NYSE$HRTG
Heritage Insurance Holdings · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Reported a net loss due to a non-cash goodwill impairment charge, but adjusted net income increased driven by an improved combined ratio.
Heritage Insurance Holdings reported a net loss of $87.9 million for Q2 2022, primarily due to a $90.8 million non-cash goodwill impairment charge. However, adjusted net income improved to $2.9 million, driven by an improved net combined ratio of 99.4%. The company's exposure management efforts resulted in a reduction of policies in Florida and increased diversification outside of Florida.
- Net loss of $87.9 million, or $3.32 per diluted share, due to a $90.8 million non-cash goodwill impairment charge.
- Adjusted net income of $2.9 million, or $0.11 per diluted share, driven by an improvement in the net combined ratio to 99.4%.
- Net loss ratio decreased by 4.7 points to 64.1%, driven by higher net earned premium.
- Premiums-in-force increased by 3.4% year-over-year to $1.2 billion, driven by higher average premium per policy.
Headline financials
Revenue & EPS history
Heritage Insurance · Revenue · Quarterly
$164M
Forward guidance
Heritage is cautiously optimistic about the impact of Florida legislative actions on its results and the claims environment but believes more legislative action is needed.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2022
+3.3%
Avg return
Earnings day
+7.4%
Avg return
5 days after
+9.5%
Avg return
30 days after
66%
35 / 53 earnings
Positive
+37.8%
Q2 2022
Best reaction
-21.9%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -20.0% | -21.6% | -21.0% | |
| Q4 2025 | -0.1% | +5.0% | -1.0% | |
| Q3 2025 | +12.7% | +19.3% | +8.0% | |
| Q1 2025 | +23.1% | +27.0% | +26.3% | |
| Q4 2024 | +1.0% | +7.7% | +36.6% | |
| Q3 2024 | +6.6% | +13.4% | +11.2% | |
| Q2 2024 | +2.1% | +42.5% | +124.4% | |
| Q1 2024 | -21.9% | -19.5% | -16.7% | |
| Q4 2023 | +28.2% | +17.6% | +41.8% | |
| Q3 2023 | +13.5% | +24.5% | +43.9% | |
| Q2 2023 | +8.0% | +16.2% | -0.2% | |
| Q1 2023 | +10.6% | +34.4% | +41.2% | |
| Q4 2022 | +36.8% | +43.2% | +15.8% | |
| Q3 2022 | -20.0% | -15.4% | -8.0% | |
| Q2 2022 | +37.8% | +24.4% | +6.7% | |
| Q1 2022 | -9.5% | -22.1% | -11.2% | |
| Q4 2021 | +16.9% | +14.7% | +17.5% | |
| Q3 2021 | -3.7% | -6.5% | -5.6% | |
| Q2 2021 | +3.4% | +6.9% | -4.7% | |
| Q1 2021 | -4.4% | +0.3% | -7.9% | |
| Q4 2020 | +1.7% | +10.4% | +9.6% | |
| Q3 2020 | +3.1% | -4.0% | +9.0% | |
| Q2 2020 | +7.2% | +14.2% | +10.0% | |
| Q1 2020 | +3.4% | +11.0% | +19.2% | |
| Q4 2019 | -6.0% | -1.1% | -15.2% | |
| Q3 2019 | +12.0% | +5.8% | -0.2% | |
| Q2 2019 | +3.5% | +2.5% | -2.5% | |
| Q1 2019 | +4.2% | +9.7% | +15.1% | |
| Q4 2018 | +1.3% | -7.6% | -3.0% | |
| Q3 2018 | +6.7% | +13.8% | +13.9% | |
| Q2 2018 | -9.6% | -9.7% | -11.8% | |
| Q1 2018 | +5.9% | +12.2% | +10.7% | |
| Q4 2017 | +2.9% | +2.1% | -6.3% | |
| Q3 2017 | +2.6% | +5.2% | +12.2% | |
| Q2 2017 | +6.1% | -8.1% | -24.4% | |
| Q1 2017 | +7.9% | +3.5% | +7.3% | |
| Q4 2016 | -8.9% | -12.0% | -19.4% | |
| Q3 2016 | +11.6% | +19.8% | +34.7% | |
| Q2 2016 | +13.8% | +10.6% | +13.8% | |
| Q1 2016 | -2.6% | — | — | |
| Q4 2015 | -11.7% | — | — | |
| Q3 2015 | +4.9% | — | — | |
| Q2 2015 | -13.4% | — | — | |
| Q1 2014 | -0.9% | — | — | |
| Q1 2015 | +1.4% | — | — | |
| Q4 2012 | -1.1% | — | — | |
| Q3 2013 | -1.1% | — | — | |
| Q1 2013 | -1.1% | — | — | |
| Q4 2014 | +0.8% | — | — | |
| Q3 2014 | +5.4% | — | — | |
| Q2 2013 | +2.1% | — | — | |
| Q4 2013 | +2.1% | — | — | |
| Q2 2014 | -0.2% | — | — |
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