Heritage Insurance Holdings, Inc. filed its third quarter 2026 earnings release on October 28, 2026, reporting net income of $51.1 million and diluted earnings per share of $1.72 for the three months ended September 30, 2026.

Key Highlights

  • Q3 net income: $51.1 million, up from $50.4 million in the prior-year quarter, absorbing $15.8 million of pre-tax catastrophe losses.
  • Diluted EPS: $1.72 in Q3 2026, a 5.5% increase from $1.63 in Q3 2025, aided by a 4.0% reduction in diluted shares outstanding.
  • Year-to-date net income: $149.3 million, up 15.8% from $128.9 million for the nine months ended September 30, 2025, with year-to-date diluted EPS of $4.94, up 18.5%.
  • Total revenues: $219.2 million in Q3 2026, up 3.2% from $212.5 million in the prior-year quarter, with net premiums earned up 5.4% and net investment income up 17.3%.
  • Book value per share: $20.22 at September 30, 2026, up 42.9% from $14.15 in the prior-year quarter and up 23.4% from year-end 2025.
  • Share repurchases: 1,101,508 shares repurchased for approximately $27.9 million in 2026; a new $50.0 million repurchase program authorized on October 28, 2026, to run through December 31, 2027.
  • Net combined ratio: 73.0% in Q3 2026, compared with 72.9% in the prior-year quarter; debt-to-capital ratio improved to 10.5% from 15.3%.

Heritage Insurance Q3 2026 Financial Results: Earnings, Underwriting, and Capital Activity

According to the filing, Heritage Insurance Holdings (NYSE:HRTG) reported third quarter 2026 net income of $51.1 million, or $1.72 per diluted share, compared with $50.4 million, or $1.63 per diluted share, in the prior-year quarter. The company disclosed that results included $15.8 million of pre-tax catastrophe losses, comprising $9.1 million from Hurricanes Lala and Lowell and $6.7 million from other events, primarily a late September Nor'easter, with no such losses recorded in the prior-year quarter. The company noted that $14.0 million of favorable prior-year reserve development partially offset the higher catastrophe and weather losses.

On the underwriting side, the filing reported that gross premiums written decreased 3.1% to $322.8 million from $333.2 million in the prior-year quarter, primarily reflecting lower commercial residential premiums. Net premiums earned increased 5.4% to $205.6 million from $195.1 million, driven by lower ceded premiums. Ceded premiums declined 11.8% to $147.2 million, which the company attributed to improved pricing on its June 2026 catastrophe excess of loss program and a decrease in the northeast net quota share program. The filing stated that the catastrophe excess of loss reinsurance placement generated treaty-year expense savings of $63.2 million. Premiums-in-force were $1.40 billion, down 2.8% from $1.44 billion in Q3 2025.

Regarding capital management, the filing disclosed that the company repurchased 100,000 shares for approximately $3.3 million in Q3 2026, bringing the 2026 year-to-date total to 1,101,508 shares at a cost of approximately $27.9 million. As of September 30, 2026, $34.1 million remained under the existing authorization. The Board of Directors established a new share repurchase program on October 28, 2026, authorizing the repurchase of up to $50.0 million of common stock through December 31, 2027, to commence upon expiration of the existing program on December 31, 2026. The annualized return on equity was reported at 35.1% for Q3 2026 and 36.1% year to date, with stockholders' equity at September 30, 2026 up 37.0% from September 30, 2025.

What Was Disclosed

Heritage Insurance Holdings reported Q3 2026 net income of $51.1 million and diluted EPS of $1.72, with year-to-date net income of $149.3 million. The company also announced a new $50.0 million share repurchase program authorized October 28, 2026, and reported a net combined ratio of 73.0%.