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Heritage Insurance Holdings (HRTG)
:HRTG
Earnings Data
Report Date
Aug 12, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
0.98Last Year’s EPS
0.61Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Date:May 06, 2025
|% Change Since: 18.10%
|Next Earnings Date:Aug 12, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a strong financial performance with significant net income growth and improved loss ratios, despite facing challenges such as increased catastrophe losses from California wildfires. The expansion of production capacity and positive legislative impacts in Florida are promising for future growth. However, the increased catastrophe losses and a decline in policy count pose challenges. Overall, the highlights significantly outweigh the lowlights.Company Guidance
In the first quarter of 2025, Heritage Insurance Holdings achieved a net income of $30.5 million, or $0.99 per diluted share, despite facing $31.8 million in net pre-tax losses due to California wildfires. This compares favorably to the previous year's first quarter net income of $14.2 million, or $0.47 per diluted share. The company's gross premiums earned increased by 3.6% to $353.8 million, while net premiums earned rose by 11.5% to $200 million. The loss ratio improved by 7.2 points to 49.7%, and the net combined ratio decreased by 9.5 points to 84.5%. Heritage successfully managed its exposure with a strategic focus on rate adequacy, resulting in a return on average equity of 39%. The company expects to grow its premiums in force in the latter half of 2025, aiming for continued profitable growth while maintaining underwriting discipline. Heritage is also expanding its production capacity, with 75% open by the end of April 2025, and plans to fully open by the year's end. Looking ahead, legislative changes in Florida are expected to positively impact pricing and reinsurance costs, potentially reducing reinsurance pricing in 2026.Strong Net Income Growth
Net income of $30.5 million, or $0.99 per diluted share, up from $14.2 million, or $0.47 per diluted share in the prior year, demonstrating strong financial performance despite catastrophe losses.
Improved Loss Ratio
Loss ratio improved by 7.2 points to 49.7% from 56.9% in the prior year quarter, indicating effective risk management and underwriting discipline.
Expansion of Production Capacity
Production capacity for new business increased from 30% to 75% by the end of April 2025, with plans to fully open by the end of the year, positioning the company for future growth.
Legislative Impacts in Florida
Positive legislative changes in Florida have reduced frivolous lawsuits, potentially improving the insurance market and reducing reinsurance pricing in 2026.
Reinsurance Program Stability
Maintained a stable indemnity-based reinsurance program with increased limit by $285 million, while costs rose by less than $8 million, showcasing effective cost management.
Book Value Per Share Increase
Book value per share increased to $10.62, up 11.8% from the fourth quarter of 2024, and up 38.5% from the first quarter of 2024, indicating strong shareholder value 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 |
|---|---|---|---|
May 06, 2025 | $19.83 | $24.30 | +22.54% |
Mar 11, 2025 | $11.88 | $12.00 | +1.01% |
Nov 06, 2024 | $11.29 | $11.60 | +2.75% |
Aug 06, 2024 | $7.25 | $7.40 | +2.07% |
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 Aug 12, 2025, TBA Not Confirmed.
What is Heritage Insurance Holdings (HRTG) earnings time?
Heritage Insurance Holdings (HRTG) earnings time is at Aug 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HRTG EPS forecast?
HRTG EPS forecast for the fiscal quarter 2025 (Q2) is 0.98.