HCI Group (HCI) Beats Q2 Earnings and Revenue Estimates

Financial Performance - HCI Group reported quarterly earnings of $4.21 per share, exceeding the Zacks Consensus Estimate of $3.58 per share, and significantly up from $1.22 per share a year ago, representing an earnings surprise of 17.60% [1] - The company posted revenues of $206.25 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 4.87%, and up from $127.33 million year-over-year [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.43 on revenues of $188.32 million, and for the current fiscal year, it is $11.63 on revenues of $772.94 million [7] - The estimate revisions trend for HCI Group is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Insurance - Property and Casualty industry is currently ranked in the top 36% of over 250 Zacks industries, suggesting that companies in the top 50% outperform those in the bottom 50% by more than 2 to 1 [8]