Hawaiian Electric Industries Inc. HE reported earnings per share (EPS) of 42 cents in the first quarter of 2019, which surpassed the Zacks Consensus Estimate of 39 cents by 7.7%. The bottom line also improved 13.5% from 37 cents registered in the prior-year quarter. Solid revenues and operating income in the quarter under review led to the uptick.Total RevenuesHawaiian Electric’s total revenues of $661.6 million in the first quarter outpaced the Zacks Consensus Estimate of $579 million by 14.3% and also rose 2.4% year over year. The improvement can be attributed to increased contributions from both the Electric Utility and Bank segments.Operating StatisticsTotal expenses increased 1.7% year over year to $538.7 million during the first quarter.However, total operating income rose 8.4% year over year to $77.9 million driven by higher contributions from both the Electric Utility and Bank segments.Net interest expenses amounted to $23.1 million, up from $21.5 million in the prior-year quarter.Hawaiian Electric Industries, Inc. Price, Consensus and EPS Surprise Hawaiian Electric Industries, Inc. Price, Consensus and EPS Surprise | Hawaiian Electric Industries, Inc. QuoteSegment DetailsElectric Utility: Revenues at this segment totaled $578.5 million, up 1.4% year over year. Also, net income increased to $32.6 million from $28 million a year ago.Banking: At this segment revenues summed $83.1 million, up 10.1% year over year. Meanwhile, net income came in at $20.8 million, up 9.9%.Quarterly HighlightsIn the first quarter, the Public Utilities Commission approved the company’s six renewable power purchase agreements. This, in turn, is expected to bring a significant amount of solar-plus-battery-storage projects for Hawaiian Electric in Oahu, Maui and Hawaii Island.GuidanceHawaiian Electric reaffirmed its earnings guidance for 2019. The company continues to expect earnings in the range of $1.85-$2.05 per share. The Zacks Consensus Estimate for 2019 earnings is pegged at $1.94, just below the midpoint of the company’s guided range.Zacks Rank & Stock to ConsiderHawaiian Electric currently carries a Zacks Rank #4 (Sell).A better-ranked stock in the same industry is PG&E Corp. PCG carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.PG&E Corp surpassed the Zacks Consensus Estimate for earnings in the trailing four quarters, the average being 16.9%. It has an expected long-term earnings growth rate of 2.3%.Recent Utility ReleasesFirstEnergy Corporation FE delivered first-quarter 2019 operating earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 66 cents by 1.52%.NextEra Energy, Inc.’s NEE first-quarter 2019 adjusted earnings came in at $2.20 per share, beating the Zacks Consensus Estimate of $2.01 by 9.4%.Breakout Biotech Stocks with Triple-Digit Profit PotentialThe biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pacific Gas & Electric Co. (PCG): Free Stock Analysis Report Hawaiian Electric Industries, Inc. (HE): Free Stock Analysis Report NextEra Energy, Inc. (NEE): Free Stock Analysis Report FirstEnergy Corporation (FE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research