earnings
confidence high
sentiment negative
materiality 0.70
HEI Q1 net income falls to $42.1M from $54.7M; core EPS $0.45
HAWAIIAN ELECTRIC INDUSTRIES INC
2024-Q1 EPS reported
$0.38
revenue$897,158,000
- Net income $42.1M ($0.38 EPS) versus $54.7M ($0.50) YoY; core net income $49.3M.
- Utility net income $39.2M, down from $47.0M, driven by $12M higher O&M including $7M Maui wildfire costs.
- Bank net income $20.9M, up from $18.6M YoY; released $1.5M in Maui wildfire-related reserves.
- Holding companies net loss $18.0M vs $10.9M YoY, primarily from wildfire-related expenses.
- One 'Ohani fund: 43 decedent and 15 physical injury registrants; legislative session ended without wildfire bill.