Heritage Insurance Q4 net income $12.5M vs loss; premiums up 15.5%

Heritage Insurance Holdings, Inc.

Q4 net income of $12.5M ($0.48 diluted EPS) vs net loss of $49.2M ($1.79 loss) in prior year.
Non-GAAP adjusted net income $12.5M ($0.48 per share), up from $11.3M ($0.41) in prior year.
Gross premiums written $322.1M, up 15.5% YoY; net combined ratio 96.1% (up 2.9 points).
Repurchased 341,075 shares at avg $1.78 for ~$625K under stock repurchase program.
Florida Senate Bill 2A passed; CEO cautiously optimistic on market stabilization.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Heritage Insurance Holdings, Inc. reported fourth quarter of 2022 results: net income $12.5 million, EPS $0.48 per diluted share.

Period: fourth quarter of 2022
Net income: $12.5 million
EPS: $0.48 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 and year ended December 31, 2022.

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Source: SEC EDGAR

accession 0001193125-23-058565

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