We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why Is HEI (HE) Down 12.2% Since Last Earnings Report?
Read MoreHide Full Article
It has been about a month since the last earnings report for Hawaiian Electric (HE - Free Report) . Shares have lost about 12.2% in that time frame, outperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is HEI due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Hawaiian Electric Q4 Earnings Improve, Revenues Fall Y/Y
Hawaiian Electric reported earnings per share (EPS) of 61 cents for the fourth quarter of 2019, which improved 35.6% from 45 cents in the prior-year quarter.
The year-over-year upside can be attributed to higher noninterest income, largely related to the sales of former properties.
For 2019, the company posted EPS of $1.99, up 7.7% from the year-ago number of $1.85.
Total Revenues
Hawaiian Electric’s total revenues of $726 million in the fourth quarter declined 4.7% year over year. The decline was due to lower contributions from both the Electric Utility and Bank segments.
For 2019, the company recorded revenues of $2.87 billion, which rose 0.5% from the year-ago number of $2.86 billion.
Operating Statistics
Total expenses decreased 7.7% year over year to $625.2 million during the fourth quarter.
Total operating income improved 19% year over year to $100.8 million driven by higher contributions from the Electric Utility as well as Bank segments.
Net interest expenses amounted to $21.8 million, down from $22.6 million in the prior-year quarter.
Segment Details
Electric Utility: Revenues at this segment totaled $645.3 million, down 5.2% year over year. Also, net income increased 28.5% to $45.4 million from $35.3 million a year ago.
Banking: At this segment, revenues totaled $80.6 million, down 0.8% year over year. Net income came in at $28.2 million, up 29.7%.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why Is HEI (HE) Down 12.2% Since Last Earnings Report?
It has been about a month since the last earnings report for Hawaiian Electric (HE - Free Report) . Shares have lost about 12.2% in that time frame, outperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is HEI due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Hawaiian Electric Q4 Earnings Improve, Revenues Fall Y/Y
Hawaiian Electric reported earnings per share (EPS) of 61 cents for the fourth quarter of 2019, which improved 35.6% from 45 cents in the prior-year quarter.
The year-over-year upside can be attributed to higher noninterest income, largely related to the sales of former properties.
For 2019, the company posted EPS of $1.99, up 7.7% from the year-ago number of $1.85.
Total Revenues
Hawaiian Electric’s total revenues of $726 million in the fourth quarter declined 4.7% year over year. The decline was due to lower contributions from both the Electric Utility and Bank segments.
For 2019, the company recorded revenues of $2.87 billion, which rose 0.5% from the year-ago number of $2.86 billion.
Operating Statistics
Total expenses decreased 7.7% year over year to $625.2 million during the fourth quarter.
Total operating income improved 19% year over year to $100.8 million driven by higher contributions from the Electric Utility as well as Bank segments.
Net interest expenses amounted to $21.8 million, down from $22.6 million in the prior-year quarter.
Segment Details
Electric Utility: Revenues at this segment totaled $645.3 million, down 5.2% year over year. Also, net income increased 28.5% to $45.4 million from $35.3 million a year ago.
Banking: At this segment, revenues totaled $80.6 million, down 0.8% year over year. Net income came in at $28.2 million, up 29.7%.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.