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Sep 30, 2023
Hci Group Q3 2023 Earnings Report
HCI Group reported strong earnings driven by an improved operating environment in Florida and rising interest rates.
Key Takeaways
HCI Group reported a net income of $15.7 million, or $1.34 diluted earnings per share, in Q3 2023, compared to a net loss of $51.5 million, or $5.66 loss per share, in Q3 2022. The company benefited from an improved operating environment in Florida and rising interest rates.
Pre-tax income for the third quarter was $20.1 million.
Diluted earnings per share for the third quarter were $1.34.
Adjusted net income for the third quarter was $16.5 million, or $1.41 diluted earnings per share.
Consolidated gross premiums earned increased to $188.3 million from $181.7 million in the third quarter of 2022.
Revenue by Segment
Forward Guidance
HCI Group expects Florida consumers will benefit from a stabilized homeowners insurance market with greater choice and more competition as a result of the insurance reforms.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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