Hawaiian Electric (HE) Q1 Earnings Beat, Revenues Up Y/Y
Zacks Investment Research | May 07, 2019 11:15PM ET
Hawaiian Electric Industries Inc. (NYSE:HE) reported earnings per share (EPS) of 42 cents in the first quarter of 2019, which surpassed the Zacks Consensus Estimate of 39 cents by 7.7%. The bottom line also improved 13.5% from 37 cents registered in the prior-year quarter. Solid revenues and operating income in the quarter under review led to the uptick.
Total Revenues
Hawaiian Electric’s total revenues of $661.6 million in the first quarter outpaced the Zacks Consensus Estimate of $579 million by 14.3% and also rose 2.4% year over year. The improvement can be attributed to increased contributions from both the Electric Utility and Bank segments.
Operating Statistics
Total expenses increased 1.7% year over year to $538.7 million during the first quarter.
However, total operating income rose 8.4% year over year to $77.9 million driven by higher contributions from both the Electric Utility and Bank segments.
Net interest expenses amounted to $23.1 million, up from $21.5 million in the prior-year quarter.
Hawaiian Electric Industries, Inc. Price, Consensus and EPS Surprise
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