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AI brief of an SEC Form 8-K · Hawaiian Electric Industries (HE)

HEI Reports $104.4 Million Q3 Net Loss After $203.0 Million Wildfire Accrual

Mixed Impact 4 of 5 earnings Written later

HEI reported a third-quarter 2024 net loss of $104.4 million, or $0.91 per share, compared with net income of $41.1 million, or $0.37 per share, a year earlier. The loss includes a $203.0 million accrual for estimated Maui wildfire liabilities and a $35.2 million asset impairment at Pacific Current, while revenue rose to $938.4 million from $901.9 million. HEI also said signed settlement agreements in the Maui wildfire tort litigation resolved the going concern matter disclosed in the prior quarter.

Key points

  • Net loss of $104.4 million, or $0.91 per share, versus net income of $41.1 million, or $0.37 per share, in 3Q23
  • Total revenues of $938.4 million, up from $901.9 million in 3Q23
  • Core net income of $52.2 million, or $0.46 per share, versus $61.5 million, or $0.56 per share, in 3Q23
  • Settlement agreements finalized November 4, 2024; HEI expects to pay a total $1.92 billion in four annual installments of about $478.8 million

The filing

CompanyHawaiian Electric Industries (HE)
Form8-K, current report
Filed with the SECNov 8, 2024, 4:13 PM ET
Accession number0000354707-24-000070

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 08, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.