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8-K filed February 13, 2024, 6:59 PM ET ticker HE CIK 0000354707

earnings confidence high sentiment negative materiality 0.75

HEI 2023 net income $199M ($1.81 EPS) down from $241M; core EPS $2.04 vs $2.14; utility dividend cut to $13M

HAWAIIAN ELECTRIC INDUSTRIES INC

2023-FY EPS reported $1.81 revenue$3,682,166,000

Full-year net income $199.2M ($1.81 diluted EPS) vs $241.1M ($2.20) in 2022; included $14.1M after-tax wildfire expenses and $11.0M after-tax securities loss.
Core net income $224.3M ($2.04 EPS) vs $235.0M ($2.14); utility core net income $195.1M (excl. wildfire-related costs).
Utility dividend cut: Hawaiian Electric board declared $13M Q1 dividend to HEI, down from ~$30M in prior quarters, to retain cash for Maui restoration and investments.
ASB full-year net income $53.4M (incl. $8.3M wildfire costs and $11.0M securities loss); core net income $72.6M; net interest income flat at $252M.
Q4 2023 net income $48.8M ($0.44 EPS) vs $57.3M ($0.52); core Q4 net income $53.4M ($0.48).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

HAWAIIAN ELECTRIC INDUSTRIES INC reported Full year 2022 results: net income $188.9 million.

Period: Full year 2022
Net income: $188.9 million
Result: reported results

Exact text from the filing

Full year 2023 consolidated net income for common stock of $199.2 million and EPS of $1.81 compared to $241.1 million and EPS of $2.20 for 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

HAWAIIAN ELECTRIC INDUSTRIES INC reported Full year 2022 results: net income $188.9 million.

Period: Full year 2022
Net income: $188.9 million
Result: reported results

Exact text from the filing

Core net income and EPS 1 for the year were $224.3 million and $2.04, respectively, compared to $235.0 million and $2.14 for 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

HAWAIIAN ELECTRIC INDUSTRIES INC reported Full year 2022 results: net income $188.9 million.

Period: Full year 2022
Net income: $188.9 million
Result: reported results

Exact text from the filing

Hawaiian Electric’s full-year net income was $194.0 million compared to $188.9 million in 2022

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

HAWAIIAN ELECTRIC INDUSTRIES INC reported Fourth quarter of 2022 results: net income $48.6 million.

Period: Fourth quarter of 2022
Net income: $48.6 million
Result: reported results

Exact text from the filing

For the fourth quarter of 2023, consolidated net income for common stock was $48.8 million and EPS was $0.44 compared to $57.3 million and EPS of $0.52 for the fourth quarter of 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

HAWAIIAN ELECTRIC INDUSTRIES INC reported Fourth quarter of 2022 results: net income $48.6 million.

Period: Fourth quarter of 2022
Net income: $48.6 million
Result: reported results

Exact text from the filing

Hawaiian Electric’s net income for the fourth quarter of 2023 was $58.2 million, compared to $48.6 million in the fourth quarter of 2022

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

HAWAIIAN ELECTRIC INDUSTRIES INC reported Fourth quarter of 2023 results: net income $48.9 million.

Period: Fourth quarter of 2023
Net income: $48.9 million
Result: reported results

Exact text from the filing

For the fourth quarter of 2023, consolidated net income for common stock was $48.8 million and EPS was $0.44

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

HAWAIIAN ELECTRIC INDUSTRIES INC reported Fourth quarter of 2023 results: net income $48.9 million.

Period: Fourth quarter of 2023
Net income: $48.9 million
Result: reported results

Exact text from the filing

Core net income and EPS 1 for the fourth quarter were $53.4 million and $0.48, respectively.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

HAWAIIAN ELECTRIC INDUSTRIES INC reported Fourth quarter of 2023 results: net income $48.9 million.

Period: Fourth quarter of 2023
Net income: $48.9 million
Result: reported results

Exact text from the filing

Hawaiian Electric’s net income for the fourth quarter of 2023 was $58.2 million

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

HAWAIIAN ELECTRIC INDUSTRIES INC reported Fourth quarter of 2023 results: net income $48.9 million.

Period: Fourth quarter of 2023
Net income: $48.9 million
Result: reported results

Exact text from the filing

Normalizing for the deferral treatment and insurance recoveries, and excluding incremental after-tax Maui windstorm and wildfire-related expenses, Hawaiian Electric’s core net income 3 for the fourth quarter of 2023 was $48.9 million.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

HAWAIIAN ELECTRIC INDUSTRIES INC reported Full year 2023 results: net income $195.1 million.

Period: Full year 2023
Net income: $195.1 million
Result: reported results

Exact text from the filing

Full Year Net Income of $199.2 million and Diluted Earnings Per Share (EPS) of $1.81

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

HAWAIIAN ELECTRIC INDUSTRIES INC reported Full year 2023 results: net income $195.1 million.

Period: Full year 2023
Net income: $195.1 million
Result: reported results

Exact text from the filing

Core net income and EPS 1 for the year were $224.3 million and $2.04, respectively

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

HAWAIIAN ELECTRIC INDUSTRIES INC reported Full year 2023 results: net income $195.1 million.

Period: Full year 2023
Net income: $195.1 million
Result: reported results

Exact text from the filing

Hawaiian Electric’s full-year net income was $194.0 million compared to $188.9 million in 2022

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

HAWAIIAN ELECTRIC INDUSTRIES INC reported Full year 2023 results: net income $195.1 million.

Period: Full year 2023
Net income: $195.1 million
Result: reported results

Exact text from the filing

Excluding incremental after-tax Maui windstorm and wildfire-related expenses, Hawaiian Electric’s core net income 3 for 2023 was $195.1 million.

View on SEC.gov

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Source: SEC EDGAR

accession 0000354707-24-000007

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