Hei reports 2021 results

Honolulu, feb. 14, 2022 /prnewswire/ -- 2021 highlights: 24% consolidated eps growth driven by solid performance at both utility and bank utility earnings reflect focus on cost efficiency and customer savings bank results bolstered by significant negative provision, reflecting meaningful credit quality and economic improvement over prior year hawaiian electric advanced strategic initiatives and delivered strong financial performance, while providing significant customer savings delivered $8 million in customer savings through efficiency and productivity measures provided additional $2 million for customer bill credit program announced goal to reduce carbon emissions from power generation 70% by 2030 compared to 2005 and be carbon neutral or better by 2045 reached 1 gw of total solar capacity on system private rooftop systems grew more than 5%, resulting in 21% of hawaiian electric's residential customers with rooftop solar solid profitability and execution from american savings bank 76% net income growth compared to 2020, largely due to $25.8 million negative provision for credit losses strong deposit and earning asset growth, up 10.6% and 11.4%, respectively net interest margin of 2.91%, with record low funding costs continued strong capital and liquidity position   1 unless otherwise indicated, throughout this release earnings per share (eps) refers to diluted earnings per share. hawaiian electric industries, inc. (nyse - he) (hei) today reported 2021 year-end consolidated net income for common stock of $246.2 million and eps of $2.25 compared to $197.8 million and eps of $1.81 for 2020.
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