Hawaiian Electric Industries Q4 Profit Rises - Quick Facts

(RTTNews) - Hawaiian Electric Industries Inc. (HE) reported that its fourth quarter of 2021 net income for common stock rose to $54.5 million or $0.50 per share from $50.5 million or $0.46 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.42 per share for the fourth quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter were $770.27 million up from $652.22 million in the previous year.

The company pledged to cut carbon emissions from power generation 70% by 2030, compared to a 2005 baseline, and achieve or exceed carbon neutrality by 2045.

Hawaiian Electric's net income for the fourth quarter of 2021 was $42.0 million, compared to $43.0 million in the fourth quarter of 2020.

On February 11, 2022, HEI announced that the Board of Directors increased the quarterly cash dividend to $0.35 per share from $0.34 per share, payable on March 10, 2022 to shareholders of record at the close of business on February 24, 2022.