Business briefs: 07-30-18

First Hawaiian: 2Q earnings snapshot

HONOLULU — First Hawaiian Inc. (FHB) on Thursday reported second-quarter earnings of $69.1 million.

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The bank, based in Honolulu, said it had earnings of 50 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.

The bank holding company posted revenue of $208.8 million in the period. Its revenue net of interest expense was $191.2 million, also topping Street forecasts.

First Hawaiian shares have dropped 3 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $28.28, a fall of 5.5 percent in the last 12 months.

Hawaiian Holdings reports 2018 second quarter financial results

HONOLULU — Hawaiian Holdings, Inc., parent company of Hawaiian Airlines, Inc. reported its financial results for the second quarter of 2018.

“Our second quarter performance reflects our continued position as the carrier of choice for Hawaii,” said Peter Ingram, Hawaiian Airlines president and CEO, in a press release. “The Hawaiian team showed their mettle yet again, producing solid financial and operational results in a quarter marked by rising fuel prices, elevated industry capacity, and headline-grabbing volcanic activity on the Big Island of Hawaii. We generated more revenue and carried more guests than in any second quarter in our history by executing our plan and running a safe and reliable airline. I couldn’t be more proud of my colleagues.”

As of June 30, 2018, the company had:

Unrestricted cash, cash equivalents and short-term investments of $593 million and outstanding debt and capital lease obligations of $692 million. The company returned $8.6 million to shareholders in the second quarter through $6.1 million in dividends and $2.5 million in share repurchases.

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On July 20, the company’s Board of Directors declared a quarterly cash dividend of 12 cents per share to be paid on Aug. 31 to all shareholders of record as of Aug. 17.

By wire sources