Compared to Estimates, Heritage Insurance (HRTG) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Heritage Insurance (HRTG) reported revenue of $186.3 million, up 12.6% over the same period last year. EPS came in at -$0.28, compared to -$1.83 in the year-ago quarter.
The reported revenue represents a surprise of +5.79% over the Zacks Consensus Estimate of $176.11 million. With the consensus EPS estimate being -$0.29, the EPS surprise was +3.45%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 47.6% versus the two-analyst average estimate of 50.5%.
Combined Ratio: 110.8% compared to the 110.4% average estimate based on two analysts.
Expense Ratio: 36.4% versus 35.7% estimated by two analysts on average.
Revenues- Net investment income: $6.87 million compared to the $6.32 million average estimate based on two analysts. The reported number represents a change of +137.9% year over year.
Revenues- Net premiums earned: $176.64 million versus the two-analyst average estimate of $166.24 million. The reported number represents a year-over-year change of +10.6%.
Revenues- Other revenue: $3.17 million versus the two-analyst average estimate of $3.55 million. The reported number represents a year-over-year change of +8.7%.
View all Key Company Metrics for Heritage Insurance here>>>
Shares of Heritage Insurance have returned -1.6% over the past month versus the Zacks S&P 500 composite's -1.1% 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
