secwatch.observer — SEC 8-K summary
======================================

Issuer:     HAWAIIAN ELECTRIC INDUSTRIES INC (HE)
CIK:        0000354707
Form:       8-K
Filed at:   2025-03-26T23:59:59+00:00
Accession:  0000354707-25-000017
Event type: earnings
Sentiment:  negative
Materiality: 0.95
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

HEI reports FY 2024 net loss of $1.43B on $1.88B wildfire charges; no common dividend
--------------------------------------------------------------------------------

- Diluted EPS loss of $11.23 vs diluted EPS of $1.81 in FY 2023; net loss for common stock $1.426B.
- Wildfire tort-related claims net expense of $1.875B in 2024; total accrued wildfire liability $1.915B (current + noncurrent).
- Revenue declined 2.1% to $3.22B; electric utility operating loss of $1.61B vs income of $302M in 2023.
- Common equity fell from $2.34B to $1.48B; no common dividends paid (vs $1.08/share in 2023).
- ASH bank sale closed; HEI raised $575M via 62.16M share offering to help fund wildfire liabilities.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/354707/000035470725000017/0000354707-25-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/46207/000035470725000017/he-20250326.htm
  HTML page:      https://secwatch.observer/filing/0000354707-25-000017

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