Heritage Insurance Holdings (HRTG)
NYSE:HRTG
Earnings Data
Report Date
May 06, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.48Last Year’s EPS
0.99Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong execution and materially improved profitability — large year-over-year increases in net income, a much stronger combined ratio, substantial growth in tangible book value, a high ROE, and robust surplus and capital positioning. Management highlighted disciplined underwriting, rate adequacy in over 90% of geographies, a meaningful increase in new business production, and expectations for improved reinsurance pricing. Headwinds noted include modestly lower in-force premiums (0.1% decline), competitive pressure in commercial residential (notably Florida), wildfire-related losses ($31.8M pretax) and some reserve strengthening for lingering CAT claims, as well as the planned reduction of a quota share program that may raise acquisition costs. On balance, the positive operational and financial improvements overwhelmingly outweigh the manageable challenges cited.Company Guidance
Full Year Net Income Surge
Net income for full year 2025 of $195,600,000, or $6.32 per share, versus $61,500,000, or $2.01 per share in 2024 — an increase of approximately 218% year-over-year, demonstrating material earnings improvement.
Strong Q4 Earnings Performance
Fourth quarter net income of $66,700,000, or $2.15 per diluted share, compared with $20,300,000, or $0.66 per diluted share in the prior-year quarter — roughly a 229% increase driven by higher net premiums earned, higher net investment income, lower losses/LAE, and lower policy acquisition costs.
Large Tangible Book Value and ROE Gains
Tangible book value per share increased 72.5% to $16.39 at 12/31/2025 (from $9.50 at 12/31/2024). Return on equity (ROE) was 49% for the year ending 12/31/2025, reflecting strong capital returns.
Improved Profitability Metrics and Combined Ratio
Fourth-quarter net loss ratio improved to 31.3% from 54.7% a year earlier (improvement of 23.4 percentage points). Net expense ratio improved to 30.7% from 35.0% (improvement of 4.3 points). Net combined ratio improved to 62.0% from 89.7% (improvement of 27.7 points).
New Business Growth
New business premium production increased over 60% in the fourth quarter versus the prior-year quarter, and management expects revenue growth to accelerate through 2026 as new business ramps.
Rate Adequacy and Geographic Reopening
Management reports rate adequacy achieved in more than 90% of operating geographies, enabling those areas to be open for new business and supporting selective, disciplined growth.
Investment Income and Portfolio Positioning
Fourth-quarter net investment income rose to $9.8 million, up 15.9% from $8.5 million year-over-year, aided by higher invested asset balances and extending duration (average duration 3.2 years) to capture better yields while maintaining high credit quality.
Capital Position and Surplus Growth
Total assets of $2.2 billion and shareholders' equity of $505.3 million at quarter end. Combined statutory surplus of insurance affiliates was $392.6 million, up $106.9 million from year-end 2024, providing additional growth capacity.
Prudent Capital Allocation and Share Repurchases
Company repurchased 106,135 shares in 2025 at a cost of $2.3 million and 112,858 shares in early 2026 for $3.0 million. Board established a new $25 million share repurchase authorization through 12/31/2026.
Reinsurance and Market Dynamics Favorable
Maintained stable indemnity-based reinsurance program with strong counterparties; management expects incremental capacity at June 1 renewal and anticipates improved reinsurance pricing in 2026 due to reduced litigation and greater ILS/traditional capacity.
Strategic Initiatives and Growth Plans
Disciplined underwriting, selective capital deployment, expanded data-driven analytics and AI integration, and planned entry into Texas on an E&S basis to extend diversification and measured growth.
HRTG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
HRTG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 23, 2026 | $24.10 | $23.46 | -2.66% |
Nov 05, 2025 | $24.76 | $27.85 | +12.48% |
Aug 05, 2025 | $21.66 | $19.02 | -12.19% |
May 06, 2025 | $19.83 | $24.30 | +22.54% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Heritage Insurance Holdings (HRTG) report earnings?
Heritage Insurance Holdings (HRTG) is schdueled to report earning on May 06, 2026, After Close (Confirmed).
What is Heritage Insurance Holdings (HRTG) earnings time?
Heritage Insurance Holdings (HRTG) earnings time is at May 06, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is HRTG EPS forecast?
HRTG EPS forecast for the fiscal quarter 2026 (Q1) is 1.48.