Hawaiian Electric Industries (HE) Releases Earnings Results, Beats Expectations By $0.03 EPS

Hawaiian Electric Industries (HE) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.43 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.40. The company posted revenue of $566.24 million in the period, compared to analysts expectations of $622.85 million. The company’s revenue was down -9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.

Hawaiian Electric Industries closed down -0.26 points or -0.84% at $30.51 with 5,63,897 shares getting traded on Tusday. Post opening the session at $30.76, the shares hit an intraday low of $30.41 and an intraday high of $30.84 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

Hawaiian Electric Industries Inc. (HEI) is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Company operates through two segments: Electric utility and Bank. The Company operates its electric utility business through Hawaiian Electric Company Inc. (Hawaiian Electric) and its wholly owned subsidiaries Hawaii Electric Light Company Inc. (Hawaii Electric Light) and Maui Electric Company Limited (Maui Electric). The Electric utility segment is involved in the business of generating purchasing transmitting distributing and selling electric energy on all principal islands in Hawaii other than Kauai and operates on five separate grids. The Company operates its Bank segment through its bank subsidiaries ASB Hawaii Inc. (ASB Hawaii) and American Savings Bank F.S.B. (ASB). ASB provides a range of banking and other financial services to consumers and businesses.

Hawaiian Electric Industries

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