The large EPS beat and new buyback authorization signal strong underwriting profitability and capital return. Monitor the Q4 2026 earnings for continued reserve development and the pace of share repurchases under the new $50M program.
Price Chart
Executive Summary
Heritage Insurance reported Q3 2026 EPS of $1.72, beating the $0.93 consensus by 84.9%, and revenue of $219.2M, above the $217.3M estimate. Net income rose modestly to $51.1M from $50.4M a year ago despite $15.8M in catastrophe losses, and the company announced a new $50M share repurchase program.
Key Financial Metrics
Key Facts
- Q3 2026 diluted EPS $1.72 vs consensus $0.93 (beat by 84.9%)
- Q3 2026 total revenue $219.2M vs consensus $217.3M (beat)
- Net income $51.1M vs $50.4M in prior-year quarter, up 1.4%
- Net premiums earned up 5.4% to $205.6M
- Net combined ratio 73.0%, relatively flat vs 72.9% a year ago
- Book value per share $20.22, up 42.9% from prior-year quarter
- Board authorized new $50M share repurchase program through Dec 2027
- Year-to-date repurchased 1,101,508 shares for $27.9M
- Debt-to-capital ratio improved to 10.5% from 15.3%
- Annualized ROE of 35.1% for Q3 2026
Financial Impact
EPS surprise of +84.9% on consensus of $0.93; revenue beat of ~$1.9M; new $50M buyback authorization (4.5% of market cap)
Risk Factors
- Catastrophe losses of $15.8M in the quarter, including hurricane losses, could recur and pressure earnings
- Gross premiums written declined 3.1% due to competitive commercial residential market in Florida
- Premiums-in-force down 2.8% year-over-year, indicating top-line contraction
- Accumulated other comprehensive loss of $33.2M from rising interest rates
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302922705 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 28, 2026 2d ago | 8-K | No price | awaiting T+60 | awaiting T+60 | No price |
Oct 28, 2026 2d ago | Press Release | $36.14 | awaiting T+60 | awaiting T+60 | $35.64 (−1.38%) |
Oct 19, 2026 11d ago | 144 | $36.98 | awaiting T+60 | awaiting T+60 | $35.64 (−3.62%) |
Oct 19, 2026 11d ago | Press Release | $36.98 | awaiting T+60 | awaiting T+60 | $35.64 (−3.62%) |
Sep 25, 2026 5w ago | SC 13G/A | $33.26 | awaiting T+60 | awaiting T+60 | $35.64 (+7.16%) |
Sep 22, 2026 5w ago | Insider Cluster | $33.07 | awaiting T+60 | awaiting T+60 | $35.64 (+7.77%) |
Sep 18, 2026 6w ago | 144 | $34.15 | awaiting T+60 | awaiting T+60 | $35.64 (+4.36%) |
Sep 16, 2026 6w ago | Insider Cluster | $35.42 | awaiting T+60 | awaiting T+60 | $35.64 (−0.62%) |
Sep 11, 2026 7w ago | Insider Cluster | $35.09 | awaiting T+60 | awaiting T+60 | $35.64 (+1.57%) |
Sep 8, 2026 7w ago | Insider Cluster | $34.05 | awaiting T+60 | awaiting T+60 | $35.64 (−4.67%) |
US Market Status
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