Heritage insurance holdings, inc. (HRTG)
Income statement / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Sep'13Jun'13
REVENUES:
Gross premiums written

956,691

937,937

924,197

920,507

929,331

923,349

871,363

792,105

687,696

625,565

610,756

603,633

621,673

626,704

639,333

641,094

599,396

586,098

600,022

537,800

501,472

436,407

292,119

286,397

0

0

0

Change in gross unearned premiums

26,318

13,690

4

-6,233

1,578

-2,977

-4,214

-2,371

-28,163

-17,739

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in gross unearned premiums

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,653

53,876

48,714

-

112,031

98,169

124,817

124,893

45,754

91,866

0

0

0

Gross premiums earned

930,373

924,247

924,193

926,740

927,753

926,326

875,577

794,476

715,859

643,304

620,267

631,900

643,183

640,518

623,680

587,218

550,682

524,740

487,991

439,631

376,655

311,514

246,365

194,531

0

0

0

Ceded premiums

435,345

445,534

457,925

466,096

469,988

472,144

438,299

380,228

322,363

263,740

247,525

252,811

245,628

228,797

209,293

192,025

169,561

148,472

127,741

106,215

93,790

87,902

82,502

64,571

0

0

0

Net premiums earned

495,028

478,713

466,268

460,644

457,765

454,182

437,278

414,248

393,496

379,564

372,742

379,089

397,555

411,721

414,387

395,193

381,121

376,268

360,250

333,416

282,865

223,612

163,863

129,960

0

0

0

Retroactive reinsurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Net investment income

14,430

14,432

14,733

14,925

13,650

13,280

12,826

11,714

12,132

11,332

10,805

10,396

9,646

9,181

8,311

7,958

7,825

7,421

7,082

6,235

4,864

3,849

2,765

1,763

0

0

0

Net realized and unrealized gains

0

-

0

-

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net realized gains (losses)

-

-

-

0

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net realized gains (losses)

-

-

-

-

-

-

-

-

-

-

981

1,735

2,123

-

3,709

0

0

-

0

-

-

-

-

-

-

-

-

Net realized gains (losses)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

-

-

-

-

Net realized gains (losses)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

Other revenue

13,094

13,997

15,590

15,546

16,217

15,186

14,689

14,822

14,162

15,163

16,283

17,123

17,362

16,323

13,342

12,000

10,391

9,595

9,449

7,765

6,998

6,055

4,643

4,190

0

0

0

Total revenues

525,750

511,305

497,681

491,277

486,406

480,171

463,911

440,390

419,356

406,623

400,811

408,343

426,686

438,958

437,484

417,422

401,229

394,792

378,850

347,619

295,070

233,820

171,210

161,798

0

0

0

EXPENSES:
Losses and loss adjustment expenses

279,330

273,288

266,140

254,783

246,473

237,425

222,529

227,869

207,926

201,482

225,927

215,798

218,546

238,862

208,615

190,500

175,615

141,191

129,654

116,177

101,512

89,560

72,141

57,697

0

0

0

Policy acquisition costs, net of ceding commission income of $10.4 and $12.9

111,933

107,906

106,292

106,175

98,499

84,666

79,073

74,242

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Policy acquisition costs, net of ceding commission income of $14.3 million and $0, respectively

-

-

-

-

-

-

-

-

-

-

-

-

89,735

-

77,806

70,721

62,221

57,186

54,042

50,999

45,130

36,510

25,066

13,462

0

0

0

General and administrative expenses, net of ceding commission income of $3.5 and $4.3

83,658

80,544

74,841

79,179

85,217

88,544

95,056

84,661

76,331

71,714

63,134

61,905

61,790

58,910

57,361

53,396

49,355

46,125

46,945

43,840

37,705

33,498

23,292

21,750

0

0

0

Total expenses

474,921

461,738

447,273

440,137

430,189

410,635

393,558

382,840

356,894

357,088

378,090

368,423

370,071

382,193

0

0

0

-

-

-

-

-

-

-

-

-

-

Interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Total expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

230,641

211,016

184,347

159,568

120,503

92,919

0

0

0

Operating income

50,829

49,567

50,408

51,140

56,217

69,536

70,353

57,550

62,462

49,535

22,721

39,920

56,615

56,765

0

0

0

-

-

-

-

-

-

-

-

-

-

Interest expense, net

8,372

8,523

11,086

13,910

17,312

20,015

20,478

19,004

15,849

13,210

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other non-operating loss, net

-

-48

494

0

0

-

-

0

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income before income taxes

42,457

40,996

28,205

26,113

28,330

38,994

15,083

-3,129

4,396

-5,892

7,313

35,146

54,072

56,403

93,702

102,805

114,038

150,290

148,209

136,603

110,723

74,252

50,707

68,879

0

0

0

Provision for income taxes

13,165

12,360

8,458

8,510

9,040

11,839

-3,095

-6,622

-3,331

-4,773

6,240

14,447

21,647

22,538

36,738

39,958

44,159

57,778

56,262

51,504

41,458

27,155

17,961

25,080

0

0

0

Net income

29,292

28,636

19,747

17,603

19,290

27,155

18,178

3,493

7,727

-1,119

1,073

20,699

32,425

33,865

56,964

62,847

69,879

92,512

91,947

85,099

69,265

47,097

32,746

43,799

0

0

0

OTHER COMPREHENSIVE INCOME
Change in net unrealized gains on investments

13,756

19,765

23,751

16,427

8,814

-5,700

-12,703

-9,215

-4,771

5,688

0

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

Reclassification adjustment for net realized investment (gains) losses

2,128

1,734

-147

-245

-271

-163

-754

-394

-434

564

0

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

Change in net unrealized (losses) gains on investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,593

-1,564

4,007

4,395

4,811

3,139

0

0

0

Reclassification adjustment for net realized investment gain

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,069

203

343

304

-61

-187

0

0

0

Income tax expense related to items of other comprehensive income

2,222

4,174

5,764

3,064

1,999

-2,232

-2,945

-1,199

111

3,170

0

0

0

-

-

2,769

-1,562

-2,358

-1,801

-683

1,412

1,578

1,880

1,282

0

0

0

Total comprehensive income

38,698

42,493

37,881

31,211

26,376

23,850

9,174

-4,129

3,279

835

0

0

0

-

-

67,252

67,403

88,756

89,086

84,015

71,517

49,610

35,738

45,843

0

0

0

Weighted average shares outstanding
Basic

28,548

28,858

29,109

29,346

29,540

26,773

25,631

25,631

25,727

24,220

25,883

28,283

28,806

29,293

29,213

29,653

30,367

30,372

30,177

29,877

29,798

29,999

29,794

22,119

16,360

15,254

15,203

Diluted

28,549

28,866

29,168

29,352

29,544

25,287

26,046

26,316

26,732

24,220

25,883

28,283

28,806

29,178

29,213

29,653

30,491

30,437

30,483

30,268

30,115

30,120

29,814

24,333

18,997

15,254

15,203

Earnings per share
Basic

0.27

0.44

0.28

0.02

0.24

0.15

0.23

0.09

0.58

-0.14

-0.34

0.23

0.21

-0.09

0.37

0.62

0.24

0.66

0.56

0.85

1.01

0.68

0.33

0.43

0.48

0.35

1.38

Diluted

0.27

0.44

0.28

0.02

0.24

0.17

0.23

0.09

0.55

-0.14

-0.34

0.23

0.21

-0.09

0.37

0.62

0.24

0.66

0.55

0.84

1.00

0.68

0.33

0.39

0.42

0.35

1.38