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

HEI Posts 2024 Net Loss of $1.4 Billion on Maui Wildfire Liability Accrual

Negative Impact 4 of 5 earnings Written later

HEI reported a 2024 net loss of $1,426 million, or $11.23 per share, compared with net income of $199 million, or $1.81 per share, in 2023. The result reflects a $1,875 million utility charge for estimated wildfire liabilities from tort-related claims as of December 31, 2024; excluding special items, core income from continuing operations was $124 million, or $0.98 per share, versus $152 million, or $1.38 per share, a year earlier. The filing also cites a February 10, 2025 Hawaii Supreme Court decision that the company says clarifies the path toward resolving the Maui wildfire tort litigation, and the utility dividend to HEI remains suspended.

Key points

  • Full-year 2024 net loss of $1,426 million ($11.23 per share) vs. net income of $199 million ($1.81 per share) in 2023
  • Core income from continuing operations of $124 million ($0.98 per share) vs. $152 million ($1.38 per share) in 2023
  • Fourth quarter 2024 net loss of $68 million ($0.40 per share) vs. net income of $49 million ($0.44 per share) in Q4 2023
  • Utility recorded a $1,875 million loss from accrual of estimated wildfire liabilities as of December 31, 2024, net of insurance recoveries

The filing

CompanyHawaiian Electric Industries (HE)
Form8-K, current report
Filed with the SECFeb 21, 2025, 4:06 PM ET
Accession number0000354707-25-000008

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:58 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 February 21, 2025.

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.