earnings
confidence high
sentiment negative
materiality 0.75
Heritage Q1 net loss $30.8M ($1.15/sh) on higher weather losses; combined ratio 129.5%
Heritage Insurance Holdings, Inc.
2022-Q1 EPS reported
-$1.15
revenue$158,608,000
- Net loss $30.8M vs $5.1M prior year; diluted EPS loss $1.15 vs $0.19.
- Net combined ratio 129.5% vs 107.7%; net loss ratio 91.6% vs 68.9%.
- Current accident year weather losses $63.8M, up from $31.4M; catastrophe losses $45.0M.
- Dividend $0.06/sh declared, payable July 5, 2022; shares repurchased 721,118 for $5.0M.
- Book value per share $10.65, down 16.9% from Q4 2021; 74% TIV outside Florida.