Heritage Insurance Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 08, 2023 at 04:07 pm EDT
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Heritage Insurance Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 185.31 million compared to USD 163.77 million a year ago. Net income was USD 7.78 million compared to net loss of USD 87.87 million a year ago. Basic earnings per share from continuing operations was USD 0.3 compared to basic loss per share from continuing operations of USD 3.32 a year ago. Diluted earnings per share from continuing operations was USD 0.3 compared to diluted loss per share from continuing operations of USD 3.32 a year ago.
For the six months, revenue was USD 362.23 million compared to USD 322.38 million a year ago. Net income was USD 21.79 million compared to net loss of USD 118.63 million a year ago. Basic earnings per share from continuing operations was USD 0.85 compared to basic loss per share from continuing operations of USD 4.46 a year ago. Diluted earnings per share from continuing operations was USD 0.85 compared to diluted loss per share from continuing operations of USD 4.46 a year ago.
Heritage Insurance Holdings, Inc. is a property and casualty insurance holding company. The Company primarily provides personal and commercial residential insurance through its insurance company subsidiaries. It is vertically integrated and controls or manages substantially all aspects of insurance underwriting, customer service, actuarial analysis, distribution and claims processing and adjusting. Its subsidiaries include Heritage Property & Casualty Insurance Company (Heritage P&C), which provides personal and commercial residential property insurance and commercial general liability insurance; Narragansett Bay Insurance Company (NBIC), which provides personal and commercial residential property insurance, and Zephyr Insurance Company (Zephyr), which provides personal residential and wind-only property insurance in Hawaii. The Company provides personal residential insurance in approximately 14 eastern and gulf states and commercial residential insurance in three of those states.
HERITAGE INSURANCE HOLDINGS, INC. 
