Hawaiian Electric Industries Inc. on Feb. 14 reported 2017 fourth-quarter non-GAAP, or core, net income of $46.5 million, or 43 cents per share, up from $44.6 million, or 41 cents per share, in the prior-year quarter.
S&P Global Market Intelligence's normalized consensus EPS estimate for the quarter was 41 cents.
Total revenue for the fourth quarter of 2017 was $658.6 million, compared with $617.4 million reported in the last quarter of 2016. Operating income decreased to $85 million in the fourth quarter of 2017 from $88.4 million in the prior-year period.
On a GAAP basis, Hawaiian Electric posted fourth-quarter 2017 consolidated net income of $32.4 million, or 30 cents per share, down from $44.6 million, or 41 cents per share, in the fourth quarter of 2016.
For full year 2017, Hawaiian Electric recorded non-GAAP core net income of $179.5 million, or $1.65 per share, down from $190.1 million, or $1.75 per share, posted in full year 2016. The S&P Global Market Intelligence normalized consensus EPS estimate for full-year 2017 was $1.63 per share.
Full-year revenues increased to $2.56 billion in 2017 from $2.38 billion in 2016, while operating income shrunk to $338.3 million from $348.2 million in 2016.
Consolidated net income for 2017 slipped to $165.3 million, or $1.52 per share, from $248.3 million, or $2.29 per share, in 2016.