Welcome to our dedicated page for Hawaiian Elec Industries news (Ticker: HE), a resource for investors and traders seeking the latest updates and insights on Hawaiian Elec Industries stock.
Hawaiian Electric Industries, Inc. (HEI) (NYSE: HE) generates frequent news as a Hawaii-based utilities holding company whose primary subsidiary, Hawaiian Electric, supplies power to approximately 95% of the state’s population. News coverage of HEI often centers on its electric utility operations on Oahu, Hawaii, Maui, Molokai and Lanai, its financial performance, wildfire-related developments and its progress toward decarbonization and renewable energy goals.
Recent HEI news releases highlight quarterly and annual financial results, including detailed segment information for the electric utility and holding and other companies. These updates describe the impact of Maui wildfire tort-related claims and settlements, insurance recoveries, cost deferrals approved by the Public Utilities Commission of the State of Hawaii, and the use of non-GAAP “Core” measures that exclude specified wildfire and strategic review costs. Earnings announcements are typically accompanied by webcasts and conference calls for investors.
HEI news also covers strategic actions such as the sale of over 90% of American Savings Bank, the sale of Pacific Current’s Hamakua Energy plant on Hawaiʻi Island, and the sale of Pacific Current’s solar and battery storage assets on Kauai, Oahu and Maui. Additional updates describe legislative developments related to wildfire liability caps, securitization for infrastructure resilience investments and support for reliable, affordable clean energy procurement.
Investors following HE (HEI) news can expect ongoing coverage of wildfire safety strategy, grid hardening and resilience measures, renewable portfolio standard progress, credit facility amendments, debt offerings by Hawaiian Electric and regulatory decisions that shape the company’s risk profile and capital plans. Bookmark this page to monitor HEI’s official announcements, financial updates and material events reported through press releases and SEC-related disclosures.
Summary not available.
Hawaiian Electric Industries (HEI) will announce its first quarter 2021 financial results on May 7, 2021. American Savings Bank, a subsidiary of HEI, will report its results on April 30, 2021. A conference call to discuss consolidated earnings and earnings guidance will occur on May 7 at 7:30 a.m. Hawaii time. Interested parties can access the call by phone or through HEI's website. Additionally, a replay will be available online after the event until May 21, 2021. HEI serves around 95% of Hawaii's population and focuses on clean energy initiatives.
Hawaiian Electric Industries (HEI) reported consolidated net income of $197.8 million for 2020, with an EPS of $1.81, down from $217.9 million and $1.99 in 2019. The company's utility, Hawaiian Electric, saw a rise in net income to $169.3 million, driven by cost savings and solar integrations, enhancing community support during the pandemic. American Savings Bank, however, faced challenges, reporting a drop in net income to $57.6 million amid credit risks, despite record mortgage originations. HEI's board raised the quarterly dividend to $0.34 per share, yielding 3.9%.
On February 9, 2021, Hawaiian Electric Industries (HE) announced an increase in its quarterly cash dividend from $0.33 to $0.34 per share, payable on March 10, 2021, to shareholders of record as of February 25, 2021. This adjustment represents an annual rate of $1.36 per share, yielding 4.0% based on the closing price of $33.98 on the announcement date. HE has maintained uninterrupted dividend payments since 1901, reflecting its commitment to returning value to shareholders.
American Savings Bank reported a 2020 net income of $57.6 million, down from $89.0 million in 2019, with a Q4 2020 net income of $15.7 million.
Despite challenges, the bank achieved record mortgage originations and effective cost control. The net interest income decreased to $233.5 million from $248.1 million year-over-year, affected by lower interest rates. The provision for credit losses increased to $50.8 million due to COVID-19 impacts. Total loans grew by 4.4%, while deposits surged by 17.8%.
Hawaiian Electric Industries, Inc. (HE) will announce its fourth quarter and full year 2020 financial results on February 16. The company, which supplies power to 95% of Hawaii's population, will also provide 2021 earnings guidance. American Savings Bank, a subsidiary of HE, is set to announce its financial results on January 29. Investors can access earnings calls and presentation materials through HE's website. A replay of the call will be available shortly after the event, continuing until March 2, 2021.
Hawaiian Electric Industries reported a consolidated net income of $65 million for Q3 2020, with earnings per share of $0.59, up from $63.4 million and $0.58 in Q3 2019. Hawaiian Electric's net income rose to $60.1 million, benefiting from lower operations and maintenance costs and higher RAM revenues. However, American Savings Bank's net income fell to $12.2 million, impacted by reduced gains on securities sales and higher credit loss provisions. HEI maintains a quarterly cash dividend of $0.33 per share, achieving a 4.0% yield based on its recent stock price.
On November 3, 2020, Hawaiian Electric Industries, Inc. (HE) announced its quarterly cash dividend of $0.33 per share, payable on December 10, 2020, to shareholders of record by November 20, 2020. This maintains an uninterrupted dividend payout since 1901, translating to an annual rate of $1.32 per share. At a share price of $34.45, the dividend yield stands at 3.8%.
HEI serves approximately 95% of Hawaii's population and aims to support Hawaii's clean energy goals.
American Savings Bank reported a net income of $12.2 million for Q3 2020, down from $14.0 million in Q2 2020 and $22.9 million in Q3 2019. The net interest income rose to $57.3 million but was below the $62.1 million of the previous year. The provision for credit losses reached $14.0 million, including $12.3 million for pandemic-related reserves. Total loans increased by 7.3% YoY to $5.5 billion, and total deposits rose 12.2% to $7.0 billion.
Hawaiian Electric Industries, Inc. (HE) will release its third quarter 2020 financial results on November 6, 2020. American Savings Bank, a subsidiary of HE, will announce its results on October 30, 2020. A webcast and teleconference call for HE's consolidated earnings, guidance, and regulatory matters is scheduled for November 6 at 11:15 a.m. Hawaii time. The call can be accessed via phone or HE's website. HEI, serving 95% of Hawaii's population, is focused on advancing the state's clean energy goals through its non-regulated subsidiary, Pacific Current.