Published on 7 Oct 2024 on GuruFocus.com · via Yahoo Finance
Heritage Insurance Holdings Inc (HRTG) Q2 2024 Earnings Call Highlights: Strong...
Net Income: $18.9 million, up from $7.8 million in the prior year quarter.Earnings Per Share (EPS): $0.61 per diluted share, compared to $0.3 per diluted share in the prior year quarter.Total Revenue: $203.6 million, an increase of 9.9% from $185.3 million in the prior year quarter.Gross Premiums Earned: $350 million, up 6.1% from $330 million in the prior year quarter.Net Premiums Earned: $190.3 million, up 7.6% from $176.8 million in the prior year quarter.Net Investment Income: $9.8 million, an increase of $3.2 million from $6.6 million in the prior year quarter.Net Loss Ratio: Improved to 55.7%, down from 60.3% in the prior year quarter.Net Weather Losses: $19.7 million, a decrease from $33.8 million in the prior year quarter.Net Expense Ratio: Increased to 36.8%, up from 34.8% in the prior year quarter.Net Combined Ratio: Improved to 92.5%, down from 95.1% in the prior year quarter.Book Value Per Share: $8.32, up 32.7% from $6.27 in the prior year quarter.Return on Equity: 30.8%, an improvement from 19.7% in the prior year quarter.