Heritage Insurance Holdings Inc. (HRTG) on Thursday reported fourth-quarter net income of $12.5 million, after reporting a loss in the same period a year earlier. For the year 2022, though, the company reported that its loss widened to $154.4 million, or $5.86 per share.
On a per-share basis, the Tampa, Florida-based company said it had profit of 48 cents.
The property and casualty insurance holding company posted revenue of $174.6 million in the period. Revenue was reported as $662.5 million.
The earnings report came two months after the Heritage board of directors authorized the repurchase of $10 million in shares from stockholders, marking the second buy-back plan in recent months. The company had reported a third quarter net loss of more than $48 million, which followed an $88 million loss for Q2. Heritage also has reported more than $40 million in losses from Hurricane Ian, which caused heavy damage across Florida in September and October.
Topics Florida Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Connecticut High Court: Injured Rental Car Occupants Covered for Uninsured Motorist 
Hedge Fund Money Is Reshaping a 180-Year-Old Insurance Model 
Data Centers Offer a Potential $10 Billion Windfall for Insurers 
AI Ruling Prompts Warnings From Lawyers: Your Chats Could Be Used Against You 
