Heritage Insurance Hldgs Q1 2024 GAAP EPS $0.47 Misses $0.56 Estimate, Sales $191.302M Beat $189.047M Estimate
Portfolio Pulse from Benzinga Newsdesk
Heritage Insurance Holdings (NYSE:HRTG) reported Q1 2024 earnings of $0.47 per share, missing the consensus estimate of $0.56 by 16.07%. Year-over-year, earnings decreased by 14.55% from $0.55. Q1 sales were $191.302M, exceeding estimates by 1.19% and marking an 8.13% increase from the previous year.

May 01, 2024 | 9:29 pm
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Heritage Insurance Holdings reported a Q1 2024 EPS of $0.47, missing estimates, but sales of $191.302M beat expectations and grew 8.13% YOY.
The miss in earnings per share (EPS) is likely to negatively impact investor sentiment in the short term, despite the sales beat and year-over-year growth. Typically, earnings misses can lead to a decrease in stock price as they may indicate underlying issues or a less favorable outlook than expected by the market.
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