Heritage Insurance Holdings, Inc. Earnings Per Share Disclosure
Note 4. Earnings Per Share
The following table sets forth the computation of basic and diluted net income per share for the periods indicated:
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For the Year Ended December 31, |
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2025 |
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2024 |
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2023 |
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Basic earnings per share: |
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Net income attributable to common stockholders (000's) |
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$ |
195,594 |
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$ |
61,539 |
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$ |
45,307 |
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Weighted average shares outstanding |
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|
30,890,609 |
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|
30,595,348 |
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|
26,193,065 |
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Basic earnings per share: |
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$ |
6.33 |
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|
$ |
2.01 |
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|
$ |
1.73 |
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Diluted earnings per share: |
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Net income attributable to common stockholders (000's) |
|
$ |
195,594 |
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|
$ |
61,539 |
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|
$ |
45,307 |
|
Weighted average shares outstanding |
|
|
30,890,609 |
|
|
|
30,595,348 |
|
|
|
26,193,065 |
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Add: Effect of dilutive securities |
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5.875% Convertible Notes |
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59,289 |
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|
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59,263 |
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59,263 |
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Diluted weighted average common shares outstanding |
|
|
30,949,899 |
|
|
|
30,654,611 |
|
|
|
26,252,328 |
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Diluted earnings per share: |
|
$ |
6.32 |
|
|
$ |
2.01 |
|
|
$ |
1.73 |
|
Basic earnings per share is computed by dividing net income by the weighted-average number of common stock outstanding during the reporting period. Diluted earnings per share gives effect to all dilutive common stock outstanding during
the reporting period. The dilutive shares the Company considers in its diluted earnings per share calculation relate to its outstanding 5.875% Convertible Notes.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 12, 2026 | Showing above |
| 2024 | Mar 13, 2025 | |
| 2023 | Mar 13, 2024 | |
| 2022 | Mar 13, 2023 | |
| 2021 | Mar 14, 2022 | |
| 2020 | Mar 9, 2021 | |
| 2017 | Mar 15, 2018 | |
| 2015 | Mar 8, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.