Hawaiian Electric Industries Inc
HE
ISIN null / Valor 938099
Hawaiian Electric Industries Inc
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About company
Hawaiian Electric Industries Inc. (HEI) operates as a holding company with a primary focus on the electric utility and banking sectors within Hawaii. Its subsidiary, Hawaiian Electric Company, Inc., plays a significant role in the state's energy sector, although HEI itself does not directly sell products or services and is not regulated by the state public utilities commission. This structure allows HEI to oversee operations and investments in its subsidiaries without engaging in the day-to-day provision of electric utility services. The distinction between HEI and its operational subsidiaries is crucial for understanding its business model, which leverages the synergies between utility services and financial operations to serve the needs of Hawaii's residents and businesses.
Summarized from source with an LLMView SourceSector: EnergyLatest Results (04.10.2025):
Hawaiian Electric Industries Inc reported a net loss for the full year 2024 and the fourth quarter of 2024, reflecting challenges from wildfire-related liabilities and strategic divestitures. Despite these financial setbacks, the company made significant strides in its strategic priorities, including litigation settlements, debt reduction through asset sales, and progress towards renewable energy goals.
Full Year 2024 Financial Performance
For the full year 2024, Hawaiian Electric Industries Inc recorded a net loss of $1,426 million, or $11.23 per share, compared to a net income of $199 million, or $1.81 per share in 2023. Excluding discontinued operations and wildfire-related expenses, the core income from continuing operations was $124 million, down from $152 million in the previous year.
Fourth Quarter 2024 Results
In the fourth quarter of 2024, the company reported a net loss of $68 million, or $0.40 per share, compared to a net income of $49 million, or $0.44 per share in Q4 2023. Core income from continuing operations slightly decreased to $35 million from $37 million in the same quarter last year.
Litigation Settlement and Legal Clarity
Hawaiian Electric Industries Inc reached definitive settlement agreements in the Maui wildfire tort litigation, supported by a favorable decision from the Hawaii Supreme Court. This resolution provides the company with a clearer path forward in addressing litigation-related challenges.
Divestiture of American Savings Bank
The company sold 90.1% of American Savings Bank in December 2024, simplifying HEI’s strategic and regulatory position. The proceeds from the sale are being used to reduce debt, allowing the company to focus more on its core utility business.
Advancements in Renewable Energy
Hawaiian Electric achieved a 36% Renewable Portfolio Standard in 2024, accelerating its progress towards the 2030 goal of 40%. This milestone underscores the company's commitment to sustainable energy initiatives.
Customer Benefits
For the typical residential customer, the utility decreased bills by 7% in 2024 and returned $18 million in bill credits, demonstrating HEI’s efforts to provide financial relief to its customers.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
1968 M
Market cap (USD)
1,261,656
Daily traded volume (Shares)
9.98 / 9.705
1 day high/low (USD)
52 weeks high/low (USD)
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Ratings & reviews
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