Quarterly ResultAug 5, 2026, 04:54 PM
Heritage Q2 Net Income $61.7M, EPS $2.05; Combined Ratio 64.9%
AI Summary
Heritage Insurance Holdings, Inc. reported record second quarter 2026 financial results, with net income increasing 28.5% to $61.7 million and diluted earnings per share rising 32.3% to $2.05. Total revenue grew 3.0% to $214.2 million, driven by lower ceded premiums and higher investment income. The company also saw significant improvements in its net loss ratio and net combined ratio, which improved by 8.1 and 8.0 percentage points respectively. Heritage continued its share repurchase program, buying back over 1 million shares year-to-date, and expanded its operations by starting to write business in Texas.
Key Highlights
- Net income for Q2 2026 was $61.7 million, a 28.5% increase from the prior-year quarter.
- Diluted earnings per share rose 32.3% to $2.05 in Q2 2026 compared to $1.55 in Q2 2025.
- Total revenue increased 3.0% to $214.2 million in Q2 2026 from $208.0 million in Q2 2025.
- The net combined ratio improved by 8.0 percentage points to 64.9% in Q2 2026.
- Book value per share increased to $19.09, up 54.5% from the prior-year quarter.
- The company repurchased 1,001,508 shares of common stock for $24.6 million year-to-date in 2026.
- Cash flow from operations was $166.5 million, a 277% increase from the prior-year quarter.
- Heritage began writing business in Texas on a surplus lines basis during the quarter.
Price Impact
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