HCI Group, Inc. (NYSE: HCI) Q2 profit rises to $83M
Rhea-AI Filing Summary
HCI Group, Inc. reported strong results for the three and six months ended June 30, 2026. Second-quarter pre-tax income was $111 million and net income $83 million, up from $94 million and $70 million a year earlier. Net income after noncontrolling interests rose to $74 million, and diluted earnings per share increased to $5.60 from $5.18. Gross premiums earned grew to $321 million with premiums ceded at $102 million, while the gross loss and loss adjustment expense ratio was a low 22.2%. For the first half of 2026, pre-tax income reached $226 million and net income $168 million, with diluted EPS of $11.05.
Total assets were $2.65 billion at June 30, 2026, and total equity was $1.17 billion. Book value per share increased markedly to $86.60 from $58.55 a year earlier. Cash and cash equivalents were $872.3 million, and total investments were $1.27 billion, alongside losses and loss adjustment expenses of $559.0 million and unearned premiums of $659.3 million.
HCI continued returning capital through dividends of $0.40 per share in the quarter and completed a share repurchase program authorized for up to $80 million, ultimately repurchasing 504,330 shares for $80.0 million. Shares outstanding at period end were 12,469,972. Management highlighted record second-quarter financial results and growth in Exzeo’s insurance technology revenues.
Positive
- Pre-tax income increased to $111 million and net income to $83 million in Q2 2026, both above the prior-year quarter, while diluted EPS rose to $5.60 from $5.18.
- Book value per share climbed to $86.60 at June 30, 2026 from $58.55 a year earlier, reflecting substantial growth in equity and retained earnings.
- Underwriting performance remained strong with a 22.2% gross loss and loss adjustment expense ratio in Q2 2026, alongside higher gross premiums earned of $321 million.
- The company completed an $80.0 million share repurchase program, buying 504,330 shares, which reduced the share count and returned capital in addition to regular dividends.
Negative
- None.
Insights
Analyzing...
8-K Event Classification
Key Figures
Key Terms
gross loss and loss adjustment expense ratio financial
catastrophe reinsurance programs financial
redeemable noncontrolling interests financial
participating securities financial
Earnings Snapshot
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
How did HCI (HCI) perform in Q2 2026 compared with Q2 2025?
What were HCI (HCI) earnings for the first six months of 2026?
How much capital did HCI (HCI) return via dividends in 2026 to date?
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report (or Date of Earliest Event Reported):
(Exact Name of Registrant as Specified in Its Charter)
|
|
|
|
|
|
|
|||
(State or Other Jurisdiction of Incorporation or Organization) |
|
(Commission File Number) |
|
(I.R.S. Employer Identification Number) |
(Address of Principal Executive Offices)
(
(Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On August 6, 2026, we released our earnings for the three and six months ended June 30, 2026. We plan to host an earnings conference call that same day at 4:45 p.m. Eastern time during which our Chief Executive Officer, Chief Operating Officer and Chief Financial Officer will discuss the results.
Interested parties may listen to the live presentation by dialing the listen-only number below or by clicking the webcast link available on the Investor Information section of the company’s website at www.hcigroup.com.
Date: Thursday, August 6, 2026
Time: 4:45 p.m. Eastern time (1:45 p.m. Pacific time)
Listen-only toll-free number: (888) 506-0062
Listen-only international number: (973) 528-0011
Entry Code: 202996
Please call the conference telephone number 10 minutes before the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Group at (949) 574-3860.
A replay of the call will be available after 8:00 p.m. Eastern time on the same day as the call and via the Investor Information section of the HCI Group website at www.hcigroup.com through August 6, 2027.
Toll-free replay number: (877) 481-4010
International replay number: (919) 882-2331
Replay ID: 54257
Our earnings release appears as Exhibit 99.1 to this form 8-K
Item 9.01 Financial Statements and Exhibits.
Exhibit 99.1 |
Press Release dated August 6, 2026 announcing HCI Group Inc.'s Financial Results for the three and six months ended June 30, 2026. |
Exhibit 104 |
Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
|
|
|
|
|
HCI Group, Inc. |
|
|
|
|
|
Date: August 6, 2026 |
|
By: |
/s/ James Mark Harmsworth |
|
|
|
James Mark Harmsworth Chief Financial Officer |
Exhibit 99.1
HCI Group Reports Second Quarter 2026 Results
Second Quarter Pre-Tax Income of $111 million
Diluted EPS of $5.60
Gross Loss Ratio of 22%
Tampa, Fla. – August 6, 2026 – HCI Group, Inc. (NYSE:HCI), reported pre-tax income of $111 million and net income of $83 million in the second quarter of 2026 compared with pre-tax income of $94 million and net income of $70 million in the second quarter of 2025. Net income after noncontrolling interests in the second quarter of 2026 was $74 million compared with $66 million in the second quarter of 2025. Diluted earnings per share were $5.60 in the second quarter of 2026 compared with $5.18 diluted earnings per share in the second quarter of 2025.
Management Commentary
“HCI Group capped a strong start to the year delivering record second quarter financial results for the first half of 2026,” said HCI Group Chairman and Chief Executive Officer Paresh Patel. “Our focus continues to be on achieving exceptional performance in all types of operating environments.”
Second Quarter 2026 Results
Gross premiums earned in the second quarter of 2026 were $321 million compared with $303 million in the second quarter of 2025. The increase of 6% was driven by a higher volume of insurance policies in force while average premium per policy remained relatively consistent.
Premiums ceded for reinsurance in the second quarter of 2026 were $102 million compared with $103 million in the second quarter of 2025. The decrease was a result of the lower costs associated with the company’s new 2026-2027 catastrophe reinsurance programs, which began on June 1, 2026.
Net investment income in the second quarter of 2026 was $19 million compared with $16 million in the second quarter of 2025. The increase was driven by growth in invested assets.
Other revenue in the second quarter of 2026 was $5 million compared with $3 million in the second quarter of 2025. The increase was primarily driven by the addition of new insurance carrier customers to Exzeo's insurance technology platform.
Losses and loss adjustment expenses in the second quarter of 2026 were $71 million compared with $64 million in the second quarter of 2025. The increase was driven largely by a higher volume of policies in force. The gross loss and loss adjustment expense ratio for the second quarter of 2026 was 22.2%.
Policy acquisition and other underwriting expenses in the second quarter of 2026 were $32 million compared with $31 million in the second quarter of 2025. The increase was driven by a greater amount of premiums in force.
General and administrative personnel expenses in the second quarter of 2026 were $24 million compared with $20 million in the second quarter of 2025. The increase was driven by additional personnel, annual merit increases, and stock-based compensation.
Six Months Ended June 30, 2026 Results
For the six months ended June 30, 2026, HCI Group reported pre-tax income of $226 million and net income of $168 million compared with pre-tax income of $195 million and net income of $145 million for the six months ended June 30, 2025. Net income after noncontrolling interests was $147 million compared with $136 million for the six months ended June 30, 2025. Diluted earnings per share were $11.05 for the six months ended June 30, 2026, compared with $10.57 for the six months ended June 30, 2025.
1
Gross premiums earned for the six months ended June 30, 2026 were $647 million compared with $603 million for the six months ended June 30, 2025. The increase of 7% was driven by a higher volume of insurance policies in force while average premium per policy remained relatively consistent.
Premiums ceded for reinsurance for the six months ended June 30, 2026 were $206 million compared with $202 million for the six months ended June 30, 2025. The increase was a result of a higher number of policies in force and partially offset by the company’s new 2026-2027 catastrophe reinsurance programs, which started on June 1, 2026.
Net investment income for the six months ended June 30, 2026 was $36 million compared with $30 million for the six months ended June 30, 2025. The increase was driven by growth in invested assets.
Other revenue for the six months ended June 30, 2026 was $8 million compared with $3 million for the six months ended June 30, 2025. The increase was primarily driven by the addition of new insurance carrier customers to Exzeo's insurance technology platform.
Losses and loss adjustment expenses for the six months ended June 30, 2026 were $137 million compared with $124 million for the six months ended June 30, 2025. The increase was largely driven by a higher volume of policies in force. The gross loss and loss adjustment expense ratio for the six months ended June 30, 2026 was 21.1%.
Policy acquisition and other underwriting expenses for the six months ended June 30, 2026 were $64 million compared with $58 million for the six months ended June 30, 2025. The increase was driven by a greater amount of premiums in force.
General and administrative personnel expenses for the six months ended June 30, 2026 were $46 million compared with $40 million for the six months ended June 30, 2025. The increase was driven by additional personnel, annual merit increases, and stock-based compensation.
Share Repurchase
On March 3, 2026, HCI Group announced a share repurchase program to repurchase up to $80 million of shares of HCI common stock through February 27, 2027. In the second quarter of 2026, HCI Group repurchased 363,538 shares for $57.0 million. During the first six months of 2026, HCI Group repurchased 473,609 shares for $74.5 million. The share repurchase program was completed on July 17, 2026, with a total of 504,330 shares repurchased for $80.0 million.
Conference Call
HCI Group will hold a conference call later today, August 6, 2026, to discuss these financial results. Chairman and Chief Executive Officer Paresh Patel, Chief Operating Officer Karin Coleman and Chief Financial Officer Mark Harmsworth will host the call starting at 4:45 p.m. Eastern Time.
Interested parties can listen to the live presentation by dialing the listen-only number below or by clicking the webcast link available on the Investor Information section of the company's website at www.hcigroup.com.
Listen-only toll-free number: (888) 506-0062
Listen-only international number: (973) 528-0011
Entry Code: 202996
Please call the conference telephone number 10 minutes before the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Group at (949) 574-3860.
A replay of the call will be available after 8:00 p.m. Eastern Time on the same day through August 20, 2026 and a replay of the webcast will be available on the Investor Relations section of the HCI Group website at www.hcigroup.com through August 6, 2027.
Toll-free replay number: (877) 481-4010
International replay number: (919) 882-2331
Replay ID: 54257
About HCI Group, Inc.
HCI Group, Inc. is a diversified holding company engaged in insurance, reinsurance, real estate, claims services, and insurance technology. The HCI Group portfolio of companies includes multiple property and casualty underwriters and exchanges, two captive reinsurers, a claims management business, a commercial real estate investment company and a leading insurance technology company, Exzeo Group. HCI Group was founded in 2006 and operates in 13 states.
2
HCI Group's common shares trade on the New York Stock Exchange under the ticker symbol "HCI" and are included in the Russell 2000 and S&P SmallCap 600 Index. HCI Group, Inc. regularly publishes financial and other information in the Investor Information section of the company’s website. For more information about HCI Group and its subsidiaries, visit www.hcigroup.com. Exzeo’s common shares trade on the New York Stock Exchange under the ticker symbol “XZO.” For more information about Exzeo, visit www.exzeo.com.
Forward-Looking Statements
This news release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "estimate," "expect," "intend," "plan," "confident," "prospects" 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. For example, the estimation of reserves for losses and loss adjustment expenses is an inherently imprecise process involving many assumptions and considerable management judgment. Further, future cash flow and earnings may limit HCI’s ability or willingness to engage in share buybacks. 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 events, these developments could have material adverse effects on the company's business, financial condition and results of operations. HCI Group, Inc. disclaims all obligations to update any forward-looking statements.
Company Contact:
Nat Otis
Investor Relations
HCI Group, Inc.
Tel (813) 355-5341
notis@hcigroup.com
Investor Relations Contact:
Matt Glover
Gateway Group, Inc.
Tel (949) 574-3860
HCI@gateway-grp.com
- Tables to follow -
3
HCI GROUP, INC. AND SUBSIDIARIES
Selected Financial Metrics
(Unaudited)
(In thousands, except share and per share amounts)
|
|
Three Months Ended |
|
|||||
|
|
June 30, |
|
|||||
|
|
2026 |
|
|
2025 |
|
||
Gross Written Premiums: |
|
|
|
|
|
|
||
Homeowners Choice |
|
$ |
228,208 |
|
|
$ |
227,090 |
|
TypTap Insurance Company |
|
|
110,477 |
|
|
|
110,412 |
|
Condo Owners Reciprocal Exchange |
|
|
10,848 |
|
|
|
13,830 |
|
Tailrow Reciprocal Exchange |
|
|
32,812 |
|
|
|
5,213 |
|
Total Gross Written Premiums |
|
$ |
382,345 |
|
|
$ |
356,545 |
|
|
|
|
|
|
|
|
||
Gross Premiums Earned: |
|
|
|
|
|
|
||
Homeowners Choice |
|
$ |
161,927 |
|
|
$ |
156,552 |
|
TypTap Insurance Company |
|
|
123,279 |
|
|
|
124,437 |
|
Condo Owners Reciprocal Exchange |
|
|
5,925 |
|
|
|
12,811 |
|
Tailrow Insurance Exchange |
|
|
29,693 |
|
|
|
8,828 |
|
Total Gross Premiums Earned |
|
$ |
320,824 |
|
|
$ |
302,628 |
|
|
|
|
|
|
|
|
||
Gross loss and loss adjustment expense ratio |
|
|
22.2 |
% |
|
|
21.3 |
% |
|
|
|
|
|
|
|
||
Per Share Metrics |
|
|
|
|
|
|
||
Diluted earnings per share |
|
$ |
5.60 |
|
|
$ |
5.18 |
|
|
|
|
|
|
|
|
||
Dividends per share |
|
$ |
0.40 |
|
|
$ |
0.40 |
|
|
|
|
|
|
|
|
||
Book value per share at the end of period |
|
$ |
86.60 |
|
|
$ |
58.55 |
|
|
|
|
|
|
|
|
||
Shares outstanding at the end of period |
|
|
12,469,972 |
|
|
|
12,956,884 |
|
4
HCI GROUP, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
(In thousands, except share amounts)
|
|
June 30, 2026 |
|
|
December 31, 2025 |
|
||
|
|
(Unaudited) |
|
|
|
|
||
Assets |
|
|
|
|
|
|
||
Fixed-maturity securities, available-for-sale, at fair value (amortized cost: $1,103,778 and |
|
$ |
1,091,041 |
|
|
$ |
597,329 |
|
Equity securities, at fair value (cost: $55,700 and $61,597, respectively) |
|
|
59,038 |
|
|
|
65,890 |
|
Limited partnership investments |
|
|
16,394 |
|
|
|
17,690 |
|
Real estate investments |
|
|
102,669 |
|
|
|
103,746 |
|
Other investments |
|
|
5,000 |
|
|
|
5,000 |
|
Total investments |
|
|
1,274,142 |
|
|
|
789,655 |
|
Cash and cash equivalents |
|
|
872,336 |
|
|
|
1,210,126 |
|
Restricted cash |
|
|
4,378 |
|
|
|
3,748 |
|
Income taxes receivable |
|
|
1,277 |
|
|
|
1,332 |
|
Deferred income tax assets, net |
|
|
1,088 |
|
|
|
2,237 |
|
Premiums receivable, net (allowance: $5,363 and $4,469, respectively) |
|
|
77,607 |
|
|
|
57,494 |
|
Prepaid reinsurance premiums |
|
|
— |
|
|
|
50,127 |
|
Reinsurance recoverable, net of allowance for credit losses: |
|
|
|
|
|
|
||
Paid losses and loss adjustment expenses (allowance: $0 and $0, respectively) |
|
|
26,613 |
|
|
|
27,855 |
|
Unpaid losses and loss adjustment expenses (allowance: $73 and $97, respectively) |
|
|
229,131 |
|
|
|
262,041 |
|
Deferred policy acquisition costs |
|
|
68,206 |
|
|
|
59,722 |
|
Property and equipment, net |
|
|
27,503 |
|
|
|
28,939 |
|
Intangible assets, net |
|
|
1,924 |
|
|
|
2,683 |
|
Funds withheld for assumed business |
|
|
5,346 |
|
|
|
5,254 |
|
Other assets |
|
|
58,908 |
|
|
|
27,715 |
|
Total assets |
|
$ |
2,648,459 |
|
|
$ |
2,528,928 |
|
|
|
|
|
|
|
|
||
Liabilities, Redeemable Noncontrolling Interests and Equity |
|
|
|
|
|
|
||
Losses and loss adjustment expenses |
|
$ |
558,982 |
|
|
$ |
576,495 |
|
Unearned premiums |
|
|
659,335 |
|
|
|
643,328 |
|
Advance premiums |
|
|
44,440 |
|
|
|
19,302 |
|
Ceded reinsurance premiums payable |
|
|
34,772 |
|
|
|
27,591 |
|
Assumed premiums payable |
|
|
4,049 |
|
|
|
1,744 |
|
Income taxes payable |
|
|
16,467 |
|
|
|
12,782 |
|
Deferred income tax liabilities, net |
|
|
1,001 |
|
|
|
3,814 |
|
Revolving credit facility |
|
|
36,000 |
|
|
|
36,000 |
|
Long-term debt |
|
|
31,465 |
|
|
|
31,877 |
|
Accrued expenses and other liabilities |
|
|
82,887 |
|
|
|
61,351 |
|
Total liabilities |
|
|
1,469,398 |
|
|
|
1,414,284 |
|
Commitments and contingencies |
|
|
|
|
|
|
||
Redeemable noncontrolling interests |
|
|
5,929 |
|
|
|
3,359 |
|
Equity: |
|
|
|
|
|
|
||
Common stock, (no par value, 40,000,000 shares authorized, 12,469,972 and 12,992,147 |
|
|
— |
|
|
|
— |
|
Additional paid-in capital |
|
|
340,854 |
|
|
|
428,109 |
|
Retained earnings |
|
|
748,437 |
|
|
|
611,509 |
|
Accumulated other comprehensive (loss) income |
|
|
(9,382 |
) |
|
|
1,459 |
|
Total stockholders' equity |
|
|
1,079,909 |
|
|
|
1,041,077 |
|
Noncontrolling interests |
|
|
93,223 |
|
|
|
70,208 |
|
Total equity |
|
|
1,173,132 |
|
|
|
1,111,285 |
|
Total liabilities, redeemable noncontrolling interests and equity |
|
$ |
2,648,459 |
|
|
$ |
2,528,928 |
|
5
HCI GROUP, INC. AND SUBSIDIARIES
Consolidated Statements of Income
(Unaudited)
(In thousands, except per share amounts)
|
|
Three Months Ended |
|
|
Six Months Ended |
|
||||||||||
|
|
June 30, |
|
|
June 30, |
|
||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||
Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Gross premiums earned |
|
$ |
320,824 |
|
|
$ |
302,628 |
|
|
$ |
647,030 |
|
|
$ |
603,011 |
|
Premiums ceded |
|
|
(101,812 |
) |
|
|
(102,522 |
) |
|
|
(205,867 |
) |
|
|
(202,157 |
) |
Net premiums earned |
|
|
219,012 |
|
|
|
200,106 |
|
|
|
441,163 |
|
|
|
400,854 |
|
Net investment income |
|
|
18,890 |
|
|
|
16,445 |
|
|
|
36,191 |
|
|
|
30,196 |
|
Net realized investment gains |
|
|
1,222 |
|
|
|
155 |
|
|
|
1,756 |
|
|
|
1,322 |
|
Net unrealized investment gains (losses) |
|
|
743 |
|
|
|
1,180 |
|
|
|
(955 |
) |
|
|
(726 |
) |
Policy fee income |
|
|
1,651 |
|
|
|
1,467 |
|
|
|
3,227 |
|
|
|
3,696 |
|
Other |
|
|
5,135 |
|
|
|
2,567 |
|
|
|
8,153 |
|
|
|
3,011 |
|
Total revenue |
|
|
246,653 |
|
|
|
221,920 |
|
|
|
489,535 |
|
|
|
438,353 |
|
Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Losses and loss adjustment expenses |
|
|
71,076 |
|
|
|
64,457 |
|
|
|
136,676 |
|
|
|
123,748 |
|
Policy acquisition and other underwriting expenses |
|
|
32,346 |
|
|
|
30,551 |
|
|
|
64,116 |
|
|
|
57,838 |
|
General and administrative personnel expenses |
|
|
23,948 |
|
|
|
19,985 |
|
|
|
46,301 |
|
|
|
40,468 |
|
Interest expense |
|
|
1,084 |
|
|
|
3,744 |
|
|
|
2,007 |
|
|
|
7,128 |
|
Other operating expenses |
|
|
7,226 |
|
|
|
8,791 |
|
|
|
14,078 |
|
|
|
14,440 |
|
Total expenses |
|
|
135,680 |
|
|
|
127,528 |
|
|
|
263,178 |
|
|
|
243,622 |
|
Income before income taxes |
|
|
110,973 |
|
|
|
94,392 |
|
|
|
226,357 |
|
|
|
194,731 |
|
Income tax expense |
|
|
28,073 |
|
|
|
24,113 |
|
|
|
58,414 |
|
|
|
50,222 |
|
Net income |
|
$ |
82,900 |
|
|
$ |
70,279 |
|
|
$ |
167,943 |
|
|
$ |
144,509 |
|
Net income attributable to noncontrolling interests |
|
|
(9,103 |
) |
|
|
(4,119 |
) |
|
|
(20,739 |
) |
|
|
(8,665 |
) |
Net income after noncontrolling interests |
|
$ |
73,797 |
|
|
$ |
66,160 |
|
|
$ |
147,204 |
|
|
$ |
135,844 |
|
Basic earnings per share |
|
$ |
5.78 |
|
|
$ |
5.57 |
|
|
$ |
11.39 |
|
|
$ |
12.00 |
|
Diluted earnings per share |
|
$ |
5.60 |
|
|
$ |
5.18 |
|
|
$ |
11.05 |
|
|
$ |
10.57 |
|
Dividends per share |
|
$ |
0.40 |
|
|
$ |
0.40 |
|
|
$ |
0.80 |
|
|
$ |
0.80 |
|
6
HCI GROUP, INC. AND SUBSIDIARIES
Earnings Per Share
(Unaudited)
(In thousands, except per share amounts)
The computations of basic and diluted earnings per share for the periods presented were as follows:
|
|
Three Months Ended |
|
|
Six Months Ended |
|
||||||||||||||||||
|
|
June 30, 2026 |
|
|
June 30, 2026 |
|
||||||||||||||||||
|
|
Income |
|
|
Shares |
|
|
Per Share |
|
|
Income |
|
|
Shares |
|
|
Per Share |
|
||||||
|
|
(Numerator) |
|
|
(Denominator) |
|
|
Amount |
|
|
(Numerator) |
|
|
(Denominator) |
|
|
Amount |
|
||||||
Net income |
|
$ |
82,900 |
|
|
|
|
|
|
|
|
$ |
167,943 |
|
|
|
|
|
|
|
||||
Less: Net income attributable to |
|
|
(9,103 |
) |
|
|
|
|
|
|
|
|
(20,739 |
) |
|
|
|
|
|
|
||||
Net income after noncontrolling |
|
|
73,797 |
|
|
|
|
|
|
|
|
|
147,204 |
|
|
|
|
|
|
|
||||
Less: Income attributable to |
|
|
(2,925 |
) |
|
|
|
|
|
|
|
|
(6,186 |
) |
|
|
|
|
|
|
||||
Basic Earnings Per Share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Income attributable to common |
|
|
70,872 |
|
|
|
12,269 |
|
|
$ |
5.78 |
|
|
|
141,018 |
|
|
|
12,379 |
|
|
$ |
11.39 |
|
Effect of Dilutive Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Stock options |
|
|
— |
|
|
|
382 |
|
|
|
|
|
|
— |
|
|
|
390 |
|
|
|
|
||
Warrants |
|
|
— |
|
|
|
7 |
|
|
|
|
|
|
— |
|
|
|
7 |
|
|
|
|
||
Net impact from reallocation of |
|
|
65 |
|
|
|
— |
|
|
|
|
|
|
143 |
|
|
|
— |
|
|
|
|
||
Diluted Earnings Per Share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Income attributable to common |
|
$ |
70,937 |
|
|
|
12,658 |
|
|
$ |
5.60 |
|
|
$ |
141,161 |
|
|
|
12,776 |
|
|
$ |
11.05 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|||||||||||||||||||||||
7