HCI Group Inc. (HCI) Financial Statements (2024 and earlier)

Company Profile

Business Address 3802 COCONUT PALM DRIVE
TAMPA, FL 33619
State of Incorp. FL
Fiscal Year End December 31
Industry (SIC) 6331 - Fire, Marine, and Casualty Insurance (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

6/30/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments582,015269,446680,683482,471264,503305,937
Cash and cash equivalents536,478234,863628,943431,341229,218239,458
Short-term investments45,53734,58351,74051,13035,28566,479
Total current assets:582,015269,446680,683482,471264,503305,937
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization   867979
Operating lease, right-of-use asset1,4077772,2044,002484
Property, plant and equipment29,25117,91014,23212,76714,69813,338
Long-term investments and receivables  18363705762845
Long-term investments  18363705762845
Intangible assets, net (including goodwill)7,65910,57810,6363,5684,1924,800
Intangible assets, net (excluding goodwill)7,65910,57810,6363,5684,1924,800
Deferred income tax assets 512    
Total noncurrent assets:38,82929,28327,52121,12120,21518,983
Other undisclosed assets1,190,4721,504,599468,653437,721517,891507,943
TOTAL ASSETS:1,811,3161,803,3281,176,857941,313802,609832,863
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Liabilities, other than long-term debt 1,70411,73911,925  
Deferred income tax liabilities 1,70411,73911,925 
Total noncurrent liabilities: 1,70411,73911,925  
Other undisclosed liabilities1,387,9911,546,817750,660728,252617,066651,422
Total liabilities:1,387,9911,548,521762,399740,177617,066651,422
Temporary equity, carrying amount96,16093,55389,955   
Equity
Equity, attributable to parent324,843162,596323,365201,136185,543181,441
Additional paid in capital89,568 76,077   
Accumulated other comprehensive income (loss)(3,163)(9,886)4981,5442,178(1,453)
Retained earnings238,438172,482246,790199,592183,365182,894
Equity, attributable to noncontrolling interest2,322(1,342)1,138   
Total equity:327,165161,254324,503201,136185,543181,441
TOTAL LIABILITIES AND EQUITY:1,811,3161,803,3281,176,857941,313802,609832,863

Income Statement (P&L) ($ in thousands)

6/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues550,670499,563407,915310,437242,474231,292
Premiums earned, net495,885463,572377,303262,460216,314 
Cost of revenue(86,214)(100,669)(86,963)(49,125)(37,146)(35,204)
Policyholder benefits and claims incurred, net      
Deferred policy acquisition costs, amortization expense(86,214)(100,669)(86,963)(49,125)(37,146)(35,204)
Gross profit:464,456398,894320,952261,312205,328196,088
Operating expenses(22,634)(27,262)(21,843)(13,803)(12,203)(12,115)
Other operating expense, net    (50,761)(47,116)(40,393)
Operating income:441,822371,632299,109196,748146,009143,580
Interest and debt expense(177)(7,768)(8,154)(11,982)(13,055)(18,096)
Income from continuing operations before equity method investments, income taxes:441,645363,864290,955184,766132,954125,484
Other undisclosed loss from continuing operations before income taxes(323,995)(432,282)(279,722)(147,838)(96,861)(98,582)
Income (loss) from continuing operations before income taxes:117,650(68,418)11,23336,92836,09326,902
Income tax expense (benefit)(28,393)13,815(3,991)(9,348)(9,517)(9,177)
Income (loss) from continuing operations:89,257(54,603)7,24227,58026,57617,725
Income before gain (loss) on sale of properties:7,24227,58026,57617,725
Net income (loss):89,257(54,603)7,24227,58026,57617,725
Net loss attributable to noncontrolling interest(10,223)(3,908)(5,386)   
Net income (loss) attributable to parent:79,034(58,511)1,85627,58026,57617,725
Preferred stock dividends and other adjustments(7,263)(5,842)(4,208)   
Other undisclosed net income (loss) available to common stockholders, basic4,6389,3054,184(1,462)(1,448) 
Net income (loss) available to common stockholders, basic:76,409(55,048)1,83226,11825,12817,725
Other undisclosed net income available to common stockholders, diluted7,732  7,7058,748717
Net income (loss) available to common stockholders, diluted:84,141(55,048)1,83233,82333,87618,442

Comprehensive Income ($ in thousands)

6/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):89,257(54,603)7,24227,58026,57617,725
Other comprehensive income (loss)6,961(10,772)(1,068)(634)3,631(2,835)
Comprehensive income (loss):96,218(65,375)6,17426,94630,20714,890
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(1,091)5,5862,035   
Comprehensive income (loss), net of tax, attributable to parent:95,127(59,789)8,20926,94630,20714,890

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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