American Coastal Insurance Corporation reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 58.71 million compared to USD 72.75 million a year ago. Net income was USD 10.57 million compared to net loss of USD 70.88 million a year ago. Basic earnings per share from continuing operations was USD 0.33 compared to basic loss per share from continuing operations of USD 0.64 a year ago. Diluted earnings per share from continuing operations was USD 0.33 compared to diluted loss per share from continuing operations of USD 0.64 a year ago. Basic earnings per share was USD 0.24 compared to basic loss per share of USD 1.65 a year ago. Diluted earnings per share was USD 0.24 compared to diluted loss per share of USD 1.65 a year ago.
For the nine months, revenue was USD 228.33 million compared to USD 195.09 million a year ago. Net income was USD 295.63 million compared to net loss of USD 173.09 million a year ago. Basic earnings per share from continuing operations was USD 1.51 compared to basic loss per share from continuing operations of USD 0.95 a year ago. Diluted earnings per share from continuing operations was USD 1.48 compared to diluted loss per share from continuing operations of USD 0.95 a year ago. Basic earnings per share was USD 6.84 compared to basic loss per share of USD 4.02 a year ago. Diluted earnings per share was USD 6.73 compared to diluted loss per share of USD 4.02 a year ago.