Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Hawaiian Electric (HE)
NYSE:HE
Holding HE?
Track your performance easily
Earnings Data
Report Date
Feb 18, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.35Last Year’s EPS
$0.48Same Quarter Last Year
Based on 3 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 08, 2024
|% Change Since: -7.14%
|Next Earnings Date:Feb 18, 2025
Earnings Call Sentiment|Neutral
The earnings call outlined both positive advancements in wildfire settlement and mitigation efforts, strong bank performance, and resolution of a going concern issue. However, these were offset by significant onetime losses, decreased utility income, and strategic challenges at Pacific Current.Company Guidance
During the third quarter 2024 earnings call for Hawaiian Electric Industries, Inc. (HE), several key metrics and updates were discussed. The company announced a definitive settlement agreement totaling $1.99 billion pretax related to the Maui wildfire tort litigation, with payments spread over four annual installments starting in late 2025. The quarter recorded a consolidated net loss of $104.4 million, or $0.91 per share, including a $203 million pretax loss for wildfire liabilities and a $35.2 million pretax asset impairment at Pacific Current. Utility core net income was $43.7 million, down from $53.8 million the previous year, driven by higher operations and maintenance expenses. The bank segment reported core net income of $19.4 million, an increase from $17.6 million year-over-year, attributed to a lower provision for credit losses and higher noninterest income. Cash on hand at the holding company and utility stood at $678 million and $148 million, respectively, bolstered by a recent equity issuance that raised $558 million.Definitive Settlement Agreement for Maui Wildfire
HEI announced a definitive settlement agreement for the Maui wildfire tort litigation, contributing a total of $1.99 billion pretax in four annual installments.
Wildfire Mitigation Progress
Hawaiian Electric has rapidly advanced wildfire mitigation efforts including the launch of a public safety power shutoff program, deployment of 55 new weather stations, and installation of 39 AI-enhanced video cameras.
Strong Bank Performance
American Savings Bank continued to perform well, generating strong net income and profitability with a stable deposit base, where 83% of deposits are FDIC insured or fully collateralized.
Resolution of Going Concern Issue
HEI resolved the going concern issue disclosed last quarter, with sufficient liquidity to fund the first settlement payment.
---
HE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
HE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 08, 2024 | $10.64 | $9.97 | -6.30% |
| Aug 09, 2024 | $15.50 | $13.26 | -14.45% |
| May 10, 2024 | $9.99 | $10.99 | +10.01% |
| Feb 13, 2024 | $13.11 | $12.47 | -4.88% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Hawaiian Electric (HE) report earnings?
Hawaiian Electric (HE) is schdueled to report earning on Feb 18, 2025, TBA Not Confirmed.
What is Hawaiian Electric (HE) earnings time?
Hawaiian Electric (HE) earnings time is at Feb 18, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HE EPS forecast?
HE EPS forecast for the fiscal quarter 2024 (Q4) is $0.35.
---