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Heritage Insurance (HRTG) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended June 2024, Heritage Insurance (HRTG - Free Report) reported revenue of $203.57 million, up 9.9% over the same period last year. EPS came in at $0.61, compared to $0.32 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $196.81 million, representing a surprise of +3.44%. The company delivered an EPS surprise of +60.53%, with the consensus EPS estimate being $0.38.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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
: 45.6% compared to the 47.3% average estimate based on two analysts.
Combined Ratio
: 92.5% versus the two-analyst average estimate of 96.5%.
Expense Ratio
: 36.8% versus 36.5% estimated by two analysts on average.
Loss Ratio
: 55.7% compared to the 60% average estimate based on two analysts.
Revenues- Net investment income
: $9.77 million versus $8.50 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +48% change.
Revenues- Net premiums earned
: $190.32 million versus $184.94 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +7.6% change.
Revenues- Other revenue
: $3.47 million versus $3.38 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -0.1% change.
Shares of Heritage Insurance have returned +8.1% over the past month versus the Zacks S&P 500 composite's -6.7% 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 (HRTG) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended June 2024, Heritage Insurance (HRTG - Free Report) reported revenue of $203.57 million, up 9.9% over the same period last year. EPS came in at $0.61, compared to $0.32 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $196.81 million, representing a surprise of +3.44%. The company delivered an EPS surprise of +60.53%, with the consensus EPS estimate being $0.38.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
View all Key Company Metrics for Heritage Insurance here>>>Ceded Premium Ratio
: 45.6% compared to the 47.3% average estimate based on two analysts.Combined Ratio
: 92.5% versus the two-analyst average estimate of 96.5%.Expense Ratio
: 36.8% versus 36.5% estimated by two analysts on average.Loss Ratio
: 55.7% compared to the 60% average estimate based on two analysts.Revenues- Net investment income
: $9.77 million versus $8.50 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +48% change.Revenues- Net premiums earned
: $190.32 million versus $184.94 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +7.6% change.Revenues- Other revenue
: $3.47 million versus $3.38 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -0.1% change.Shares of Heritage Insurance have returned +8.1% over the past month versus the Zacks S&P 500 composite's -6.7% 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.