Hawaiian Electric Industries, Inc. Second Quarter Earnings Sneak Peek

Hawaiian Electric Industries, Inc. (NASDAQ:HE) will unveil its latest earnings on Wednesday, August 3, 2011. Hawaiian Electric Industries, Inc. is a holding company, which through its subsidiaries is engaged in electric utility, banking and other businesses operating mainly in the State of Hawaii.

Hawaiian Electric Industries, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 33 cents per share, a rise of 6.5% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 35 cents. Between one and three months ago, the average estimate was unchanged, but has since dropped during the last month. For the year, analysts are projecting net income of $1.46 per share, a rise of 20.7% from last year.

Past Earnings Performance: For the past three quarters, the company’s quarterly results have come in below analyst’s expectations. Last quarter, the company reported profit of 30 cents per share versus a mean estimate of net income of 31 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $691.2 million in revenue this quarter, a rise of 5.4% from the year ago quarter. Analysts are forecasting total revenue of $2.81 billion for the year, a rise of 5.6% from last year’s revenue of $2.66 billion.

Analyst Ratings: Analysts seem relatively indifferent about Hawaiian Electric Industries with three of five analysts surveyed maintaining a hold rating.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 15.9%, with the biggest boost coming in the second quarter of the last fiscal year when revenue rose 24.7% from the year earlier quarter.

The company has now been profitable for the last eight quarters, and for the last four, profit has risen year over year by an average of 48.5%. The quarter with the biggest boost was the fourth quarter of the last fiscal year, which saw a more than twofold surge.

Competitors to Watch: Edison International (NYSE:EIX), Portland General Electric Co. (NYSE:POR), PG&E Corporation (NYSE:PCG), IDACORP, Inc. (NYSE:IDA), NV Energy, Inc. (NYSE:NVE), UniSource Energy Corp. (NYSE:UNS), PNM Resources, Inc. (NYSE:PNM), Pinnacle West Capital Corp. (NYSE:PNW), and The AES Corporation (NYSE:AES).

Stock Price Performance: During May 3, 2011 to July 28, 2011, the stock price had fallen $1.76 (-6.9%) from $25.51 to $23.75. The stock price saw one of its best stretches over the last year between June 23, 2011 and July 1, 2011 when shares rose for seven-straight days, rising 4.6% (+$1.07) over that span. It saw one of its worst periods between September 1, 2010 and September 10, 2010 when shares fell for seven-straight days, falling 5.7% (-$1.34) over that span. Shares are up $1.51 (+6.8%) year to date.

(Source: Xignite Financials)

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