Hawaiian Electric Industries Inc. Announces Amendment to Loan Agreement
Oct 9 15
Hawaiian Electric Industries Inc. announced that Amendment is made as of October 8, 2015 by the company and the financial institutions listed on the signature pages hereof and The Bank of Tokyo-Mitsubishi UFJ Ltd., as administrative agent, under that certain Loan Agreement dated as of May 2, 2014 by and among the Borrower, the Lenders and the Administrative Agent. Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given to them in the Loan Agreement.
Hawaiian Electric Industries Inc. Presents at Barclays CEO Energy-Power Conference 2015, Sep-08-2015
Sep 5 15
Hawaiian Electric Industries Inc. Presents at Barclays CEO Energy-Power Conference 2015, Sep-08-2015 . Venue: Sheraton New York Times Square Hotel, 811 7th Avenue, New York, NY 10019, New York, United States.
Hawaiian Electric Industries, Inc. Declares Quarterly Dividend, Payable on September 10, 2015
Aug 10 15
On August 7, 2015, the board of directors maintained Hawaiian Electric Industries Inc.'s quarterly cash dividend of 0.31 cents per share, payable on September 10, 2015, to shareholders of record at the close of business on August 24, 2015 and the ex-dividend date is August 20, 2015. The dividend is equivalent to an annual rate of $1.24 per share.
Hawaiian Electric Industries Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reaffirms Earnings Guidance for the Year 2015
Aug 10 15
Hawaiian Electric Industries Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenues of $623,912,000 compared to $798,657,000 a year ago. Total operating income was $72,730,000 compared to $83,183,000 a year ago. Income before income taxes was $56,402,000 compared to $65,071,000 a year ago. Net income for common stock was $35,018,000 or $0.33 per basic and diluted common share compared to $41,281,000 or $0.41 per basic and diluted common share a year ago. Core earnings per share, which excluded merger expenses, were $0.39 compared to $0.41 in the second quarter of 2014. Consolidated core net income was $0.9 million higher than the prior year, but EPS was $0.02 lower due to the increased number of shares settled through the equity forward agreement. Utility earnings were $32.8 million in the second quarter of 2015 compared to $34.2 million in the second quarter of 2014. Net income was primarily driven by higher interest-earning assets and fees related to the early payoff of commercial loans.
For the six months, the company reported total revenues of $1,261,774,000 compared to $1,582,406,000 a year ago. Total operating income was $142,236,000 compared to $172,397,000 a year ago. Income before income taxes was $108,720,000 compared to $137,052,000 a year ago. Net income for common stock was $66,884,000 or $0.63 per basic and diluted common share compared to $87,068,000 or $0.85 per diluted common share a year ago. Net cash provided by operating activities was $104,303,000 compared to $46,195,000 a year ago. Capital expenditures were $142,236,000 compared to $149,253,000 a year ago.
The company is reaffirming earnings guidance of $1.64 to $1.74 per share excluding any expenses relating to the pending merger and spinoff transactions. The 2015 impact of the dilution of the early equity forward settlement is approximately $0.04 a share. At the utility, there is no change to the EPS guidance range, but they are guiding toward the lower end of that range. To offset the impact of the PUC's May 28 decoupling order, the company is carefully managing expenses, and revising O&M guidance to approximately a 2% decline compared to 2014 levels instead of prior guidance of a 2% increase. The company lowered the 2015 CapEx to $250 million from $420 million, and correspondingly, revised 3-year forecast range of $0.8 billion to $1.7 billion. The 2015 the rate base growth is now expected to be 1.5% to 3%.
Hawaiian Electric Industries Inc. to Report Q2, 2015 Results on Aug 10, 2015
Jul 14 15
Hawaiian Electric Industries Inc. announced that they will report Q2, 2015 results at 5:00 PM, US Eastern Standard Time on Aug 10, 2015