in current accident year experience.

4

See Non-GAAP Financial Measures below for additional information regarding this non-GAAP financial measure.

N/M = Not meaningful

Conference Call Details
Hagerty will hold a conference call to discuss the financial results on Wednesday, May 6, 2026 10:00 am Eastern Time. A webcast of the conference call, including its Investor Presentation highlighting first quarter 2026 financial results, will be available on Hagerty's investor relations website at investor.hagerty.com. The dial-in for the conference call is (877) 423-9813 (toll-free) or (201) 689-8573 (international). Please dial the number 10 minutes prior to the scheduled start time.

A webcast replay of the call will be available at investor.hagerty.com following the call.

Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements" within the meaning of the federal securities laws. All statements we provide, other than statements of historical fact, are forward-looking statements, including those regarding Hagerty's future operating results and financial position, Hagerty's business strategy and plans, products, services, and technology implementations, market conditions, growth and trends, expansion plans and opportunities, and Hagerty's objectives for future operations. The words "anticipate," "believe," "envision," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," "ongoing," "contemplate," and similar expressions, and the negatives of these expressions, are intended to identify forward-looking statements.

Hagerty has based these forward-looking statements largely on current expectations about future events, which may not materialize. Actual results could differ materially and adversely from those anticipated or implied in forward-looking statements. These factors include, among other things, Hagerty's ability to: (i) compete effectively within Hagerty's industry and attract and retain insurance policyholders and paid Hagerty Drivers Club ("HDC") subscribers; (ii) maintain key strategic relationships with Hagerty's insurance distribution and underwriting carrier partners; (iii) prevent, monitor, and detect fraudulent activity; (iv) manage risks associated with disruptions, interruptions, outages, or other issues with Hagerty's technology platforms or use of third-party services; (v) accelerate the adoption of Hagerty's membership and marketplace products and services, as well as any new insurance programs and products offered; (vi) successfully implement the fronting arrangement consummated with Markel and realize the anticipated benefits while also managing the increased exposure to underwriting volatility, catastrophes, reinsurance counterparty risk, and legal, compliance, and regulatory risks resulting from the shift to Hagerty Re assuming 100% of the risk for policies written through this arrangement; (vii) underwrite and price new products, including Enthusiast+, consistent with expected loss ratios and risk tolerances; (viii) execute Broad Arrow's private sale, auction, and financing strategies; (ix) manage the cyclical nature of the insurance business and broader macroeconomic conditions, including inflation, interest rates, and potential recessionary pressures; (x) achieve Hagerty's investment objectives and avoid losses in the investment portfolio; (xi) address unexpected increases in the frequency or severity of claims, including catastrophe losses; and (xii) comply with numerous laws and regulations applicable to Hagerty's business, including without limitation state, federal, and foreign laws relating to insurance and rate increases, privacy and cybersecurity, marketing and advertising, digital services, accounting matters, tax, anti-money laundering, and economic sanctions.

The forward-looking statements in this release represent Hagerty's views as of the date hereof. You should not rely on forward-looking statements as predictions of future events. We operate in a very competitive and rapidly changing environment and new risks emerge from time to time. This presentation should be read in conjunction with the information included in filings with the SEC and press releases. Understanding the information contained in these filings is important in order to fully understand Hagerty's reported financial results and business outlook for future periods. In addition, this presentation contains certain "non-GAAP financial measures". The non-GAAP measures are presented for supplemental informational purposes only. These financial measures are not recognized measures under GAAP and should not be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Reconciliations to the most directly comparable financial measure calculated and presented in accordance with GAAP are provided in the appendix to this presentation.

About Hagerty
Hagerty is a company built by drivers for drivers, protecting 2.9 million vehicles in the United States, Canada and the UK. We make it easier and more enjoyable for car enthusiasts to drive and celebrate the vehicles they love through innovative vehicle insurance products, live and digital auctions, engaging media and events, and the Hagerty Drivers Club, the world's largest membership community of car lovers.

For more information, please visit www.hagerty.com or www.newsroom.hagerty.com. Never Stop Driving®.

Category: Financial
Source: Hagerty

Hagerty, Inc.

Condensed Consolidated Statements of Operations (Unaudited)

Three months ended March 31,

2026

2025

$ Change

% Change

REVENUES:

in thousands (except percentages and per share amounts)

Earned premium, net

$    239,642

$    169,355

$      70,287

41.5 %

Commission and fee revenue

16,435

100,287

(83,852)

(83.6) %

Marketplace revenue

25,652

29,086

(3,434)

(11.8) %

Membership and other revenue

22,127

20,865

1,262

6.0 %

Net investment income

10,263

9,058

1,205

13.3 %

Net investment losses

(2,289)

(315)

(1,974)

N/M

Total revenue

311,830

328,336

(16,506)

(5.0) %

EXPENSES:

Losses and loss adjustment expenses

97,919

71,130

26,789

37.7 %

Policy acquisition costs, net

101,922

77,333

24,589

31.8 %

Underwriting and other insurance expenses

59,588

1,357

58,231

N/M

Selling, general, and administrative expenses

72,416

144,045

(71,629)

(49.7) %

Interest expense and other, net

922

1,689

(767)

(45.4) %

Total expenses

332,767

295,554

37,213

12.6 %

INCOME (LOSS) BEFORE TAXES

(20,937)

32,782

(53,719)

(163.9) %

Income tax (expense) benefit

8,192

(5,489)

13,681

N/M

NET INCOME (LOSS)

(12,745)

27,293

(40,038)

(146.7) %

Net (income) loss attributable to non-controlling interest

8,254

(18,922)

27,176

143.6 %

Accretion of Series A Convertible Preferred Stock

(2,030)

(1,875)

155

8.3 %

NET INCOME (LOSS) ATTRIBUTABLE TO CLASS A COMMON STOCKHOLDERS

$      (6,521)

$        6,496

$     (13,017)

(200.4) %

Earnings (loss) per share of Class A Common Stock:

Basic

$        (0.06)

$         0.07

Diluted

$        (0.06)

$         0.07

Weighted average shares of Class A Common Stock outstanding:

Basic

101,034

90,047

Diluted

101,034

346,311

N/M = Not meaningful

Hagerty, Inc.

Condensed Consolidated Balance Sheets (Unaudited)

March 31,

December 31,

2026

2025

ASSETS

in thousands (except share amounts)

Fixed maturity securities available-for-sale, at fair value (amortized cost: $670,922 in 2026, $687,813 in 2025)

$           673,100

$           696,271

Equity securities, at fair value

47,804

34,871

Total investments

720,904

731,142

Cash and cash equivalents

212,371

160,177

Restricted cash and cash equivalents

154,362

138,823

Accounts receivable

27,993

98,872

Premiums receivable

92,446

180,529

Deferred acquisition costs, net

143,552

179,224

Reinsurance recoverables

11,863

15,296

Prepaid reinsurance premiums

40,405

21,950

Notes receivable

148,944

113,887

Intangible assets, net

89,125

88,915

Goodwill

114,150

114,164

Deferred tax assets

40,092

43,011

Other assets

228,386

207,986

TOTAL ASSETS

$         2,024,593

$         2,093,976

LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS' EQUITY

Accounts payable and accrued expenses

$            85,847

$           111,947

Advance premiums

50,748

28,287

Due to insurers

14,366

94,930

Losses payable and reserves for unpaid losses and loss adjustment expenses

203,987

264,204

Unearned premiums

508,003

412,058

Ceding commissions payable

1,870

86,165

Debt, net

228,608

177,907

Contract liabilities

46,383

46,450

Deferred tax liability

5,697

23,489

Tax receivable agreement liability

38,284

39,829

Other liabilities

106,757

61,684

TOTAL LIABILITIES

1,290,550

1,346,950

Commitments and Contingencies

—

—

TEMPORARY EQUITY

Preferred stock, $0.0001 par value (20,000,000 shares authorized, 8,483,561 Series A Convertible Preferred Stock issued and outstanding as of March 31, 2026 and December 31, 2025) 1

88,648

86,618

STOCKHOLDERS' EQUITY

Class A Common Stock, $0.0001 par value (500,000,000 shares authorized, 101,085,283 and 100,706,893 issued and outstanding as of March 31, 2026 and December 31, 2025, respectively)

10

10

Class V Common Stock, $0.0001 par value (300,000,000 authorized, 241,552,156 shares issued and outstanding as of March 31, 2026 and December 31, 2025)

24

24

Additional paid-in capital

626,166

623,013

Accumulated earnings (deficit)

(407,451)

(402,960)

Accumulated other comprehensive income (loss)

(66)

1,229

Total stockholders' equity

218,683

221,316

Non-controlling interest

426,712

439,092

Total equity

645,395

660,408

TOTAL LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS' EQUITY

$         2,024,593

$         2,093,976

1

The Series A Convertible Preferred Stock is recorded within Temporary Equity because it has equity conversion and cash redemption features.

Hagerty, Inc.

Condensed Consolidated Statements of Cash Flows (Unaudited)

Three months ended March 31,

2026

2025

OPERATING ACTIVITIES:

in thousands

Net income (loss)

$           (12,745)

$            27,293

Adjustments to reconcile net income (loss) to net cash from operating activities:

Loss on disposals of equipment, software, and other assets

213

1,136

Depreciation and amortization

9,706

9,488

Provision for deferred taxes

(13,528)

(939)

Share-based compensation expense

4,617

4,392

Non-cash lease expense

2,108

2,109

Net investment losses

2,289

315

(Accretion) amortization of discount and premium, net

(1,358)

(1,184)

Amortization of gain on loss portfolio transfer

(1,308)

—

Other

575

1,852

Changes in assets and liabilities:

Accounts and premiums receivable

157,636

(42,812)

Deferred acquisition costs, net

35,672

4,196

Reinsurance recoverables

3,433

(7,561)

Prepaid reinsurance premiums

(18,455)

(8,285)

Advance premiums

22,512

19,921

Due to insurers

(80,441)

25,336

Losses payable and reserves for unpaid losses and loss adjustment expenses

(60,217)

(14,958)

Unearned premiums

95,945

(5,377)

Ceding commissions payable

(84,295)

1,926

Other assets and liabilities, net

(46,106)

26,982

Net Cash Provided by Operating Activities

16,253

43,830

INVESTING ACTIVITIES:

Capital expenditures

(7,712)

(5,389)

Issuance of notes receivable

(48,133)

(9,886)

Collection of notes receivable

14,014

1,650

Purchases of fixed maturity securities

(149,982)

(39,150)

Purchases of equity securities

(51,041)

(246)

Proceeds from maturities and sales of fixed maturity securities

167,537

48,526

Proceeds from sales of equity securities

35,405

247

Other investing activities

(13)

(233)

Net Cash Used in Investing Activities

(39,925)

(4,481)

FINANCING ACTIVITIES:

Repayments of debt

(6,159)

(120,880)

Proceeds from debt, net of issuance costs

57,911

160,067

Proceeds from loss portfolio transfer

50,500

—

Claims payments made from loss portfolio transfer

(9,248)

—

Distributions paid to non-controlling interest unit holders

(359)

(24,676)

Funding of TRA Liability payments

(1,545)

(223)

Funding of employee tax obligations upon vesting of share-based payments

(61)

(44)

Net Cash Provided by Financing Activities

91,039

14,244

Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents

366

(130)

Change in cash and cash equivalents and restricted cash and cash equivalents

67,733

53,463

Beginning cash and cash equivalents and restricted cash and cash equivalents

299,000

232,845

Ending cash and cash equivalents and restricted cash and cash equivalents

$           366,733

$           286,308

Key Performance Indicators and Non-GAAP Financial Measures

Key Performance Indicators

The tables below present a summary of our Key Performance Indicators, which include important operational metrics, as well as certain financial measures prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and non-GAAP financial measures. We use these Key Performance Indicators to evaluate our business, measure our performance, identify trends against planned initiatives, prepare financial projections, and make strategic decisions. We believe these Key Performance Indicators are useful in evaluating our performance when read together with our Condensed Consolidated Financial Statements prepared in accordance with GAAP.

Three months ended March 31,

2026

2025

Change

GAAP Financial Measures

dollars in thousands (except per share amounts)

Total Revenue 1

$   311,830

$   328,336

$    (16,506)

(5.0) %

Income (loss) before taxes

$    (20,937)

$     32,782

$    (53,719)

(163.9) %

Net Income (Loss)

$    (12,745)

$     27,293

$    (40,038)

(146.7) %

Basic Earnings (Loss) Per Share

$       (0.06)

$        0.07

$       (0.13)

(185.7) %

Diluted Earnings (Loss) Per Share

$       (0.06)

$        0.07

$       (0.13)

(185.7) %

Non-GAAP Financial Measures

Adjusted EBITDA

$     85,185

$     48,151

$     37,034

76.9 %

Adjusted Net Income (Loss)

$    (13,144)

$     25,352

$    (38,496)

(151.8) %

Adjusted Diluted EPS

$       (0.04)

$        0.07

$       (0.11)

(157.1) %

Insurance Operational Metrics

Total Written Premium

$   288,946

$   244,327

$     44,619

18.3 %

Net Assumed Premium

$   317,346

$   155,651

$   161,695

103.9 %

Hagerty Re Loss Ratio

38.4 %

42.0 %

(3.6) %

N/M

Hagerty Re Combined Ratio

86.5 %

88.5 %

(2.0) %

N/M

New Business Count — Insurance

111,896

55,309

56,587

102.3 %

Marketplace Operational Metrics

Aggregate Auction Sales

$   135,379

$     75,336

$     60,043

79.7 %

Net Auction Sales

$   123,436

$     68,213

$     55,223

81.0 %

Private Sales

$     36,830

$     53,669

$    (16,839)

(31.4) %

BAC Average Loan Portfolio

$   135,270

$     62,784

$     72,486

115.5 %

N/M = Not meaningful

1

Total Revenue for the three months ended March 31, 2025 has been recast to include Net investment income and Net investment losses as components of revenue in accordance with the Article 7 reporting standards adopted in 2025. Total revenue as previously presented in accordance with Article 5 was $320 million for the three months ended March 31, 2025.

March 31,

2026

2025

Change

Insurance Operational Metrics

dollars in thousands

Policies in Force

1,760,400

1,524,927

235,473

15.4 %

Policies in Force Retention

88.5 %

89.0 %

(0.5) %

N/M

Vehicles in Force

2,910,661

2,609,209

301,452

11.6 %

HDC Paid Member Count

940,313

889,390

50,923

5.7 %

Marketplace Operational Metrics

BAC Loan Portfolio Balance

$   142,956

$     73,192

$     69,764

95.3 %

N/M = Not meaningful

Adjusted EBITDA

We define EBITDA as consolidated Net income (loss), excluding Interest expense and other, net, Income tax expense (benefit), and Depreciation and amortization. We define Adjusted EBITDA as EBITDA, further adjusted to (i) exclude net investment gains and losses; (ii) deduct interest expense related to the State Farm Term Loan; (iii) exclude share-based compensation expense; and when applicable, exclude (iv) restructuring, impairment and related charges; (v) gains, losses and impairments related to divestitures; and (vi) certain other unusual items, such as Markel Fronting Arrangement transitional costs during the three months ended March 31, 2026.

How This Measure is Useful

When used in conjunction with GAAP financial measures, Adjusted EBITDA is a supplemental measure of operating performance that we believe is a useful measure to evaluate our performance period over period and relative to our competitors and peers. Management uses Adjusted EBITDA to evaluate our operating performance on a consistent basis, as it removes the impact of items not directly resulting from our core operations. We believe the presentation of Adjusted EBITDA provides securities analysts, investors, and other interested parties with a supplemental view of our operating performance that enhances their understanding of our business and our results of operations, as well as assisting investors in evaluating how well we are executing our strategic initiatives.

Limitations of the Usefulness of This Measure

Adjusted EBITDA may differ from similarly titled measures used by other companies due to different methods of calculation, which could reduce the usefulness of this non-GAAP financial measure when comparing our performance to that of other companies. Presentation of Adjusted EBITDA is not intended to be considered in isolation or a substitute for, or superior to, the financial information prepared in accordance with GAAP. A reconciliation of Adjusted EBITDA to Net income (loss), the most directly comparable GAAP measure, is presented below.

Three months ended March 31,

2026

2025

in thousands

Net income (loss)

$         (12,745)

$           27,293

Interest expense and other, net 1

922

1,689

Income tax expense (benefit)

(8,192)

5,489

Depreciation and amortization

9,706

9,488

EBITDA

(10,309)

43,959

Markel Fronting Arrangement transitional costs 2

88,958

—

Net investment losses

2,289

315

Interest expense related to State Farm Term Loan 3

(515)

(515)

Share-based compensation expense

4,617

4,392

Other unusual items 4

145

—

Adjusted EBITDA

$           85,185

$           48,151

1

Excludes interest expense related to the BAC Credit Facility, which is recorded within "Selling, general, and administrative expenses" in the Condensed Consolidated Statements of Operations.

2

Represents the amortization of deferred ceding commissions paid to Markel for policies written prior to January 1, 2026. These costs relate exclusively to policies written prior to our entry into the Markel Fronting Arrangement and are being fully amortized ratably over the remaining term of those policies through December 31, 2026. We expect the amortization of these deferred ceding commissions to decline from $89.0 million in the first quarter of 2026 to approximately $10.0 million in the fourth quarter of 2026, as the remaining 2025 policy terms run off. Management excludes these costs from Adjusted EBITDA because they are transitional charges related solely to deferred ceding commissions on policies written prior to January 1, 2026, are expected to run off by December 31, 2026, and are not indicative of our ongoing operating performance under the Markel Fronting Arrangement.

3

Interest expense related to the State Farm Term Loan is charged against Adjusted EBITDA as it is directly attributable to the operations of Hagerty Re.

4

For the three months ended March 31, 2026, other unusual items includes additional severance expenses associated with the actions taken in the fourth quarter of 2025.

As a result of our transition to the Article 7 reporting standards, Net investment income is reported as a component of revenue and is no longer an adjustment in our reconciliation from Net income (loss) to Adjusted EBITDA. In addition, interest expense related to the State Farm Term Loan is now deducted from Adjusted EBITDA as it is directly attributable to Hagerty Re, which generates a significant portion of our net investment income. The following table presents a reconciliation of Adjusted EBITDA as presented in the prior period in accordance with Article 5, to the current presentation in accordance with Article 7:

Three months ended
March 31, 2025

in thousands

Prior presentation of Adjusted EBITDA

$                39,608

Net investment income

9,058

Interest expense related to State Farm Term Loan

(515)

Current presentation of Adjusted EBITDA

$                48,151

The following table reconciles Adjusted EBITDA for the year ended December 31, 2026 Outlook to the most directly comparable GAAP measure, which is Net income (loss):

2026 Low

2026 High

in thousands

Net loss 1

$         (51,000)

$         (41,000)

Interest expense and other, net 2

5,000

5,000

Income tax expense

33,000

34,000

Depreciation and amortization

40,000

40,000

Share-based compensation expense

19,000

19,000

Markel Fronting Arrangement transitional costs 1

190,000

190,000

Adjusted EBITDA

$         236,000

$         247,000

1

Represents the amortization of deferred ceding commissions paid to Markel for policies written prior to January 1, 2026. These costs relate exclusively to policies written prior to our entry into the Markel Fronting Arrangement and are being fully amortized ratably over the remaining term of those policies through December 31, 2026. We expect the amortization of these deferred ceding commissions to decline from $89.0 million in the first quarter of 2026 to approximately $10.0 million in the fourth quarter of 2026, as the remaining 2025 policy terms run off. Management excludes these costs from Adjusted EBITDA because they are transitional charges related solely to deferred ceding commissions on policies written prior to January 1, 2026, are expected to run off by December 31, 2026, and are not indicative of our ongoing operating performance under the Markel Fronting Arrangement.

2

Excludes interest expense related to the BAC Credit Facility, which is recorded within "Selling, general, and administrative expenses" in the Condensed Consolidated Statements of Operations.

Adjusted Net Income (Loss) and Adjusted Diluted EPS

Adjusted Net Income (Loss) represents Net income (loss) attributable to Class A Common Stockholders, assuming the full exchange of all outstanding THG units and Series A Convertible Preferred Stock for shares of Class A Common Stock, adjusted to exclude (i) net investment gains and losses; and when applicable, (ii) changes in the TRA Liability; (iii) gains and losses related to divestitures; and (iv) certain other unusual items, each of which we do not believe are directly related to our core operations and may not be indicative of our ongoing performance. Adjusted Diluted EPS is calculated by dividing Adjusted Net Income (Loss) by the weighted average shares of Class A Common Stock outstanding, assuming the full exchange of all outstanding THG units, Series A Convertible Preferred Stock, and unvested share-based compensation awards.

How These Measures Are Useful

When used in conjunction with GAAP financial measures, Adjusted Net Income (Loss) and Adjusted Diluted EPS are supplemental measures of operating performance that we believe are useful measures to evaluate our performance period over period and relative to our competitors and peers. Management uses Adjusted Net Income (Loss) and Adjusted Diluted EPS to evaluate our operating performance on a consistent basis to make strategic and operational decisions. We believe these measures provide management and investors with useful information regarding trends in our business that may not otherwise be apparent when relying solely on GAAP measures. By assuming the full exchange of all outstanding THG units and Series A Convertible Preferred Stock, we believe these measures facilitate comparisons with other companies that have different organizational and tax structures, as well as comparisons period over period because it eliminates the effect of any changes in Net income (loss) attributable to Class A Common Stockholders driven by increases in Hagerty, Inc.'s ownership in THG, which is unrelated to our operating performance, and excludes items that are unusual or may not be indicative of our ongoing performance.

Limitations of the Usefulness of These Measures

Adjusted Net Income (Loss) and Adjusted Diluted EPS may differ from similarly titled measures used by other companies due to different methods of calculation. Presentation of Adjusted Net Income (Loss) and Adjusted Diluted EPS should not be considered alternatives to Net income (loss) attributable to Class A Common Stockholders and Diluted EPS, as determined under GAAP. While these measures are useful in evaluating our performance, they assume the full exchange of all outstanding THG units and Series A Convertible Preferred Stock for shares of Class A Common Stock, which has not occurred and may not occur. Further, the adjustments made to arrive at Adjusted Net Income (Loss) exclude certain expenses and income that may recur in the future. Adjusted Net Income (Loss) and Adjusted Diluted EPS should be evaluated in conjunction with our GAAP financial results. A reconciliation of Adjusted Net Income (Loss) to Net income (loss) attributable to Class A Common Stockholders, the most directly comparable GAAP measure, and the computation of Adjusted Diluted EPS are presented below.

Three months ended March 31,

2026

2025

Numerator:

in thousands (except per share amounts)

Net income (loss) attributable to Class A Common Stockholders

$           (6,521)

$            6,496

Adjustments:

Accretion of Series A Convertible Preferred Stock

2,030

1,875

Net income (loss) attributable to non-controlling interest

(8,254)

18,922

Net investment losses

2,289

315

Other unusual items 1

145

—

Tax impact of above adjustments 2

(2,833)

(2,256)

Adjusted Net Income (Loss)

$         (13,144)

$           25,352

Denominator:

Weighted average shares of Class A Common Stock outstanding — Diluted

101,034

346,311

Adjustments:

Assumed exchange of non-controlling interest THG units for shares of Class A Common Stock

245,102

—

Assumed conversion of shares of Series A Convertible Preferred Stock into shares of Class A Common Stock

6,785

6,785

Assumed vesting of share-based compensation awards

8,007

6,881

Adjusted weighted average shares of Class A Common Stock outstanding — Diluted

360,928

359,977

Adjusted Diluted EPS

$             (0.04)

$              0.07

Three months ended March 31,

2026

2025

Diluted EPS

$             (0.06)

$              0.07

Impact of assumed exchange, conversion, or vesting of remaining potentially dilutive securities 3

0.02

0.01

Non-GAAP adjustments 4

—

(0.01)

Adjusted Diluted EPS

$             (0.04)

$              0.07

1

For the three months ended March 31, 2026, other unusual items includes additional severance expenses associated with the actions taken in the fourth quarter of 2025.

2

Represents the tax effect of the aforementioned adjustments to reflect corporate income taxes at an estimated effective tax rate of 29.0% and 23.4% for 2025 and 2025, respectively, which considers the U.S. federal statutory rate of 21%, a combined state income tax rate of approximately 5% (net of federal benefits), and certain material permanent items.

3

Assumes the exchange of all outstanding THG units, Series A Convertible Preferred Stock, and unvested share-based compensation awards for shares of Class A Common Stock, resulting in the elimination of the non-controlling interest and recognition of the Net income (loss) attributable to non-controlling interest, as well as elimination of the accretion of Series A Convertible Preferred Stock.

4

Represents the per share impact of non-GAAP adjustments for each period. Refer to the reconciliation above for additional information.

SOURCE Hagerty

Hagerty, Inc. (HGTY) Q1 2026 Earnings Call Transcript

BICESTER, United Kingdom, May 19, 2026 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, driven by Hagerty (NYSE: HGTY), is celebrating the success of its second annual Concorso d’Eleganza Villa d’Este Auction. As the official auction partner of BMW AG for this prestigious concours event, the sale took place at the stunning and historic Villa Erba from 16-17 May 2026.

The famous rotunda at Villa Erba was full to capacity for this jewel of the international collector car auction calendar, which is as much an elegant social occasion as an opportunity for buyers to indulge their passion for significant classic and modern collector cars. Intense bidding in the room, online and on the telephones created a truly exciting atmosphere, while over 12,000 watched the auctioning of 75 of the world’s most desirable collector cars live on the Broad Arrow YouTube channel. When renowned British auctioneer, Thomas Forrester, dropped the gavel on the final lot, the sales total had reached a fantastic €40.8 million with a sell-through rate of 87 percent.

“We returned for our second year as the official auction partner of the Concorso d'Eleganza Villa d'Este with a spectacularly varied catalogue of 75 collector cars curated to attract the interest of global collectors,” says Joe Twyman, VP of Sales EMEA Region for Broad Arrow Auctions. “And attract them we did, with registered bidders from an impressive 31 different countries and more than 70 percent growth in bidder registration over the 2025 sale. The incredible atmosphere in the auction room also reflected the buoyancy of the market right now and underlined the status of what is undoubtedly one of the greatest concours events in the world, a place where established and new collectors amass to admire and acquire spectacular enthusiast cars of all ages. We look forward to returning to Villa Erba again in 2027 to inspire the collector market even further”.

Italian marques were firm favourites, including Ferrari and Lamborghini, led by a stunning 2023 Ferrari Daytona SP3. A single-owner example displaying only 743 kilometres and finished in Rosso Magma Tri-Coat over a Blu Elettrico Alcantara interior, it sold for €6.250.000. A rare ‘non-cat, non-adjust’ 1990 Ferrari F40 achieved a price of €2.931.250, while one of the most exciting and intense bidding battles of the auction saw a beautiful 1968 Ferrari 330 GTS find a new home after selling for €1.918.750.

Lamborghini models that sparked a great deal of interest among collectors and enthusiasts included a 2022 Countach LPI 800-4 that sold for €1.581.250, a six-speed manual 2009 Murcielago LP640-4 Coupé which achieved €805.000 and a true icon of supercar history, a 1990 Countach 25th Anniversario that sold for €523.750.

An impressive selection of Japanese collector cars included the Ultimate R34 Skyline GT-R Collection, consisting of five remarkable examples of the fast and furious icon, which together reached a price of €1.517.000. These iconic machines shared the spotlight with a seldom-seen NSX Type S that achieved €207.000.

Other highlights included a 2015 Porsche 918 Spyder Weissach Package that sold for €2.256.250, a stalwart of the international collector-car market in a 1957 Mercedes-Benz 300 SL Gullwing Coupé that found a new home at €1.637.500 and a 1968 Bizzarrini 5300 GT Strada that achieved €820.000 immediately following the sale.

The auction also featured some extremely unique Italian models, fitting for the venue, including a characterful 1963 Fiat 600 Torpedo Marina by Vignale which could well be heading to a beach house after selling for €281.750 and a 1977 Fiat Bertone 850 T Visitors Bus, which created one of the most exhilarating bidding battles of the auction, and the most appreciation from those in the rotunda, selling well over its upper estimate at €189.750.

“It was a delight to welcome the international collector car community to our Concorso d’Eleganza Villa d’Este auction,” says Karsten Le Blanc, SVP, Head of EMEA Region and Broad Arrow Capital for Broad Arrow. “Their passion and enthusiasm for our offered lots created a truly exciting event that was a tremendous success. Our team curated a remarkable catalogue of classic and contemporary models, delivering an auction that was truly in keeping with the status and style of the prestigious Concorso d’Eleganza Villa d’Este.”

Top Ten Sales – Broad Arrow Concorso d’Eleganza Villa d’Este Auction

Lot 253 | 2023 Ferrari Daytona SP3 - €6.250.000Lot 254 | 2020 Ferrari Monza SP2 - SOLD BEFORE AUCTIONLot 126 | 1990 Ferrari F40 - €2.931.250Lot 211 | 2015 Porsche 918 Spyder Weissach Package - €2.256.250Lot 230 | 1968 Ferrari 330 GTS - €1.918.750Lot 124 | 1957 Mercedes-Benz 300 SL Gullwing Coupé - €1.637.500Lot 239 | 2022 Lamborghini Countach LPI 800-4 - €1.581.250Lot 120 | 2023 Ferrari 812 Competizione - €1.412.500Lot 243 | 1929 Bugatti Type 43 Roadster by Eugène Matthys - €1.007.500Lot 114 | 1956 Ferrari 250 GT Boano Alloy Coupé - €911.875 Attention now moves to Broad Arrow’s debut as the official auction partner of The Quail, A Motorsports Gathering, with The Quail Auction from 13-14 August 2026. Collectors are also invited to discuss consignments for other Broad Arrow auctions taking place in Europe in 2026, including the Zoute Concours Auction on 9 October and Zürich Auction on 7 November.

Complete results from The Concorso d’Eleganza Villa d’Este Auction are available at broadarrowauctions.com.

Ends.

For media enquiries relating to Broad Arrow Auctions, please contact a member of the press team.

Editor’s Notes

About Broad Arrow Auctions

Broad Arrow Auctions, driven by Hagerty (NYSE: HGTY), is a leading global collector car auction house founded in 2021 by industry veterans. As the fastest-growing auction house in its segment, Broad Arrow connects exceptional collector cars with enthusiasts worldwide through flagship events including The Broad Arrow Quail Auction (the official auction of The Quail, A Motorsports Gathering), The Amelia Concours Auction (the official auction of The Amelia Concours), The Porsche Auction in collaboration with Air | Water by Luftgekühlt, the Las Vegas Auction in partnership with Concours at Wynn Las Vegas, as well as international auctions held in partnership with Concorso d’Eleganza Villa d’Este, Zoute Grand Prix, and Auto Zürich. Learn more at broadarrowauctions.com and follow us on Instagram, Facebook, LinkedIn, and X. 

About Hagerty, Inc. (NYSE: HGTY)

Hagerty is a company built by drivers for drivers, protecting 2.7 million vehicles in the United States, Canada and the UK. We make it easier and more enjoyable for enthusiasts to drive and celebrate the machines they love through innovative insurance products, live and digital auctions, engaging media and events, as well as the Hagerty Drivers Club, the world’s largest community of car lovers.  

For more information, please visit www.hagerty.com or www.newsroom.hagerty.com.    

Forward-Looking Statements - This press release contains statements that constitute “forward-looking statements” within the meaning of the federal securities laws. All statements provided, other than statements of historical fact, are forward-looking statements, including those regarding Hagerty’s future operating results and financial position, Hagerty’s business strategy and plans, products, services, and technology implementations, market conditions, growth and trends, expansion plans and opportunities, and Hagerty’s objectives for future operations. The words “anticipate,” “believe,” “envision,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “ongoing,” “contemplate,” and similar expressions, and the negative of these expressions, are intended to identify forward-looking statements. 

Hagerty has based these forward-looking statements largely on current expectations about future events, which may not materialize. Actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. These factors include, among other things, Hagerty’s ability to: (i) compete effectively within our industry and attract and retain our insurance policyholders and paid Hagerty Drivers Club (“HDC”) subscribers; (ii) maintain key strategic relationships with our insurance distribution and underwriting carrier partners; (iii) prevent, monitor, and detect fraudulent activity; (iv) manage risks associated with disruptions, interruptions, outages or other issues with our technology platforms or our use of third-party services; (v) accelerate the adoption of our membership and marketplace products and services, as well as any new insurance programs and products we offer; (vi) manage the cyclical nature of the insurance business, including through any periods of recession, economic downturn or inflation; (vii) address unexpected increases in the frequency or severity of claims, and (viii) comply with the numerous laws and regulations applicable to our business, including state, federal and foreign laws relating to insurance and rate increases, privacy, the internet, and accounting matters.

The forward-looking statements herein represent the judgment of Hagerty as of the date of this release and Hagerty disclaims any intent or obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise. This press release should be read in conjunction with the information included in Hagerty’s other press releases, reports and other filings with the Securities and Exchange Commission. Understanding the information contained in these filings is important in order to fully understand Hagerty’s reported financial results and its business outlook for future periods.

The packed sale room at Broad Arrow's 2026 Concorso d'Eleganza Villa d'Este Auction The top selling 2023 Ferrari Daytona SP3 at Broad Arrow's 2026 Concorso d'Eleganza Villa d'Este Auction

The packed sale room at Broad Arrow's 2026 Concorso d'Eleganza Villa d'Este Auction Courtesy of Broad Arrow Auctions The top selling 2023 Ferrari Daytona SP3 at Broad Arrow's 2026 Concorso d'Eleganza Villa d'Este Auct... Courtesy of Broad Arrow Auctions