Recap: Heritage Insurance Hldgs Q4 Earnings
Portfolio Pulse from Benzinga Insights
Heritage Insurance Holdings (NYSE:HRTG) reported Q4 earnings with an EPS of $1.15, beating estimates by 150% and marking a revenue increase of $12.38 million from the previous year. Despite missing EPS estimates last quarter, the company's share price increased by 11% the following day. This performance contrasts with past quarters where EPS and revenue have shown variability.
March 11, 2024 | 8:55 pm
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Heritage Insurance Holdings reported a significant beat on Q4 earnings estimates with an EPS of $1.15, far exceeding the expected $0.46, and a notable year-over-year revenue increase.
The substantial beat on earnings estimates and the year-over-year revenue growth are strong indicators of positive momentum for Heritage Insurance Holdings. Historically, a beat on earnings estimates, especially of this magnitude, has been followed by an increase in share price, as evidenced by the 11% increase after the last quarter's earnings miss. This pattern suggests a likely positive short-term impact on HRTG's stock price.
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