HCI Group (HCI) Q4 FY2023 earnings: revenue $163 million, up 35.6% on the year

HCI Group, Inc. (HCI) reported revenue of $163 million for Q4 FY2023, the quarter ended 31 December 2023, up 35.6% on the same quarter a year earlier. Net income was $41 million, up 1443.3% on the year, and diluted earnings per share $3.40. The figures are the company's own, from the 10-K it filed with the SEC on 8 March 2024.

Revenue$163 millionup 35.6%

Net income$41 millionup 1443.3%

Diluted EPS$3.40

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	163	132	n/a	n/a
Operating income	54.2	20.1	n/a	n/a
Operating margin	33.3%	15.3%	n/a
Interest expense	2.8	2.8	n/a	n/a
Pre-tax income	54.2	20.1	n/a	n/a
Income tax	13.2	4.4	n/a	n/a
Effective tax rate	24.5%	22.0%	n/a
Net income	40.9	13.2	n/a	n/a
Net margin	25.2%	10.0%	n/a
Diluted EPS	$3.40	$1.34	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	153	71.4	n/a	n/a
Capital expenditure	1.3	2.4	n/a	n/a
Free cash flow	152	69.0	n/a	n/a
Free cash flow margin	93.5%	52.4%	n/a
Cash from investing	-21.4	-34.0	n/a	n/a
Cash from financing	80.9	-7.3	n/a	n/a
Depreciation and amortisation	1.4	1.4	n/a	n/a
Share-based compensation	3.5	1.8	n/a	n/a
Buybacks	0.0	0.0	n/a	n/a
Dividends paid	3.4	3.4	n/a	n/a
Dividend per share	n/a	$0.40	n/a	n/a
Diluted shares, weighted	n/a	11m	n/a	n/a
Shares outstanding at period end	10m	9m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	325	200	n/a	n/a
Non-controlling interest	2.3	1.1	n/a	n/a
Redeemable equity	96.2	93.8	n/a	n/a
Debt	213	213	n/a	n/a
Other liabilities	1,175	1,216	n/a	n/a
Total liabilities and equity	1,811	1,724	n/a	n/a
Fixed assets	29.3	28.8	n/a	n/a
Intangible assets	7.7	8.3	n/a	n/a
Securities held for sale or to maturity	383	419	n/a	n/a
Cash and equivalents	536	324	n/a	n/a
Other assets	855	944	n/a	n/a
Total assets	1,811	1,724	n/a	n/a

Questions

What was HCI Group's revenue in Q4 FY2023?

HCI Group (HCI) reported revenue of $163 million for Q4 FY2023, the quarter ended 31 December 2023, up 35.6% on the same quarter a year earlier.

How much did HCI Group earn in Q4 FY2023?

Net income for Q4 FY2023 was $41 million, up 1443.3% on the year, and diluted earnings per share $3.40.

When did HCI Group report Q4 FY2023 results?

HCI Group filed its 10-K for the quarter ended 31 December 2023 with the SEC on 8 March 2024.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025	Q1 FY2026	Q2 FY2026
Revenue	132	163	207	206	175	162	216	222	216	246	243	247
Operating income	20.1	54.2	77.4	76.0	14.1	5.9	100	94.4	90.6	144	115	111
Operating margin	15%	33%	37%	37%	8%	4%	46%	43%	42%	58%	48%	45%
Interest expense	2.8	2.8	3.1	3.5	3.4	3.3	3.4	3.7	1.0	1.0	0.9	1.1
Pre-tax income	20.1	54.2	77.4	76.0	14.1	5.9	100	94.4	90.6	144	115	111
Tax rate	22%	24%	26%	25%	33%	30%	26%	26%	25%	25%	26%	25%
Net income	13.2	40.9	47.6	54.1	5.7	4.1	69.7	66.2	65.5	97.7	73.4	73.8
Net margin	10%	25%	23%	26%	3%	3%	32%	30%	30%	40%	30%	30%
Diluted EPS	$1.34	$3.40	$3.81	$4.24	$0.52	$0.23	$5.35	$5.18	$4.90	$7.25	$5.45	$5.60
Operating cash flow	71.4	153	182	-29.0	104	74.7	162	145	26.7	111	149	125
Capital expenditure	2.4	1.3	0.9	1.1	1.0	1.1	1.7	0.5	0.8	0.6	0.3	0.3
Free cash flow	69.0	152	181	-30.1	103	73.6	160	144	25.9	110	148	125
Buybacks	0.0	0.0	0.6	0.5	0.0	0.0	0.6	0.0	0.0	0.8	17.5	57.0
Dividends paid	3.4	3.4	4.0	4.2	4.2	4.2	4.3	4.6	5.2	5.2	5.2	5.1
Shares outstanding	9m	10m	10m	10m	10m	11m	11m	13m	13m	13m	13m	12m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 8 March 2024, accession 0000950170-24-028620: the filing on EDGAR. All of HCI Group, Inc.'s filings: EDGAR company page.

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