Hawaiian Electric Industries, Inc. (NYSE:HE) Q3 2022 Earnings Conference Call November 7, 2022 4:15 PM ET

Company Participants

Julie Smolinski - VP, IR and Corporate Sustainability

Scott Seu - President & CEO

Paul Ito - Interim HEI CFO

Shelee Kimura - President & CEO, Hawaiian Electric

Ann Teranishi - American Savings Bank President and CEO;

Conference Call Participants

Julien Dumoulin-Smith - Bank of America

Paul Patterson - Glenrock Associates

Operator

Good afternoon, and thank you for attending today's Q3 2022 Hawaiian Electric Industries, Inc. Earnings Conference Call. My name is Austin, and I shall be your moderator for today. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. [Operator Instructions]

I would now like to pass the conference over to our host, Julie Smolinski, Vice President of Investor Relations and Corporate Sustainability. Julie, please go ahead.

Julie Smolinski

Thank you, Austin. Welcome, everyone, to HEI's third quarter 2022 Earnings Call. Joining me today are Scott Seu, HEI President and CEO and Paul Ito, Interim HEI 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 outlook, update you on the whole economy and our businesses and then turn the call over to Paul to further discuss our financials.

We're pleased with our consolidated third quarter earnings of $62.1 million and earnings per share of $0.57, which reflect good performance and the benefits of our combination of companies.

The utility's performance was steady, and we were able to offset some of the pressures we've seen related to inflation, interest rates, O&M and fuel costs. Our utility outlook for the year has improved since our last webcast. We now expect the utility to end the year closer to the midpoint of its guidance range, better than the lower end than we had forecast last quarter.