Hawaiian Electric Industries (HE) FY2022 results: revenue $3.4 billion, up 20.0% on the year
Hawaiian Electric Industries Inc. (HE) reported revenue of $3.4 billion for fiscal 2022, the year ended 31 December 2022, up 20.0% on the year before. Net income was $243 million, down 2.0%, and diluted earnings per share $2.20. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2023.
Revenue
$3.4 billion
+20.0% on the year
FY2015FY2022
Operating margin
8.2%
13.5% a year earlier
FY2015FY2022
Net income
$243 million
-2.0% on the year
FY2015FY2022
Diluted EPS
$2.20
-2.2% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
454
376
429
+21.0%
Capital expenditure
339
315
384
+7.9%
Free cash flow
115
61.1
45.5
+88.3%
Free cash flow margin
3.4%
2.1%
1.8%
Cash from investing
-1,129
-1,180
-1,414
Cash from financing
568
756
1,116
-25.0%
Depreciation and amortisation
270
279
291
-3.0%
Share-based compensation
7.5
9.1
5.8
-18.4%
Dividends paid
111
149
144
-25.2%
Dividend per share
$1.40
$1.36
$1.32
+2.9%
Diluted shares, weighted
110m
110m
109m
+0.2%
Shares outstanding at period end
109m
109m
109m
+0.1%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
2,202
2,391
2,338
-7.9%
Redeemable equity
34.3
34.3
34.3
0.0%
Deposits
8,170
8,172
7,387
-0.0%
Debt
3,253
2,464
2,338
+32.0%
Other liabilities
2,625
2,761
2,907
-4.9%
Total liabilities and equity
16,284
15,823
15,004
+2.9%
Fixed assets
5,687
5,392
5,266
+5.5%
Goodwill
82.2
82.2
82.2
0.0%
Securities held for sale or to maturity
2,681
3,097
2,197
-13.4%
Loans
5,907
5,140
5,233
+14.9%
Trading assets
n/a
n/a
1,970
Cash and equivalents
43.7
306
341
-85.7%
Other assets
1,883
1,806
n/a
+4.3%
Total assets
16,284
15,823
15,004
+2.9%
10-K for the year ended 31 December 2022, filed 27 February 2023: the filing.