American Coastal: Fourth Quarter Earnings Overview

American Coastal Insurance Corporation Announces Q4 Financial Results

American Coastal Insurance Corporation, headquartered in Saint Petersburg, Florida, reported a net income of $26.6 million for the fourth quarter.

The company’s earnings translated to 53 cents per share, while adjusted earnings, which exclude one-time gains, stood at 51 cents per share.

During the quarter, the property and casualty insurer generated $86.4 million in revenue.

For the full year, American Coastal Insurance Corporation recorded a profit of $106.8 million, or $2.15 per share, on total revenue of $335.4 million.

Since the start of the year, the company’s stock price has declined by 12%. As of the close of trading on Thursday, shares were valued at $11.13, reflecting a 17% decrease over the past year.