Hawaiian Electric Industries (HE) Tops Q1 EPS by 4c, Revenues Beat

Hawaiian Electric Industries (NYSE: HE) reported Q1 EPS of $0.42, $0.04 better than the analyst estimate of $0.38. Revenue for the quarter came in at $661.62 million versus the consensus estimate of $563.95 million.

"We are pleased to report solid earnings for the first quarter of 2019 from both our bank and utility," said Constance H. Lau, president and CEO of HEI.

"In the first quarter, the Public Utilities Commission approved in record time six renewable power purchase agreements that will bring a significant amount of solar-plus-battery-storage projects onto our grids on Oahu, Maui and Hawaii Island. The cooperation among the energy stakeholders, regulators, customers and our companies has continued to keep Hawaii at the forefront of greening our environment while providing reliable, resilient and more affordable electricity for our customers and our economy."

"At American Savings Bank, in addition to continued healthy performance in the first quarter, the bank is completing the consolidation of its team into its new ASB Campus, which offers new opportunities for the team to work better together for customers and realize operational effectiveness and cost efficiencies," said Lau.

For earnings history and earnings-related data on Hawaiian Electric Industries (HE) click here.

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