HEI reports Q3 net loss $104.4M; signs definitive Maui wildfire settlement

HAWAIIAN ELECTRIC INDUSTRIES INC

2024-Q3 EPS reported -$12.16 revenue$2,732,901,000

Q3 net loss $104.4M ($0.91/share) includes $203M wildfire liability accrual (net of $40M insurance) and $35.2M Pacific Current impairment.
Core net income $52.2M, core EPS $0.46, excluding wildfire and impairment items.
On Nov 4, HEI and defendants signed definitive settlement agreements for Maui wildfire tort litigation.
Going concern resolved after $557.7M equity raise; first settlement payment expected late 2025.
Bank net income $18.8M, NIM expanded to 2.82%; utility dividend to HEI remains suspended.

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