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.
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 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.
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.
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.
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 this article 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.