Hagerty, Inc. (HGTY) Q1 2023 Earnings Conference Call May 9, 2023 10:00 AM ET

Corporate Participants

Jay Koval - Senior Vice President, Investor Relations

McKeel Hagerty - Chief Executive Officer

Patrick McClymont - Chief Financial Officer

Conference Call Participants

Mark Hughes - Truist

Sid Schultz - Raymond James

Pablo Singzon - JPMorgan

Operator

Greetings, and welcome to the Hagerty First Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Jay Koval. Please go ahead.

Jason Koval

Thank you, operator, and good morning, everyone. Thank you for joining us to discuss Hagerty's results for the first quarter of 2023. I'm joined this morning by McKeel Hagerty, Chief Executive Officer; and Patrick McClymont, Chief Financial Officer.

During this morning's conference call, we will refer to an accompanying presentation that is available on Hagerty's Investor Relations section of the company's corporate website at investor.hagerty.com. Our earnings release, accompanying slides and letter to stockholders covering this period are also posted on the IR website. Our 8-K filing is also available there, along with our earnings press release and other materials.

Today's discussion contains forward-looking statements and non-GAAP financial metrics as described further on Slide 2 of the earnings presentation. Forward-looking statements, including statements about our expected future business and financial performance, are not promises or guarantees of future performance. They are subject to a variety of risks and uncertainties that could cause the actual results to differ materially from our expectations. For a discussion of material risks and important factors that could affect our actual results, please refer to those contained in our filings with the SEC which are also available on our Investor Relations website and at sec.gov. The appendix of the presentation also contains reconciliations of our non-GAAP metrics to the most directly comparable GAAP measures that are further supplemented by this morning's 8-K filing.

And with that, I'll turn the call over to McKeel, our Founder and CEO.

McKeel Hagerty

Thanks, Jay, and good morning, everyone. We appreciate you taking the time to join our first quarter 2023 earnings call.

Over the last 6 months, we have been working diligently to reengineer our business processes with the goal of delivering high rates of bottom-line growth, fueled by the combination of sustained top-line momentum and significantly improved margins. Patrick will cover the steps we have taken in more detail, but I couldn't be prouder of the Hagerty team and what we have accomplished over the first three months of 2023.