Hawaiian Electric Industries, Inc. (NYSE:HE) Q4 2022 Earnings Conference Call February 14, 2023 4:15 PM ET
Company Participants
Mateo Garcia - Director of Investor Relations
Scott Seu - President and Chief Executive Officer
Paul Ito - Executive Vice President and Chief Financial Officer
Ann Teranishi - President and Chief Executive Officer of American Savings Bank
Tayne Sekimura - Senior Vice President and Chief Financial Officer of Hawaiian Electric
Conference Call Participants
Constantine Lednev - Guggenheim Securities, LLC
Paul Patterson - Glenrock Associates LLC
Julien Dumoulin-Smith - Bank of America Merrill Lynch
Operator
Good afternoon, and thank you for attending today's Hawaiian Electric Industries' Earnings Conference Call. My name is Danielle, and I will be your moderator for today's call. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. [Operator Instructions]
It is now my pleasure to pass the conference over to our host, Mateo Garcia, Director of Investor Relations. Mateo, the floor is yours.
Mateo Garcia
Thank you, Danielle. Welcome, everyone, to HEI's full-year and fourth quarter 2022 earnings call. Joining me today are Scott Seu, HEI President and CEO; Paul Ito, HEI's CFO; Shelee Kimura, Hawaiian Electric President and CEO; Ann Teranishi, American Savings Bank President and CEO; and other members of senior management.
Our earnings release and our presentation for this call are available in the Investor Relations section of our website. As a reminder, forward-looking statements will be made on today's call. Factors that could cause actual results to differ materially from expectations can be found in our presentation, our SEC filings and in the Investor Relations section of our website.
Now Scott will begin with his remarks.
Scott Seu
Greetings, everyone. Thank you for joining us today. I'll give an overview of our results and accomplishments over the past year, update you on the Hawaii economy and then turn the call over to Paul to further discuss our financial results and guidance. 2022 was a year of strong achievement for HEI, highlighting the strategic benefits we continue to see from our combination of companies. We earned $241 million in net income and $2.20 in earnings per share for the full-year, reflecting solid performance at both the utility and bank.
Despite an unprecedented combination of macroeconomic challenges occurring in the first full-year under our new regulatory framework, Hawaiian Electric grew earnings 6% year-over-year to $189 million. This was consistent with our expectations and in line with the improved guidance we messaged during our third quarter webcast.