secwatch.observer — SEC 8-K summary
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Issuer:     HAWAIIAN ELECTRIC INDUSTRIES INC (HE)
CIK:        0000354707
Form:       8-K
Filed at:   2024-05-10T23:59:59+00:00
Accession:  0000354707-24-000021
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

HEI Q1 net income falls to $42.1M from $54.7M; core EPS $0.45
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/354707/000035470724000021/0000354707-24-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/46207/000035470724000021/he-20240510.htm
  HTML page:      https://secwatch.observer/filing/0000354707-24-000021

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer