Hawaiian Electric Industries
The 10-second takeaway
For the quarter ended June 30 (Q2), Hawaiian Electric Industries beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share expanded significantly.
Margins expanded across the board.
Hawaiian Electric Industries notched revenue of $854.3 million. The three analysts polled by S&P Capital IQ predicted revenue of $803.8 million on the same basis. GAAP reported sales were 7.5% higher than the prior-year quarter's $794.3 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 $0.35 per share. GAAP EPS of $0.40 for Q2 were 43% higher than the prior-year quarter's $0.28 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%, 150 basis points better than the prior-year quarter. Operating margin was 9.3%, 130 basis points better than the prior-year quarter. Net margin was 4.5%, 110 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $933.2 million. On the bottom line, the average EPS estimate is $0.54.
Next year's average estimate for revenue is $3.28 billion. The average EPS estimate is $1.62.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 156 members out of 180 rating the stock outperform, and 24 members rating it underperform. Among 49 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 45 give Hawaiian Electric Industries a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Hawaiian Electric Industries is underperform, with an average price target of $25.93.
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