Hawaiian Electric Industries (HE - Free Report) reported adjusted earnings per share (EPS) of 43 cents in fourth-quarter 2017, which surpassed the Zacks Consensus Estimate of 41 cents by 4.9%. On a year-over-year basis, adjusted earnings improved 4.9% from the prior-year quarter’s 41 cents.
GAAP earnings were 30 cents in the quarter, reflecting a 26.8% decline from the year-ago 41 cents.
For 2017, the company reported EPS of $1.65, which surpassed the Zacks Consensus Estimate by a penny. On a year-over-year basis, adjusted earnings declined 5.7% from the prior-year level of $1.75.
Total Revenues
Total revenues of $658.6 million surpassed the Zacks Consensus Estimate of $620 million by 6.2% and were also up 6.7% year over year. The top line improved on higher contributions from all three segments of the company.
Operating Statistics
Total expenses were up 8.4% year over year to $573.6 million in the fourth quarter.
Total operating income was $85 million, down 3.9% due to lower contributions from the Bank as well as Electric Utility segments.
Net interest expenses amounted to $19.7 million, up from $19 million in the prior-year quarter.
Segment Details
Electric Utility: Revenues in the reported quarter were $583.3 million, up 7.1% year over year. Net income dropped 25.7% to $25.4 million from $34.1 million a year ago.
Banking: Revenues were $75.2 million, up 3.5%. Net income came in at $16.9 million, up 4%.
Other: Revenues were $0.1 million, up 20% year over year. However, it incurred a quarterly net loss of approximately $9.8 million compared with the year-ago loss of $5.7 million.
Guidance
Hawaiian Electric issued its 2018 guidance. The company expects EPS in the range of $1.80-$2.00.
Moreover, for the Electric Utility segment, it projects EPS in the band of $1.33-$1.46, while the same for the Bank segment is in the range of 68-74 cents.
Zacks Rank
Hawaiian Electric carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Peer Releases
CMS Energy (CMS - Free Report) reported fourth-quarter 2017 adjusted earnings per share of 51 cents, which were in line with the Zacks Consensus Estimate.
NextEra Energy (NEE - Free Report) posted fourth-quarter 2017 adjusted earnings of $1.25 per share, lagging the Zacks Consensus Estimate of $1.31 by 4.6%.
Dominion Energy (D - Free Report) reported fourth-quarter 2017 operating earnings of 91 cents per share, beating the Zacks Consensus Estimate of 88 cents by 3.4%.
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Hawaiian Electric Industries (HE - Free Report) reported adjusted earnings per share (EPS) of 43 cents in fourth-quarter 2017, which surpassed the Zacks Consensus Estimate of 41 cents by 4.9%. On a year-over-year basis, adjusted earnings improved 4.9% from the prior-year quarter’s 41 cents.
GAAP earnings were 30 cents in the quarter, reflecting a 26.8% decline from the year-ago 41 cents.
For 2017, the company reported EPS of $1.65, which surpassed the Zacks Consensus Estimate by a penny. On a year-over-year basis, adjusted earnings declined 5.7% from the prior-year level of $1.75.
Total Revenues
Total revenues of $658.6 million surpassed the Zacks Consensus Estimate of $620 million by 6.2% and were also up 6.7% year over year. The top line improved on higher contributions from all three segments of the company.
Operating Statistics
Total expenses were up 8.4% year over year to $573.6 million in the fourth quarter.
Total operating income was $85 million, down 3.9% due to lower contributions from the Bank as well as Electric Utility segments.
Net interest expenses amounted to $19.7 million, up from $19 million in the prior-year quarter.
Segment Details
Electric Utility: Revenues in the reported quarter were $583.3 million, up 7.1% year over year. Net income dropped 25.7% to $25.4 million from $34.1 million a year ago.
Banking: Revenues were $75.2 million, up 3.5%. Net income came in at $16.9 million, up 4%.
Other: Revenues were $0.1 million, up 20% year over year. However, it incurred a quarterly net loss of approximately $9.8 million compared with the year-ago loss of $5.7 million.
Guidance
Hawaiian Electric issued its 2018 guidance. The company expects EPS in the range of $1.80-$2.00.
Moreover, for the Electric Utility segment, it projects EPS in the band of $1.33-$1.46, while the same for the Bank segment is in the range of 68-74 cents.
Zacks Rank
Hawaiian Electric carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Peer Releases
CMS Energy (CMS - Free Report) reported fourth-quarter 2017 adjusted earnings per share of 51 cents, which were in line with the Zacks Consensus Estimate.
NextEra Energy (NEE - Free Report) posted fourth-quarter 2017 adjusted earnings of $1.25 per share, lagging the Zacks Consensus Estimate of $1.31 by 4.6%.
Dominion Energy (D - Free Report) reported fourth-quarter 2017 operating earnings of 91 cents per share, beating the Zacks Consensus Estimate of 88 cents by 3.4%.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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