Heritage Insurance (NYSE: HRTG) reported Q4 EPS of $0.10, $0.49 better than the analyst estimate of ($0.39). Revenue for the quarter came in at $159.55 million versus the consensus estimate of $146.56 million.

Fourth Quarter 2020 Highlights

• Net income of $2.8 million, or $0.10 per diluted share.
• Book value per share of $15.94, up 1.8% year-over-year.
• Gross premiums written of $282.3 million, up 19.9% year-over-year.
• Launched partnership with The Hartford to offer bundled home and auto policies.
• Favorable prior year reserve development of $4.7 million.
• Net current accident quarter weather losses of $38.9 million, up substantially from $15.3 million in the prior year quarter. Current accident quarter weather losses include $24.4 million of catastrophe losses and $14.5 million of other weather losses.
• Total capital returned to shareholders of $1.7 million, reflecting $0.06 per share regular quarterly dividend.
• Began writing homeowners insurance in Maryland, representing sixteenth active state.

Ernie Garateix, the Company's CEO, said, "We were able to generate positive net income in the fourth quarter and full year and grow book value per share year-over-year despite experiencing unprecedented weather losses. I believe our solid organic growth platform and heightened focus on underwriting profitability position us well for 2021 and beyond."

For earnings history and earnings-related data on Heritage Insurance (HRTG) click here.