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TAMPA — HCI Group Inc. was ranked second on Fortune's list of 100 Fastest-Growing Companies for 2014. The ranking is based on average revenue growth, profit growth, and relative stock performance over the past three years.
Fortune reports that HCI Group achieved an average annual growth rate of 58% on revenue growth, 100% earnings per share growth and 91% annualized total return over the three-year period ending June 30. HCI was ranked 13th on Fortune's List of 100 fastest-growing companies last year.
HCI was the only Gulf Coast company to make the list and the best ranked of the four Florida companies on the ranking. The other Florida companies were Lennar of Miami, Ultimate Software Group of Weston and Dycom Industries of Palm Beach Gardens.
Paresh Patel, HCI Group's chairman and CEO, attributed the ranking to the strong performance of firm's core property and casualty insurance business.
To qualify for the Fortune 100 list, a company's stock must trade on a major U.S. stock exchange with a minimum market capitalization of $250 million and a stock price of at least $5 per share as of June 30. Qualifying companies must also have revenue and net income for the four quarters ended on or before April 30 of at least $50 million and $10 million, respectively, and annualized growth in revenue and earnings per share of at least 20% annually over the past three years.
The full list of Fortune's 100 fastest-growing companies is available here.
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