American Coastal Insurance Q2 net income $18.2M; combined ratio 67.7%; core EPS $0.65 vs $0.20 YoY

AMERICAN COASTAL INSURANCE Corp

2023-Q2 EPS reported $6.52 revenue$160,617,000

Net income from continuing operations $22.6M ($0.52 diluted EPS) vs $5.8M ($0.14) YoY; consolidated net income $18.2M vs loss of $69.0M.
Core income $28.4M ($0.65 per share) increased 236% from $8.5M YoY; underlying combined ratio improved to 66.0% from 86.2%.
Gross premiums written up 17.5% to $243.9M; net premiums earned up 28.9% to $83.2M driven by commercial lines rate adequacy.
Book value per share rose to $2.45 from $1.93 quarter-over-quarter; total equity $106.5M.
Company changed name to American Coastal Insurance Corp.; new Nasdaq ticker ACIC effective August 15, 2023.

item 2.02 item 7.01 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AMERICAN COASTAL INSURANCE Corp reported financial results for the second quarter ended June 30, 2023.

Period: the second quarter ended June 30, 2023
Result: reported results

Exact text from the filing

FOR IMMEDIATE RELEASE AMERICAN COASTAL INSURANCE CORPORATION REPORTS FINANCIAL RESULTS FOR ITS SECOND QUARTER ENDED JUNE 30, 2023

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3 earnings releases filed in the last 30 days. Browse all earnings releases →

AMERICAN COASTAL INSURANCE Corp filing history →

Source: SEC EDGAR

accession 0001401521-23-000099

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