HCI Group (HCI) Q1 FY2024 earnings: revenue $207 million, up 60.1% on the year

HCI Group, Inc. (HCI) reported revenue of $207 million for Q1 FY2024, the quarter ended 31 March 2024, up 60.1% on the same quarter a year earlier. Net income was $48 million, up 210.4% on the year, and diluted earnings per share $3.81. The figures are the company's own, from the 10-Q it filed with the SEC on 9 May 2024.

Revenue$207 millionup 60.1%

Net income$48 millionup 210.4%

Diluted EPS$3.81

QuarterQ1 FY2024ended 31 March 2024

The quarter, against the one before and a year earlier

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Revenue	207	163	n/a	n/a
Operating income	77.4	54.2	n/a	n/a
Operating margin	37.5%	33.3%	n/a
Interest expense	3.1	2.8	n/a	n/a
Pre-tax income	77.4	54.2	n/a	n/a
Income tax	20.5	13.2	n/a	n/a
Effective tax rate	26.4%	24.5%	n/a
Net income	47.6	40.9	n/a	n/a
Net margin	23.0%	25.2%	n/a
Diluted EPS	$3.81	$3.40	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	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Operating cash flow	182	153	n/a	n/a
Capital expenditure	0.9	1.3	n/a	n/a
Free cash flow	181	152	n/a	n/a
Free cash flow margin	87.6%	93.5%	n/a
Cash from investing	-4.9	-21.4	n/a	n/a
Cash from financing	-58.2	80.9	n/a	n/a
Depreciation and amortisation	0.3	1.4	n/a	n/a
Share-based compensation	1.6	3.5	n/a	n/a
Buybacks	0.6	0.0	n/a	n/a
Dividends paid	4.0	3.4	n/a	n/a
Dividend per share	$0.40	n/a	n/a	n/a
Diluted shares, weighted	13m	n/a	n/a	n/a
Shares outstanding at period end	10m	10m	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	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Shareholders' equity	396	325	n/a	n/a
Non-controlling interest	2.2	2.3	n/a	n/a
Redeemable equity	0.0	96.2	n/a	n/a
Debt	189	213	n/a	n/a
Other liabilities	1,255	1,175	n/a	n/a
Total liabilities and equity	1,842	1,811	n/a	n/a
Fixed assets	29.3	29.3	n/a	n/a
Intangible assets	7.0	7.7	n/a	n/a
Securities held for sale or to maturity	471	383	n/a	n/a
Cash and equivalents	655	536	n/a	n/a
Other assets	679	855	n/a	n/a
Total assets	1,842	1,811	n/a	n/a

Questions

What was HCI Group's revenue in Q1 FY2024?

HCI Group (HCI) reported revenue of $207 million for Q1 FY2024, the quarter ended 31 March 2024, up 60.1% on the same quarter a year earlier.

How much did HCI Group earn in Q1 FY2024?

Net income for Q1 FY2024 was $48 million, up 210.4% on the year, and diluted earnings per share $3.81.

When did HCI Group report Q1 FY2024 results?

HCI Group filed its 10-Q for the quarter ended 31 March 2024 with the SEC on 9 May 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-Q for the period ended 31 March 2024, filed 9 May 2024, accession 0000950170-24-056839: the filing on EDGAR. All of HCI Group, Inc.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install