secwatch.observer — SEC 8-K summary
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Issuer:     HAWAIIAN ELECTRIC INDUSTRIES INC (HE)
CIK:        0000354707
Form:       8-K
Filed at:   2024-11-08T23:59:59+00:00
Accession:  0000354707-24-000070
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/354707/000035470724000070/0000354707-24-000070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/46207/000035470724000070/he-20241108.htm
  HTML page:      https://secwatch.observer/filing/0000354707-24-000070

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