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. (HE) serves as Hawaii's primary energy provider, delivering regulated electricity services to 95% of the state's population through its utility subsidiaries. This dedicated news hub consolidates all material developments affecting the company's operations and financial position.
Investors and stakeholders will find authoritative coverage of earnings announcements, regulatory filings, infrastructure investments, and sustainability initiatives. The curated selection includes press releases on rate adjustments, grid modernization projects, and strategic partnerships that shape Hawaii's energy future.
Key updates span operational milestones, regulatory compliance achievements, and financial performance metrics. Content is rigorously verified to ensure alignment with SEC disclosure standards and industry reporting best practices.
Bookmark this page for streamlined access to HE's latest corporate developments, executive commentary, and market-moving announcements. Cross-reference updates with regulatory documents through provided source links for complete due diligence.
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Hawaiian Electric Industries, Inc. (HEI) reported a full-year net income of $199.2 million and diluted earnings per share of $1.81 for 2023, including expenses related to Maui wildfires and balance sheet repositioning. Despite challenges, core businesses performed well, with the utility focusing on resilience work in West Maui. ASB also strengthened its balance sheet through the sale of low-yielding securities. HEI's dividend was reduced to support utility operations. ASB reported a net income of $53.4 million for 2023, with a focus on balance sheet optimization and improved profitability.
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American Savings Bank, F.S.B. (ASB) reported a net income of $53.4 million in 2023, compared to $80.0 million in 2022. The net income included $8.3 million of Maui wildfire-related expenses after tax and an $11.0 million after-tax loss on the sale of investment securities. The bank maintained a strong liquidity position and support of a loyal, long-tenured deposit base. Net interest income was $252.0 million in 2023, compared to $252.6 million in 2022. Noninterest income for 2023 was $45.4 million compared to $57.0 million in 2022. Total earning assets were $9.2 billion as of December 31, 2023, up 0.50% from December 31, 2022.
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Hawaiian Electric Industries, Inc. (HEI) will announce its Q4 and full year 2023 financial results on February 13, with a webcast and conference call to discuss the results. American Savings Bank, F.S.B. (ASB), a subsidiary of HEI, will also announce its financial results on January 30. The conference call details and presentation materials can be accessed on HEI's website.
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Hawaiian Electric Company, Inc. (HEI) has announced the selection of its proposal to replace aging fossil-fuel generators at its Waiau Power Plant with more efficient, fuel-flexible units. The 253-megawatt project is part of a competitive procurement process for firm renewable generation on Oʻahu, and will be the largest generation project in the company's 132-year history. The project aims to transition to cleaner renewable fuels and is expected to result in significant cost savings over 30 years.
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Hawaiian Electric Industries, Inc. (NYSE - HE) reported a 3Q23 net income of $41.1M and EPS of $0.37, with $27.6M of pre-tax Maui wildfire-related expenses. Core businesses are performing well, and ASB HONOLULU maintains solid credit quality and capital position.
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Hawaiian Electric Industries, Inc. (NYSE: HE) announces the One 'Ohana Initiative, a $150 million fund to support families affected by the recent fires in Hawaii. The initiative provides expedited substantial payments to families who have lost a loved one or were severely injured, aiming to support their healing and a path forward. Hawaiian Electric will contribute up to $75 million to the fund, funded by insurance, not customers.
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American Savings Bank, F.S.B. (ASB), a subsidiary of Hawaiian Electric Industries, reported 3Q 2023 net income of $11.4 million, compared to $20.2 million in 2Q 2023 and $20.8 million in 3Q 2022. Core net income for 3Q 2023 was $17.6 million. Net interest income was $62.6 million, and net interest margin was 2.70%. Provision for credit losses was $8.8 million. Noninterest income was $15.3 million, and noninterest expense was $56.3 million. Total loans were $6.2 billion, and total deposits were $8.2 billion. Return on average equity was 9.2%, and return on average assets was 0.47%. ASB had a Tier 1 leverage ratio of 7.7%.
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Hawaiian Electric Industries, Inc. (HEI) will announce its Q3 2023 financial results on November 9. American Savings Bank, F.S.B. (ASB) will announce its Q3 2023 financial results on October 30. HEI will discuss earnings guidance and regulatory matters in a conference call.
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HEI announces leadership plans at Hawaiian Electric Company, with CFO Tayne Sekimura retiring on September 30, 2023. Paul Ito will serve as SVP, CFO & treasurer of Hawaiian Electric until approximately December 31, 2024. Scott DeGhetto appointed EVP, CFO & treasurer of HEI from October 1, 2023, through December 31, 2024. Positive: Smooth transition in leadership. Negative: No significant negative impact expected.
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Hawaiian Electric responds to lawsuit filed by County of Maui regarding fires in West Maui. Power lines were de-energized at the time of the second fire. Company stands ready to work with communities. Lawsuit may leave no choice but to show responsibility in legal system.
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Hawaiian Elec Industries
NYSE:HE
HE Rankings
HE Stock Data
1.80B
172.20M
0.2%
72.78%
8.98%
Utilities - Regulated Electric
Electric Services
United States
HONOLULU