Hawaiian Electric Industries Inc. Third Quarter Earnings Sneak Peek

Hawaiian Electric Industries, Inc. (NYSE:HE) will unveil its latest earnings on Thursday, November 3, 2011. Hawaiian Electric Industries 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 43 cents per share, a rise of 22.9% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month. Analysts are projecting profit to rise by 16.5% versus last year to $1.41.

Past Earnings Performance: Last quarter, the company fell short of estimates by 5 cents, coming in at net income of 28 cents a share versus the estimate of profit of 33 cents a share. It was the fourth straight quarter of missing estimates.

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Wall St. Revenue Expectations: On average, analysts predict $751.5 million in revenue this quarter, a rise of 8.2% from the year ago quarter. Analysts are forecasting total revenue of $2.8 billion for the year, a rise of 5.3% 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.

A Look Back: In the second quarter, profit fell 7.1% to $27.6 million (28 cents a share) from $29.7 million (31 cents a share) the year earlier, missing analyst expectations. Revenue rose 21.1% to $794.3 million from $655.7 million.

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 15.1%, with the biggest boost coming in the most recent quarter when revenue rose 21.1% from the year earlier quarter.

The decrease in profit in the second quarter broke a streak of two consecutive quarters of year-over-year profit increases. Net income rose 4.8% in the first quarter and more than twofold in the fourth quarter of the last fiscal year.

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 August 4, 2011 to October 28, 2011, the stock price had risen $3.65 (16.6%) from $21.99 to $25.64. It saw one of its worst periods between July 21, 2011 and August 4, 2011 when shares fell for 11-straight days, falling 10.4% (-$2.55) over that span. 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% (+$1.06) over that span. Shares are up $3.72 (+17%) year to date.

(Source: Xignite Financials)

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