You can divide these utilities to sell into three categories. First, there are utility stocks with larger issues, which counter the possible AI-related tailwind. Second, some utilities do not benefit from this growth trend. Here's an example of each one, with three utility stocks to sell. Source: snvv18870020330 / Shutterstock.com Over the past year, HE stock has fallen in price by over 70%. On a screener, shares may look like a steal, with a forward price-to-earnings (P/E) ratio of just 5.8. However, there ...

HEI Exhibit 99 NEWS RELEASE May 10, 2024 Contact: Mateo Garcia Telephone: (808) 543-7300 Director, Investor Relations E-mail: ir@hei.com HEI REPORTS FIRST QUARTER 2024 RESULTS 1Q24 Net Income of $42.1 million and Diluted Earnings Per Share (EPS) of $0.38 HONOLULU - Hawaiian Electric Industries, Inc. (NYSE - HE) (HEI) today reported consolidated net income for common stock for the first quarter of 2024 of $42.1 million and EPS of $0.38 compared to $54.7 million and EPS of $0.50 for the first quarter of 2023. ...

Financial Performance - HEI's revenues for Q1 2024 were $897.158 million, a decrease of 3% compared to $928.237 million in Q1 2023, primarily due to declines in the electric utility and other segments, partially offset by an increase in the bank segment [251]. - Operating income for Q1 2024 was $76.419 million, down 18% from $93.518 million in Q1 2023, driven by lower performance in the electric utility segment and higher operating losses in the other segment [251]. - Net income for common stock in Q1 2024 was $42.122 million, a 23% decrease from $54.721 million in Q1 2023, attributed to lower net income in the electric utility segment and higher losses in the other segment [251]. - Revenues for the three months ended March 31, 2024, were $789 million, a decrease of $41 million (approximately 4.9%) compared to $830 million in the same period of 2023 [304]. - Net income for common stock decreased to $39 million, down $8 million (approximately 17.0%) from $47 million in the prior year [304]. Expenses and Losses - The Company incurred approximately $169 million in expenses related to the Maui windstorm and wildfires from August 8, 2023, to March 31, 2024, with $58 million and $135 million of insurance coverage remaining under excess liability and directors and officers liability policies, respectively [255]. - Operating and maintenance expenses increased by approximately $16 million, or 12%, in Q1 2024 compared to the same period in 2023 [292]. - ASB incurred additional expenses of $1.8 million related to the Maui wildfires, primarily for professional services [390]. - Total expenses increased by $10 million to $80 million for the three months ended March 31, 2024, primarily due to higher interest and noninterest expenses [398]. Sales and Revenue Segments - kWh sales for the Utility in Q1 2024 decreased by 1.5% compared to Q1 2023, primarily due to the impact of the Maui windstorm and wildfires and ongoing energy efficiency measures [244]. - The "Other" segment reported revenues of $3,436,000 in Q1 2024, down from $4,019,000 in Q1 2023, with an operating loss of $12,468,000 compared to $5,877,000 in the prior year [266]. - kWh sales volume decreased by 1.5% in Q1 2024 compared to Q1 2023, with Maui consumption down 6.3% [293]. Economic Indicators - The inflation rate as of March 31, 2024, was 3.5%, with ongoing inflationary pressures expected to affect operational and capital project costs [247]. - Hawaii's unemployment rate in March 2024 was 3.1%, up from 2.9% in March 2023, while the national rate was 3.8% [259]. - The consumer price index in Hawaii increased by 4.8% over the last 12 months as of March 2024 [295]. Banking and Financial Metrics - The net interest margin for the Bank in Q1 2024 was 2.75%, an increase from 2.63% in the previous quarter but lower than 2.85% in Q1 2023, influenced by higher interest rates and funding costs [245]. - ASB's average core deposits decreased by approximately 1.8% from year-end 2023, leading to increased overall funding costs, with expectations of a flat to declining deposit base due to the higher interest rate environment [246]. - ASB's loan portfolio decreased by $65 million compared to the end of 2023, primarily due to payoffs and reduced demand for home equity lines of credit and consumer loan products [393]. - ASB's deposits decreased by $141 million in 2024, with a weighted average cost of interest-bearing deposits rising to 1.27% from 0.51% in 2023 [405]. Capital Structure and Cash Flow - As of March 31, 2024, HEI's cash and cash equivalents were $127 million, down from $137 million at the end of 2023 [274]. - HEI's consolidated capital structure as of March 31, 2024, included long-term debt of $2,838 million (54%), common stock equity of $2,377 million (45%), and total capital of $5,249 million [281]. - Net cash provided by operating activities for the first three months of 2024 was $125 million, primarily driven by $127 million from Utilities customer cash receipts [283]. - Net cash used in financing activities during the same period was $311 million, mainly due to net decreases in ASB's other bank borrowings and deposit liabilities [283]. Renewable Energy and Environmental Goals - The Utilities aim to achieve net zero carbon emissions from power generation by 2045 or sooner, with significant progress already made towards this goal [314]. - The Utilities have committed to a 70% reduction in carbon emissions from power generation by 2030, although this target may be delayed due to various challenges [313]. - The Utilities achieved a renewable portfolio standard (RPS) of 33.3% in 2023, earning a reward of $444,116 for exceeding the 33.0% target [319]. - The Integrated Grid Plan, accepted by the PUC on March 7, 2024, outlines actionable steps to achieve a decarbonized electric grid in Hawaii, forecasting future energy needs with 100% renewable resources [324]. Infrastructure and Development - Hamakua Energy plans to install a new combustion turbine in May 2024 at a total capital cost of approximately $8.3 million [267]. - The rebuilding of Lahaina's electric utility infrastructure is expected to incur significant costs, with new strategies to mitigate wildfire risks being considered [373]. - The Utilities received notification of a $95 million federal funding application under the Infrastructure Investment and Jobs Act, selected for negotiations [300]. Credit and Loan Performance - The allowance for credit losses at the end of Q1 2024 was $71.057 million, down from $74.372 million at the beginning of the period [412]. - ASB recorded a negative provision for credit losses of $1.2 million for the first three months of 2024, primarily due to the release of $1.5 million of credit loss reserves [411]. - The ratio of net charge-offs during the period to average loans outstanding was 0.14% for Q1 2024, consistent with the previous quarter [412].

Hawaiian Electric (NYSE:HE) power outages are affecting a massive number of the power company’s customers on the island of O’ahu.Almost 13,000 customers were affected by these Hawaiian Electric power outages. The company has since restored service to many of them. However, there are still about 1,800 customers that don’t have power back yet.Hawaiian Electric is working on restoring power to those customers. The company is using a helicopter to scout the island and come up with a plan of repair. It expects t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Exact Name of Registrant Commission I.R.S. Employer as Specified in Its Charter File Number Identification No. Hawaiian Electric Industries, Inc. 1-8503 99-0208097 Hawaiian Electric Company, Inc. 1-4955 9 ...

Unemployment Rate & Visitor Arrivals (In millions) Visitor Arrivals Unemployment Rate $25,000 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------|----------------------------------------------|-------------------|------------|-----------------|---------|--------|--------------------------|-----------------|-------| | | | | | | | | | | | | (In thousands ) 12,000 | Full year 2023: 9.6M | Dec. 2023: 2.9% | % 14 | | | | | $19,699 $20,777 | | | 10,000 | | | 12 | $20,000 | $17 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Exact Name of Registrant as Specified in Its Charter Commission File Number I.R.S. Employer Identification No. HAWAIIAN ELECTRIC INDUSTRIES, INC. 1-8503 99-0208097 and Principal Subsidiary HAWAII ...

1. Includes other post-employment benefits and excludes pension nonservice retirement benefits. Stable NIM Compared to Peers Despite Industry-wide Impacts from Higher Funding Costs | --- | --- | --- | |------------------------------|---------|---------------------| | Fire Impact Zone \nLoan Type | Balance | Total \nExposure 1 | | Resi 1-4 | $16.3 | $16.3 | | HELOC 1st Lien | $1.8 | $5.4 | | HELOC 2nd Lien | $2.2 | $5.0 | | Cons. Unsec., Credit Scored | $5.1 | $7.5 | | Commercial & Industrial | $6.1 | $6.1 | ...

HEI 2Q23 Financial Results August 7, 2023 2 Progressing decarbonization while laying the groundwork for reliable, resilient and affordable clean energy ✓ Filed final Integrated Grid Plan (IGP) in May ✓ Stage 3 RFP progressing, bids being evaluated • Ahead of schedule on smart meter deployment; 285k advanced meters now service 60% of customers ASB continues to be well-positioned within the industry, performing well in Hawaii's stable banking market ✓ Excellent credit quality • Liquidity approximately 3x unin ...

Hawaiian Electric Industries, Inc. (NYSE:HE) Q2 2023 Earnings Conference Call August 7, 2023 4:15 PM ET Company Participants Mateo Garcia - Investor Relations Scott Seu - President and Chief Executive Officer Paul Ito - Chief Financial Officer Shelee Kimura - President and Chief Executive Officer, Hawaiian Electric Ann Teranishi - President and Chief Executive Officer, American Savings Bank Conference Call Participants Julien Dumoulin-Smith - Bank of America Paul Patterson - Glenrock Associates Jonathan Ree ...