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Mar 31, 2022
Hawaiian Electric Q1 2022 Earnings Report
Hawaiian Electric Industries reported consolidated net income for common stock for the first quarter of $69.2 million and EPS of $0.63.
Key Takeaways
Hawaiian Electric Industries reported a solid first quarter with net income of $69.2 million and EPS of $0.63. The utility is performing well under the new performance-based regulation framework and progressing climate action goals. Bank results reflect solid credit quality, stable net interest margin, and an improving bank environment.
Consolidated net income for the first quarter of 2022 was $69.2 million, with EPS at $0.63.
Hawaiian Electric Company's net income was $46.4 million, driven by higher Annual Revenue Adjustment revenues and other factors.
American Savings Bank's net income was $23.9 million, with an increase compared to the linked quarter due to higher noninterest income and lower noninterest expense.
The holding and other companies reported a net loss of $1.1 million, primarily due to a gain on sale of an equity-method investment at Pacific Current.
Hawaiian Electric
Hawaiian Electric
Hawaiian Electric Revenue by Segment
Revenue by Segment
Electric Utility Revenue
CapyFin.comOther Segment Revenue
CapyFin.com Forward Guidance
HEI will conduct a webcast and conference call to review its consolidated results and 2022 earnings guidance and outlook on Monday, May 9, 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income