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Mar 31, 2024
Hawaiian Electric Q1 2024 Earnings Report
Hawaiian Electric Industries reported consolidated net income for common stock of $42.1 million and EPS of $0.38 for Q1 2024.
Key Takeaways
Hawaiian Electric Industries reported a net income of $42.1 million and EPS of $0.38 for the first quarter of 2024, compared to $54.7 million and EPS of $0.50 in the same quarter of the previous year. American Savings Bank's net income was $20.9 million, reflecting the release of Maui wildfire-related reserves. The utility's net income was $39.2 million, impacted by higher O&M expenses and heat rate performance, offset by higher revenues.
HEI reported Q1 2024 net income of $42.1 million and EPS of $0.38.
Hawaiian Electric's net income was $39.2 million, influenced by increased O&M expenses and heat rate performance.
American Savings Bank's net income was $20.9 million, benefiting from strategic balance sheet repositioning and release of Maui wildfire-related reserves.
The holding and other companies reported a net loss of $18.0 million, primarily due to wildfire-related expenses and lower Pacific Current net income.
Hawaiian Electric
Hawaiian Electric
Hawaiian Electric Revenue by Segment
Revenue by Segment
Electric Utility Revenue
CapyFin.comOther Segment Revenue
CapyFin.com Forward Guidance
No specific forward guidance was provided in the release.
Revenue & Expenses
Visualization of income flow from segment revenue to net income