earnings
confidence high
sentiment negative
materiality 0.70
Heritage Insurance Q3 net loss $16.4M ($0.59/share); combined ratio 112.5%
Heritage Insurance Holdings, Inc.
2021-Q3 EPS reported
-$0.91
revenue$464,849,000
- Net loss of $16.4M vs $5.2M loss in prior-year quarter; diluted EPS -$0.59 vs -$0.19.
- Book value per share $14.57, down 4.1% from Q2 2021 and 8.8% year-over-year.
- Gross premiums written $274.2M, down 1.5% due to planned Florida exposure reduction; premiums-in-force up 13.3% YoY.
- Combined ratio improved to 112.5% from 122.7% but still reflects underwriting loss; net weather losses $51.4M.
- Quarterly dividend $0.06/share declared (payable Jan 6, 2022); repurchased 148K shares for $1.0M.