Heritage Insurance Holdings Full Year 2022 Earnings: Revenues Beat Expectations, EPS Lags

Heritage Insurance Holdings (NYSE:HRTG) Full Year 2022 Results

Key Financial Results

• Revenue: US$662.5m (up 4.9% from FY 2021).
• Net loss: US$154.4m (loss widened by 107% from FY 2021).
• US$5.86 loss per share (further deteriorated from US$2.69 loss in FY 2021).

HRTG Profitability Indicators

• Combined ratio: 114.3% (up from 104.6% in FY 2021).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Heritage Insurance Holdings Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 13%.

Looking ahead, revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Insurance industry in the US.

Performance of the American Insurance industry.

The company's shares are down 11% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Heritage Insurance Holdings that you should be aware of.

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