secwatch.observer — SEC 8-K summary
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Issuer:     HAWAIIAN ELECTRIC INDUSTRIES INC (HE)
CIK:        0000354707
Form:       8-K
Filed at:   2024-02-13T23:59:59+00:00
Accession:  0000354707-24-000007
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/354707/000035470724000007/0000354707-24-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/46207/000035470724000007/he-20240213.htm
  HTML page:      https://secwatch.observer/filing/0000354707-24-000007

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