Hawaiian Electric Industries Beats on Both Top and Bottom Lines

Hawaiian Electric Industries (NYS: HE) reported earnings on May 9. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Hawaiian Electric Industries beat expectations on revenues and earnings per share.

Compared with the prior-year quarter, revenue improved and GAAP earnings per share expanded significantly.

Margins increased across the board.

Revenue details
Hawaiian Electric Industries booked revenue of $814.9 million. The three analysts polled by S&P Capital IQ looked for revenue of $763.6 million on the same basis. GAAP reported sales were 15% higher than the prior-year quarter's $710.6 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.40. The four earnings estimates compiled by S&P Capital IQ predicted $0.36 per share. GAAP EPS of $0.40 for Q1 were 33% higher than the prior-year quarter's $0.30 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 9.8%, 40 basis points better than the prior-year quarter. Operating margin was 9.3%, 40 basis points better than the prior-year quarter. Net margin was 4.7%, 70 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $776.2 million. On the bottom line, the average EPS estimate is $0.33.

Next year's average estimate for revenue is $3.32 billion. The average EPS estimate is $1.60.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 148 members out of 174 rating the stock outperform, and 26 members rating it underperform. Among 43 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 40 give Hawaiian Electric Industries a green thumbs-up, and three give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Hawaiian Electric Industries is hold, with an average price target of $25.21.

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At the time thisarticle was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings. He is the co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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