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Jun 30, 2022
Hawaiian Electric Q2 2022 Earnings Report
Hawaiian Electric Industries reported consolidated net income for common stock for the second quarter of 2022 with solid performance across the enterprise.
Key Takeaways
Hawaiian Electric Industries reported a net income of $52.5 million and EPS of $0.48 for Q2 2022, compared to $63.9 million and EPS of $0.58 for Q2 2021. The decrease in net income was primarily attributed to the prior year's negative provision for credit losses at American Savings Bank and a return to a more normalized provision expense due to strong loan growth.
Utility continues to execute well under performance-based regulation, focusing on cost control.
Higher maintenance expenses due to acceleration of work on generating units to reduce downtimes.
Bank results reflect good execution, driven by a more normalized provision compared to recent periods.
Bank saw strong loan growth during the quarter, and credit quality is trending favorably.
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, August 8, 2022 at 10:15 a.m. Hawaii time (4:15 p.m. Eastern).
Revenue & Expenses
Visualization of income flow from segment revenue to net income