Heritage Insurance Holdings, Inc. (NYSE:HRTG) Q4 2022 Earnings Conference Call March 3, 2023 9:00 AM ET
Company Participants
Ernie Garateix - Chief Executive Officer
Kirk Lusk - Chief Financial Officer
Conference Call Participants
Paul Newsome - Piper Sandler
Mark Hughes - Truist
Operator
Good day and welcome to the Heritage Insurance Holdings Fourth Quarter 2022 Earnings Conference Call. [Operator Instructions] Please note today’s event is being recorded. I would now like to turn the conference over to Kirk Lusk, Chief Financial Officer for the company. Please go ahead, sir.
Kirk Lusk
Good morning and thank you for joining us today. We invite you to visit the Investors section of our website, investors.heritagepci.com, where the earnings release and our earnings call will be archived. These materials are available for replay or review at your convenience.
Today’s call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based upon management’s current expectations and subject to uncertainty and changes in circumstances. In our earnings press release and our SEC filings, we detail material risks that may cause our future results to differ from our expectations. Our statements are as of today and we have no obligation to update any forward-looking statements we may make. For a description of the forward-looking statements and the risks that could cause our results to differ materially from those described in the forward-looking statements, please refer to our annual report on Form 10-K, earnings release and other SEC filings. Our comments today will also include non-GAAP financial measures. The reconciliations of and other information regarding these measures can be found in our press release.
With me on the call today is Ernie Garateix, our Chief Executive Officer. I will now turn the call over to Ernie.
Ernie Garateix
Thank you, Kirk and thank you all for joining us today. I will provide an overview of our strategic initiatives for the fourth quarter 2022. Kirk will provide an update on key financial performance metrics and then we will open the call for Q&A.
We are pleased to announce that we returned to positive adjusted net income in the fourth quarter. We are encouraged by the strategic initiatives that we believe will enable Heritage to achieve consistent long-term quarterly earnings and drive shareholder value. These strategic profitability initiatives include rate adequacy and selective underwriting, product selection and capital allocation as well as diversification of our portfolio of policies throughout 16 states. We remain encouraged by our improving metrics and the long-term positive impact we believe it will have on our underwriting income.