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Hawaiian Electric Industries (HE) Q3 FY2023 earnings: revenue $801 million, down 23.2% on the year

Hawaiian Electric Industries Inc. (HE) reported revenue of $801 million for Q3 FY2023, the quarter ended 30 September 2023, down 23.2% on the same quarter a year earlier. Net income was $42 million, down 33.5% on the year, and diluted earnings per share $0.37. The figures are the company's own, from the 10-Q it filed with the SEC on 13 November 2023.

Revenue$801 milliondown 23.2%
Net income$42 milliondown 33.5%
Diluted EPS$0.37
QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Revenue801n/an/an/a
Operating income62.6n/an/an/a
Operating margin7.8%n/an/a
Pre-tax income49.1n/an/an/a
Income tax7.5n/an/an/a
Effective tax rate15.3%n/an/a
Net income41.6n/an/an/a
Net margin5.2%n/an/a
Diluted EPS$0.37n/an/an/a
$ 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. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Operating cash flow104n/an/an/a
Capital expenditure106n/an/an/a
Free cash flow-3.0n/an/an/a
Free cash flow margin-0.4%n/an/a
Cash from investing-86.8n/an/an/a
Cash from financing346n/an/an/a
Share-based compensation2.4n/an/an/a
Dividends paid34.1n/an/an/a
Dividend per share$0.36n/an/an/a
Diluted shares, weighted110mn/an/an/a
Shares outstanding at period end110mn/an/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Shareholders' equity2,224n/an/an/a
Redeemable equity34.3n/an/an/a
Deposits8,224n/an/an/a
Debt2,945n/an/an/a
Other liabilities3,564n/an/an/a
Total liabilities and equity16,992n/an/an/a
Fixed assets5,917n/an/an/a
Goodwill82.2n/an/an/a
Securities held for sale or to maturity2,478n/an/an/a
Loans6,115n/an/an/a
Cash and equivalents667n/an/an/a
Other assets1,732n/an/an/a
Total assets16,992n/an/an/a

Questions

What was Hawaiian Electric Industries' revenue in Q3 FY2023?

Hawaiian Electric Industries (HE) reported revenue of $801 million for Q3 FY2023, the quarter ended 30 September 2023, down 23.2% on the same quarter a year earlier.

How much did Hawaiian Electric Industries earn in Q3 FY2023?

Net income for Q3 FY2023 was $42 million, down 33.5% on the year, and diluted earnings per share $0.37.

When did Hawaiian Electric Industries report Q3 FY2023 results?

Hawaiian Electric Industries filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 13 November 2023.

Quarterly results, the last 12 quarters

Q3 FY2023 †Q4 FY2023Q1 FY2024 †Q2 FY2024 †Q3 FY2024 †Q4 FY2024 †Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue801853792795833799744746791806746940
Operating income62.674.350.9-1,662-15053.762.453.752.067.153.4204
Operating margin8%9%6%-209%-18%7%8%7%7%8%7%22%
Interest expensen/an/a31.632.432.131.134.227.326.229.731.148.4
Pre-tax income49.156.928.5-1,685-17337.833.540.039.953.538.6165
Tax rate15%13%24%n/an/a22%19%34%22%23%21%25%
Net income41.648.842.6-1,295-104-68.227.126.130.742.330.4123
Net margin5%6%5%-163%-12%-9%4%3%4%5%4%13%
Diluted EPS$0.37$0.44$0.38-$11.74-$0.91-$0.40$0.15$0.15$0.18$0.23$0.18$0.71
Operating cash flow10476.312568.815713749.713510010661.0-411
Capital expenditure10610698.980.378.885.686.575.094.085.8104139
Free cash flow-3.0-29.625.7-11.578.751.0-36.959.86.320.7-42.5-550
Dividends paid34.10.00.00.00.00.0n/an/an/an/an/an/a
Shares outstanding110m110m110m110m172m172m172m173m173m173m173m173m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 13 November 2023, accession 0000354707-23-000095: the filing on EDGAR. All of Hawaiian Electric Industries Inc.'s filings: EDGAR company page.

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