HRTG earnings analysis
What we found in HRTG's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Heritage Insurance delivered stronger second-quarter results, with revenue of $214.195 million and diluted EPS of $2.05, representing sequential increases of approximately 2% and 72%, respectively. EPS also rose 32% year over year and exceeded the $1.16 consensus estimate by approximately 76.7%. The company continued share repurchases, with 631,024 shares purchased and $37.416 million of authorization remaining, while portfolio duration increased to 3.4 years and no material changes to the previously disclosed risk factors were reported.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue increased sequentially and year over year
- Second-quarter revenue was $214.195 million, up approximately 2.0% from $210 million in Q1 2026 and approximately 3.0% from $208 million in Q2 2025.
- EPS sharply exceeded prior periods and estimates
- Diluted EPS was $2.05, up 72% from $1.19 in Q1 2026 and 32% from $1.55 in Q2 2025. EPS exceeded the $1.16 consensus estimate by $0.89, or approximately 76.7%.
- Share repurchases continued
- The company repurchased 631,024 shares during the quarter at an average price of $23.59, including 554,624 shares under the new plan and 76,400 under the prior plan.
- Repurchase authorization remains available
- The new share repurchase plan had $37.416 million of capacity remaining at June 30, 2026, after the company authorized purchases of up to $50.0 million through December 31, 2026.
- Investment portfolio credit quality remained strong
- The fixed-maturity securities portfolio maintained an estimated weighted-average credit quality rating of A+ at June 30, 2026, consistent with June 30, 2025.
- No reported control deficiencies
- Disclosure controls and procedures were concluded to be effective as of June 30, 2026, and management reported no material change in internal controls during the quarter.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Greater interest-rate sensitivity
- Portfolio duration increased to 3.4 years at June 30, 2026, from 3.0 years at June 30, 2025 and 3.1 years at December 31, 2025, increasing sensitivity to interest-rate movements. Management anticipates fixed-rate debt-security fair values would increase if interest rates decrease during 2026.
- Counterparty and credit risk
- Credit risk remains dependent on counterparties’ ability to meet obligations, although the fixed-maturity securities portfolio had an A+ estimated weighted-average credit rating at June 30, 2026.
- No material risk-factor updates
- The filing states there were no material changes to the risk factors disclosed in the December 31, 2025 Form 10-K filed March 12, 2026. Routine legal proceedings remain a potential exposure, although the company does not expect a material adverse effect.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $2.05
What they said about what is next.
The filing does not provide explicit quantitative revenue or EPS guidance; no change in outlook was stated.
The filing reads better than the one before it.
What came before.
- 10-Q · May 8, 2026
- Heritage Insurance reported Q1 2026 earnings, with revenue of $212.7 million, a slight increase of 0.5% YoY, and an EPS of $1.19, showing a growth of 20.2% YoY but below analyst expectations of $1.53. The company…
- 10-K · March 12, 2026
- Heritage Insurance Holdings, Inc. posted a significant increase in net income for FY 2025, reporting $195.6 million or $6.32 per diluted share, up from $61.5 million or $2.01 in FY 2024. The improvement stems from…
- 10-Q · November 7, 2025
- Heritage Insurance Holdings, Inc. reported a significant increase in Q3 2025 net income, with EPS at $1.63, well above the expected $0.53. Despite a revenue miss at $195.1 million versus expectations of $210.1 million,…
- 10-Q · August 8, 2025
- Heritage Insurance Holdings, Inc. reported strong Q2 2025 results with a net income of $48.0 million, representing earnings per share (EPS) of $1.55, significantly up from $18.9 million or $0.61 EPS in Q2 2024. This…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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