Compared to Estimates, Heritage Insurance (HRTG) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2023, Heritage Insurance (HRTG) reported revenue of $185.31 million, up 13.2% over the same period last year. EPS came in at $0.32, compared to $0.11 in the year-ago quarter.
The reported revenue represents a surprise of +9.96% over the Zacks Consensus Estimate of $168.53 million. With the consensus EPS estimate being $0.05, the EPS surprise was +540.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Heritage Insurance performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Ceded Premium Ratio: 46.4% versus 51.5% estimated by two analysts on average.
Combined Ratio: 95.1% compared to the 102.85% average estimate based on two analysts.
Expense Ratio: 34.8% versus the two-analyst average estimate of 37.7%.
Revenues- Net investment income: $6.60 million versus the two-analyst average estimate of $5.73 million. The reported number represents a year-over-year change of +205.1%.
Revenues- Net premiums earned: $176.80 million compared to the $159.33 million average estimate based on two analysts. The reported number represents a change of +11.7% year over year.
Revenues- Other revenue: $3.48 million versus the two-analyst average estimate of $3.48 million. The reported number represents a year-over-year change of +1.2%.
View all Key Company Metrics for Heritage Insurance here>>>
Shares of Heritage Insurance have returned +9.2% over the past month versus the Zacks S&P 500 composite's +2.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Heritage Insurance Holdings, Inc. (HRTG) : Free Stock Analysis Report
