American Coastal Insurance Corporation reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 79.3 million compared to USD 63.91 million a year ago. Net income was USD 17.78 million compared to net loss of USD 69.03 million a year ago. Basic earnings per share from continuing operations was USD 0.48 compared to basic loss per share from continuing operations of USD 0.31 a year ago. Diluted earnings per share from continuing operations was USD 0.47 compared to diluted loss per share from continuing operations of USD 0.31 a year ago. Basic earnings per share was USD 0.42 compared to basic loss per share of USD 1.6 a year ago. Diluted earnings per share was USD 0.41 compared to diluted loss per share of USD 1.6 a year ago.
For the six months, revenue was USD 169.62 million compared to USD 122.34 million a year ago. Net income was USD 285.06 million compared to net loss of USD 102.2 million a year ago. Basic earnings per share from continuing operations was USD 1.16 compared to basic loss per share from continuing operations of USD 0.31 a year ago. Diluted earnings per share from continuing operations was USD 1.16 compared to diluted loss per share from continuing operations of USD 0.31 a year ago. Basic earnings per share was USD 6.59 compared to basic loss per share of USD 2.37 a year ago. Diluted earnings per share was USD 6.52 compared to diluted loss per share of USD 2.37 a year ago.