August 02, 2014 4:47 AM ET

Electric Utilities

Company Overview of Hawaiian Electric Company Inc.

Company Overview

Hawaiian Electric Company, Inc., together with its subsidiaries, operates as a regulated electric utility. The company is engaged in the production, purchase, transmission, distribution, and sale of electricity on the islands of Oahu, Hawaii, Maui, Lanai, and Molokai. It serves various suburban communities, resorts, U.S. Armed Forces installations, and agricultural operations. As of December 31, 2013, it owned and operated four generating plants on the islands of Oahu with generating capability of 1,322 megawatts; five generating plants on the island of Hawaii with a generating capability of 197.1 megawatts; and two generating plants on the island of Maui with a generating capability of 244....

900 Richards Street

Honolulu, HI 96813

United States

Founded in 1891

2,764 Employees

Phone:

808-543-7771

Key Executives for Hawaiian Electric Company Inc.

Chief Executive Officer
Age: 64
Chief Financial Officer and Senior Vice President
Age: 51
Senior Vice President of Operations
Age: 66
Chairman
Age: 62
President of Hawaii Electric Light Company
Age: 54
Compensation as of Fiscal Year 2014.

Hawaiian Electric Company Inc. Key Developments

Hawaiian Electric Company Inc. Announces the Retirement of Richard M. Rosenblum as President and CEO with in a Year

Hawaiian Electric Company Inc. announced that President and CEO Richard M. Rosenblum has notified the company that he plans to retire within a year. Rosenblum, who turned 64 last month, has served as Hawaiian Electric’s President and CEO and as a member of the company’s board of directors since 2009. He joined Hawaiian Electric after a 32-year career at Southern California Edison.

Hawaiian Electric Company Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Hawaiian Electric Company Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported total revenues of USD 720.062 million compared to USD 717.441 million a year ago. Operating income was USD 70.666 million compared to USD 51.121 million a year ago. Income before income taxes was USD 57.166 million compared to USD 38.547 million a year ago. Net income was USD 35.919 million compared to USD 24.928 million a year ago. Net income attributable to the company was USD 35.690 million compared to USD 26.699 million a year ago. Net cash provided by operating activities was USD 0.637 million compared to USD 53.501 million a year ago. Capital expenditures were USD 64.462 million compared to USD 67.915 million a year ago.

Hawaiian Electric Company Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013

Hawaiian Electric Company Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, kilowatt-hour sales were 1,759 million against 1,771 million a year ago. Total revenues were $764,096,000 against $769,182, 000 a year ago. Total operating income was $59,508,000 against $19,443,000 a year ago. Income before income taxes was $49,829,000 against $7,343,000 a year ago. Net income for common stock was $31,990,000 against $4,225,000 per diluted share a year ago. Non -GAAP core net income was $32 million against $28.7 million a year ago. Return on average common equity was 7.98% against 7.57%. For the year, Kilowatt-hour sales was 6,859 million against 6,976 million a year ago. Total revenues were $2,980,172,000 against $3,109,439,000 a year ago. Total operating income $245,513,000 against $213,012,000 a year ago. Income before income taxes was $194,041,000 against $162,319,000 a year ago. Net income for common stock was $122,929,000 against $99,276,000 a year ago. Net cash provided by operating activities was $292,443,000 against $177,231,000 a year ago. Capital expenditures was $342,485,000 against $310,091,000 a year ago. Non -GAAP core net income was $122.9 million against $123.7 million a year ago.

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