Highest-materiality recent filing
HEI Q1 GAAP EPS $0.18 vs $0.15 YoY; Wildfire settlement finalized, first $479M payment made
GAAP net income $30M ($0.18/sh) vs $27M ($0.15); Core net income $31M vs $40M.
Maui wildfire settlement conditions fully satisfied; HEI authorizes first $479M payment
Final condition met April 10, 2026: insurer subrogation judgment became final and unappealable.
Hawaiian Electric CFO DeGhetto departs; consulting deal worth over $2.4M in fees
Scott DeGhetto's term as EVP & CFO ended April 1, 2026; enters one-year consultant agreement via Emberstone LLC.
Net income of $123M ($0.71 diluted EPS) vs net loss of $1.43B in 2024 (which included ~$1.4B after-tax wildfire charge).
Derivative lawsuit settlement provides $100M cash payment from insurers; no admission of liability.
Full year 2025 net income $123M ($0.71 diluted EPS) vs net loss $1,426M ($11.23) in 2024.
HEI Q3 2025 net income $31M ($0.18/shr); core EPS $0.19 vs $0.29 YoY
Hawaiian Electric net income $37M vs net loss $83M in Q3 2024 due to $203M wildfire liability accrual in prior year.
Hawaiian Electric subsidiary issues $500M of 6.000% Senior Notes due 2033
Issued $500M aggregate principal of 6.000% Senior Notes due October 1, 2033
Hawaiian Electric prices $500M of 6.000% Senior Notes due 2033
$500M aggregate principal amount, 6.000% coupon, maturing 2033.
HEI revolver increased to $300M (from $175M) with maturity extended to Sep 5, 2030.
HECO commences investor calls; could issue $400M 8-yr senior notes
HECO begins fixed income investor calls; potential $400 million senior unsecured notes offering subject to market conditions.
HEI Q2 net income $26M; Hawaii governor signs wildfire liability cap & securitization law
Core EPS from continuing ops $0.20 vs $0.26 in Q2 2024; GAAP EPS $0.15.
HEI Q1 core EPS $0.23; Hawaiian Electric NI $48M; debt cut $384M; wildfire legislation passed
Net income $27M ($0.15 EPS); Core income from continuing ops $40M ($0.23) vs $28M ($0.26) in Q1 2024.
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.
HE to use ~$383.7M ASB sale proceeds to buy back pro-rata portion of senior notes
Using ~$383.7M net proceeds from December 2024 ASB sale to buy back up to pro-rata portion of senior notes at par plus accrued interest.
HEI Reports 2024 Net Loss of $1,426M; Hawaii Supreme Court Clarifies Wildfire Settlement
Full year 2024 net loss of $1,426 million ($11.23 per share) vs net income of $199 million in 2023.
Hawaii Supreme Court issued decision on Feb 10, 2025 on Reserved Questions in case 2CSP-23-0000057 regarding insurers' subrogation claims in Maui wildfire tort litigation.
HEI sells 90.1% of American Savings Bank for ~$405M; closes Dec 31, 2024
Transaction valued at ~$450M; 90.1% stake sold for ~$405M to independent investors.
HEI sells 90.1% of American Savings Bank for $405M to independent investors; retains 9.9%
Sold 90.1% of ASB common stock for $405M cash; deal closed Dec 31, 2024; values bank at $450M.
HEI reports Q3 net loss $104.4M; signs definitive Maui wildfire settlement
Q3 net loss $104.4M ($0.91/share) includes $203M wildfire liability accrual (net of $40M insurance) and $35.2M Pacific Current impairment.
HEI and Hawaiian Electric agree to $1.99B settlement for Maui wildfire tort claims
HEI and Hawaiian Electric will contribute $1.99 billion total to settle tort claims from the 2023 Maui wildfires, including $75 million already provided for the One 'Ohana Initiative.
American Savings Bank Q3 net income $18.8M, swing from Q2 loss; NIM expands to 2.82%
Q3 net income $18.8M vs net loss $45.8M in Q2; core net income $19.4M, up from $17.6M YoY.
HEI prices 54M-share common stock offering at $9.25/share to fund Maui wildfire settlement
Offering of 54,054,054 shares at $9.25 per share; expected net proceeds of approximately $485 million.
HEI announces $500M common stock offering; proceeds for Maui wildfire settlement
HEI intends to offer $500M of common stock, with underwriter option to purchase up to an additional $75M.
Hawaiian Electric to pay $1.91B in Maui wildfire settlement; 4 annual installments starting mid-2025
Total settlement contribution of $1.91B (after $75M credit) to be paid in 4 equal annual installments.
HEI enters into $250M at-the-market equity distribution agreement
Up to $250M of common stock may be sold through Wells Fargo, Barclays, and Guggenheim as agents.
Hawaiian Electric extends PAR fuel contract to Jan 2029; revises LSFO pricing to dual-index
Term extended through January 31, 2029 with automatic one-year renewals unless 120-day notice.
HEI posts $1.30B Q2 net loss on $1.71B wildfire liability accrual; going concern risk disclosed
2Q24 net loss of $1.30B ($11.74 per share) includes $1.71B accrual for estimated Maui wildfire tort liabilities.
HEI and Hawaiian Electric agree to pay $1.99B in Maui wildfire tort settlement
Total settlement of $4.037B includes HEI/Hawaiian Electric's $1.99B pre-tax contribution (four annual installments starting mid-2025).
ASB Q2 net loss $45.8M on $66.1M goodwill impairment; strategic review ongoing
Net loss $45.8M includes after-tax goodwill impairment of $66.1M related to HEI's strategic review of ASB.
ASB posts Q2 net loss of $45.8M on $66.1M goodwill impairment; core net income $20.7M
Net loss of $45.8M includes $66.1M after-tax goodwill impairment tied to HEI strategic review of ASB.
Hawaiian Electric enters $250M ABL facility secured by utility receivables, pending PUC approval
Facility allows borrowings up to $250M on a revolving basis using accounts receivable as collateral.
HEI Q1 net income falls to $42.1M from $54.7M; core EPS $0.45
Net income $42.1M ($0.38 EPS) versus $54.7M ($0.50) YoY; core net income $49.3M.
American Savings Bank Q1 2024 net income $20.9M, up 12.8% YoY; releases Maui wildfire reserves
Net income $20.9M vs $18.6M in Q1 2023 (+12.8%); core net income also $20.9M.
HEI reports 2023 net income of $199M, down 17% YoY; dividend cut to $1.08
Net income for common stock $199.2M vs $241.1M in 2022; diluted EPS $1.81 vs $2.20.
Full-year net income $199.2M ($1.81 diluted EPS) vs $241.1M ($2.20) in 2022; included $14.1M after-tax wildfire expenses and $11.0M after-tax securities loss.
American Savings Bank 2023 net income $53.4M, down 33% YoY; Q4 net $3.2M after repositioning loss
2023 net income $53.4M vs $80.0M in 2022; core net income (ex-wildfire & repositioning) $72.6M.
Hawaiian Electric's Waiau repower project (253 MW) selected for next stage of procurement
Proposal to replace six aging fossil-fuel generators at Waiau (253 MW) selected to advance in PUC procurement for firm renewable generation on Oʻahu.
HEI Q3 EPS $0.37 vs $0.57 YoY; $27.6M pre-tax Maui wildfire-related costs
Consolidated net income $41.1M ($0.37 diluted EPS) vs $62.1M ($0.57) in Q3 2022; core net income $61.5M ($0.56) excludes wildfire costs.
American Savings Bank Q3 net income $11.4M, down 45% QoQ; Maui wildfire costs $8.6M
Net income $11.4M vs $20.2M linked quarter; core net income (ex-wildfire costs) $17.6M.
HEI and Hawaiian Electric announce CFO changes: Ito moves to utility, DeGhetto joins HEI
Tayne Sekimura retires Sep 30 after 32 years; Paul Ito becomes Hawaiian Electric CFO until ~Dec 31, 2024, then returns to HEI.
Morning Fire at 6:30am on Aug. 8 caused by downed power lines; Maui County FD reported it contained by 9am and extinguished.
HEI suspends quarterly dividend, draws $370M from credit lines amid Maui wildfire recovery
HEI drew $170M and Hawaiian Electric drew $200M under revolving unsecured credit facilities; proceeds in short-term investments.
As of Aug 17, ~1,900 West Maui customers still without power; >80% of affected customers restored.
HEI Q2 net income $54.6M, EPS $0.50 vs $0.48 YoY; utility and bank both improve
Q2 2023 net income $54.6M ($0.50 diluted EPS) vs $52.5M ($0.48) in Q2 2022, a 4% EPS increase.
Paul K. Ito was appointed Senior Vice President, CFO and Treasurer of Hawaiian Electric and will resign as Executive Vice President, CFO and Treasurer of Hawaiian Electric Industries, Inc. (HEI) effective as of October 1, 2023.
Scott DeGhetto (60) was appointed Executive Vice President, CFO and Treasurer of HEI effective October 1, 2023.
In connection with the retirement of Tayne Sekimura as Senior Vice President, Chief Financial Officer (CFO) and Treasurer of Hawaiian Electric Company, Inc. (Hawaiian Electric) on September 30, 2023,
will resign as Executive Vice President, CFO and Treasurer of Hawaiian Electric Industries, Inc. (HEI) effective as of October 1, 2023.
Max materiality 1.00 · Median 0.75 · Most common event earnings