HCI Group, Inc. Reports Q4 2024 Financial Results: Pre-Tax Income of $5.9 Million and Net Income of $4.1 Million
Tampa, Florida-based HCI Group, Inc. (NYSE: HCI), a holding company primarily engaged in underwriting, managing and administering property and casualty insurance and related services, announced its financial results for the fourth quarter of 2024. The company reported pre-tax income of $5.9 million and net income of $4.1 million.
Fourth Quarter Financial Highlights
- Total revenues for the quarter were $115.3 million, compared to $116.5 million in the same period last year.
- Net written premiums were $105.8 million, a decrease from $113.3 million in Q4 2023.
- Combined ratio was 105.3%, compared to 99.8% in the same period last year.
- Cash and cash equivalents were $102.5 million at December 31, 2024, compared to $101.6 million at December 31, 2023.
Full Year 2024 Financial Results
The company also reported full-year 2024 financial results, with pre-tax income of $173.4 million and net income of $119.1 million.
- Total revenues for the year were $442.6 million, a decrease from $448.8 million in 2023.
- Net written premiums were $396.2 million, a decrease from $408.5 million in 2023.
- Combined ratio was 102.1%, compared to 100.3% in 2023.
- Cash and cash equivalents were $127.6 million at December 31, 2024, compared to $122.7 million at December 31, 2023.
Impact on Individual Investors
The lower than expected fourth quarter earnings could negatively impact individual investors holding HCI Group, Inc. stock. The company’s diluted earnings per share (EPS) for the quarter was $0.23, which is lower than the consensus estimate of $0.26. The full-year diluted EPS was $8.89, which is also below the consensus estimate of $9.15.
Impact on the World
The financial performance of HCI Group, Inc. may not have a significant impact on the world as a whole, as it is primarily focused on the property and casualty insurance industry. However, it could potentially affect the overall insurance market by influencing investor sentiment and potentially leading to changes in pricing or underwriting standards.
Conclusion
HCI Group, Inc. reported lower than expected financial results for the fourth quarter of 2024, with pre-tax income of $5.9 million and net income of $4.1 million. The company’s full-year financial results also showed a decrease in revenues, net written premiums, and cash and cash equivalents compared to 2023. These results may negatively impact individual investors holding HCI Group, Inc. stock, and potentially influence the insurance market as a whole.
Despite the lower than expected earnings, HCI Group, Inc. remains committed to its mission of providing property and casualty insurance and related services to its customers. The company will continue to focus on underwriting discipline, risk management, and operational efficiency to drive long-term growth and value for its stakeholders.
