Hawaiian Electric Industries Inc. (HE) released its first quarter results on Monday, May 10, 2021. The company reported net earnings of $0.59 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 92 percent compared to the same period a year ago.
Hawaiian Electric Industries Inc. was founded in 1891 and is headquartered in Honolulu, Hawaii. Hawaiian Electric Industries, Inc., through its subsidiaries, engages in the electric utility, banking, and renewable/sustainable infrastructure investment businesses in the state of Hawaii. It operates in three segments: Electric Utility, Bank, and Other.
Hawaiian Electric Industries' revenue decreased 12 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 15.25% for the first quarter compared to the same period in the previous year, and operating margins increased to 15.25% over the same period. Net earnings for past trailing twelve months were $228.76 million, up 11% from the prior year.
Moving on to the balance sheet, Hawaiian Electric Industries' cash levels jumped 58% for the first quarter over the same period last year. The current ratio for Hawaiian Electric Industries now stands at 1.96. The company increased shares outstanding by 0.19%.
Shares of HE are currently trading around $45.35. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 21.68 and price to book ratio of 2.12.