Hawaiian Electric Q2 Earnings Tops View - Quick Facts

(RTTNews) - Hawaiian Electric Industries Inc. (HE), an utilities and banking company, Monday reported second-quarter net income was $35.5 million or $0.33 per share, compared to $41.8 million or $0.41 per share a year earlier.

Excluding $7.2 million after-tax of merger-related costs associated with the pending merger with NextEra Energy, Inc. and the spin-off of ASB Hawaii, core earnings for the second quarter of 2015 were $42.2 million or $0.39 per share, compared to $41.3 million or $0.41 per share for the second quarter of 2014. On average, three analysts polled by Thomson-Reuters estimated the company's earnings to be $0.38 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly revenues declined to $623.91 million from $798.66 million in the comparable quarter last year.

On August 7, 2015, the board of directors maintained HEI's quarterly cash dividend of $0.31 per share, payable on September 10, 2015, to shareholders of record at the close of business on August 24, 2015 (ex-dividend date is August 20, 2015).