Heritage Q1 net income $30.5M ($0.99/sh), combined ratio improves to 84.5% despite wildfire losses

Heritage Insurance Holdings, Inc.

2025-Q1 EPS reported $0.99 revenue$211,520,000

Net income $30.5M ($0.99/diluted) vs $14.2M ($0.47) YoY; revenue $211.5M up 10.6%.
Net combined ratio improved 9.5 pts to 84.5%; net loss ratio 49.7% down 7.2 pts.
Gross premiums earned $353.8M (+3.6%); net premiums earned $200.0M (+11.5%).
Includes $31.8M pre-tax California wildfire losses; still generated underwriting profit.
Book value per share $10.62 (+38.5% YoY); ROE 39.3%; dividend suspension continues to fund growth.

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