Hawaiian Electric Industries (NYSE: HE) reported Q1 EPS of $0.37, $0.01 worse than the analyst estimate of $0.38. Revenue for the quarter came in at $645.87 million versus the consensus estimate of $576.59 million.

"We are pleased to report solid earnings for the first quarter of 2018 from both our bank and utility," said Constance H. Lau, president and CEO of HEI.

"In the first quarter, our utility worked with the Hawaii Public Utilities Commission to give the net benefits from tax reform to utility customers, including approximately $9 million for the first quarter alone. Our Commission also opened a performance-based ratemaking proceeding that establishes a collaborative, deliberative process allowing for stakeholder and expert input to help accelerate Hawaii\'s move to 100% clean energy. Moving forward we are focused on our role in creating resilient, sustainable communities through technology, smart use of resources, building partnerships, and providing more value to customers."

"American Savings Bank\'s first quarter results included the highest quarterly net income in its history, reflecting higher net interest margin, good deposit and loan growth and the benefits of tax reform for the bank, including lower tax expense and higher wage rates for entry level and lower wage positions. We continue to work hard to deliver value for our customers as the bank\'s profitability improves," said Lau.

For earnings history and earnings-related data on Hawaiian Electric Industries (HE) click here.