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Hawaiian Electric Industries Beats on Both Top and Bottom Lines

By Seth Jayson - Updated Apr 7, 2017 at 11:50AM

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Just the facts, Fool.

Hawaiian Electric Industries (NYSE: HE) reported earnings on Nov. 8. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Hawaiian Electric Industries beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue dropped slightly and GAAP earnings per share dropped.

Gross margins were steady, operating margins contracted, net margins were steady.

Revenue details
Hawaiian Electric Industries reported revenue of $867.7 million. The three analysts polled by S&P Capital IQ expected sales of $849.2 million on the same basis. GAAP reported sales were 2.1% lower than the prior-year quarter's $886.4 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 $0.49. The four earnings estimates compiled by S&P Capital IQ averaged $0.42 per share. GAAP EPS of $0.49 for Q3 were 2.0% lower than the prior-year quarter's $0.50 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 11.1%, about the same as the prior-year quarter. Operating margin was 10.6%, 10 basis points worse than the prior-year quarter. Net margin was 5.5%, about the same as the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $846.5 million. On the bottom line, the average EPS estimate is $0.38.

Next year's average estimate for revenue is $3.41 billion. The average EPS estimate is $1.59.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 154 members out of 179 rating the stock outperform, and 25 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 hold, with an average price target of $26.36.

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Stocks Mentioned

Hawaiian Electric Industries, Inc. Stock Quote
Hawaiian Electric Industries, Inc.
HE
$40.46 (1.48%) $0.59

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