HCI Group, Inc. (NYSE:HCI) Q2 2023 Earnings Conference Call August 8, 2023 4:45 PM ET

Company Participants

Matt Glover - Gateway Group

Karin Coleman - COO & Director

Pareshbhai Patel - Founder, Chairman, President & CEO

James Harmsworth - CFO

Conference Call Participants

Matthew Carletti - JMP Securities

Mark Hughes - Truist Securities

Operator

Good afternoon and welcome to HCI Group's Second Quarter 2023 Earnings Call. My name is John, and I will be your conference operator. [Operator Instructions].

Before we begin today's call, I would like to remind everyone that this conference call is being recorded and will be available for replay through June 8, 2023, starting later today. The call is also being broadcast live via webcast and available via webcast replay until May 9, 2024, on the Investor Information section of HCI Group's website at www.hcigroup.com.

I would now like to turn the call over to Matt Glover, Gateway Investor Relations. Matt, please proceed.

Matt Glover

Thank you, John, and good afternoon, everyone. Welcome to HCI Group's Second Quarter 2023 Earnings Call. On today's call is Karin Coleman, HCI's Chief Operating Officer; Mark Harmsworth, HCI's Chief Financial Officer; and Paresh Patel, HCI's Chairman and Chief Executive Officer. Following Karin's operational update, Mark will review our financial performance for the second quarter of 2023, and then Paresh will provide a strategic update.

To access today's webcast, please visit the Investor Information section of our corporate website at www.hcigroup.com.

Before we begin, I would like to take the opportunity to remind our listeners that today's presentation and responses to questions may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as anticipate, estimate, expect, intend, plan and project and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties.

Some of these risks and uncertainties are identified in the company's filings with the Securities and Exchange Commission. Should any risks or uncertainties develop into actual results, these developments could have material adverse effects on the company's business, financial conditions and results of operations. HCI Group disclaims all the obligations to update any forward-looking statements.

Now with that, I would like to turn the call over to Karin Coleman, Chief Operating Officer. Karin?

Karin Coleman

Thank you, Matt, and welcome, everyone. HCI Group reported another strong quarter with pretax income of $20.3 million and diluted earnings per share of $1.28. Operating earnings improved over last quarter, again reflecting positive contributions from each of our business segments.