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Mar 31, 2023
Hawaiian Electric Q1 2023 Earnings Report
Hawaiian Electric Industries reported consolidated net income of $54.7 million and EPS of $0.50 for Q1 2023.
Key Takeaways
Hawaiian Electric Industries reported a net income of $54.7 million and EPS of $0.50 for the first quarter of 2023. The results reflect good execution across the enterprise, with the bank's low-risk business model and the stability of Hawaii's banking market contributing to the performance. The utility also performed well, growing net income compared to the first quarter of last year.
Consolidated net income for Q1 2023 was $54.7 million, with EPS at $0.50.
American Savings Bank (ASB) delivered solid results, with net income growing over the previous quarter to $18.6 million.
Hawaiian Electric Company's net income for Q1 2023 was $47.0 million, compared to $46.4 million in Q1 2022.
The holding and other companies reported a net loss of $10.9 million in Q1 2023.
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