Hawaiian Electric Industries, Inc. reports on the financial performance and regulatory developments of its electric utility business in Hawaii. Its utility, Hawaiian Electric, supplies power to approximately 95% of Hawaii’s population and is focused on renewable energy progress, decarbonization, grid modernization, hardening, resilience and public safety.
Recurring HE news includes quarterly and annual results, operations and maintenance costs, storm response, insurance and power supply expenses, liquidity, credit ratings and utility financing. Company updates also cover Maui wildfire-related expenses and settlement obligations, wildfire safety strategy, Public Utilities Commission matters, renewable portfolio standard progress and capital actions tied to utility infrastructure investment.
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Hawaiian Electric Industries, Inc. (HEI) is set to announce its first quarter 2023 financial results on May 9, 2023. The company will hold a conference call at 10:15 a.m. Hawaii time to discuss consolidated earnings and 2023 guidance. American Savings Bank, a subsidiary of HEI, will report its results on April 28, 2023. Investors can access the call through a dial-in number or by visiting HEI's website. The replay of the call will be available online for an extended period after the event. HEI, along with Hawaiian Electric, aims to keep investors informed via its website and SEC filings. The company plays a crucial role in Hawaii's economy, providing energy and financial services while focusing on sustainable initiatives.
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Hawaiian Electric Industries (HEI) reported a consolidated net income of $241.1 million for 2022, with a diluted EPS of $2.20, down from $246.2 million and $2.25 in 2021. The utility achieved strong financials amid regulatory changes and inflation challenges, including the transition to a coal-free energy source. The quarterly dividend increased to $0.36 per share. Notably, American Savings Bank (ASB) saw a significant 15% growth in loans, despite a net income drop to $80 million from $101.2 million. The bank's credit quality remained strong with the lowest net charge-off ratio since 2014.