Heritage Insurance posts Q3 net loss of $48.2M; suspends dividend after Hurricane Ian

Heritage Insurance Holdings, Inc.

2022-Q3 EPS reported -$6.29 revenue$487,872,000

Net loss of $48.2M ($1.83 diluted EPS) vs net loss of $16.4M ($0.59) in prior-year quarter.
Gross premiums written rose 11.1% to $304.5M; net earned premiums fell 1.7% to $159.7M.
Net combined ratio worsened to 133.3% from 112.5%, driven by $40M in catastrophe losses from Hurricane Ian.
Board temporarily suspends quarterly dividend; will reevaluate quarterly.
Repurchased 632,744 shares for $1.7M in the quarter.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Heritage Insurance Holdings, Inc. reported third quarter of 2022 results: net income net loss of $48.2 million or $1.83 per diluted share.

Period: third quarter of 2022
Net income: net loss of $48.2 million or $1.83 per diluted share
Result: reported results

Exact text from the filing

Heritage Insurance Holdings, Inc. (the “Company”) issued a press release announcing financial results for its fiscal quarter ended September 30, 2022.

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Source: SEC EDGAR

accession 0001193125-22-280319

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