HCI Group Q3 2024 net income falls to $5.7M; diluted EPS $0.52 vs $1.34 YoY

HCI Group, Inc.

2024-Q3 EPS reported $8.59 revenue$588,176,000

Q3 2024 net income after noncontrolling interests of $5.7M, down from $13.2M in Q3 2023.
Diluted EPS of $0.52 (GAAP) and $0.47 (adjusted), compared to $1.34 and $1.41 respectively.
Gross premiums earned rose to $265.5M from $188.3M, driven by Florida growth.
Hurricanes Helene ($40.0M) and Debby ($6.5M) were included in $105.7M losses & LAE.
In October 2024, assumed approximately 42,000 policies from Citizens Property Insurance.

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