HAWAIIAN ELECTRIC CO INC

For the period ended Mar 31, 2024. Filed May 10, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 10, 2024

HE$9.08+0.1%Stored close · as of Nov 10, 2026

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Contents

Item 1. Financial Statements

Condensed Consolidated Statements of Income (unaudited)

(in thousands, except per share amounts)	2024	2023
Revenues
Electric utility	$788,578	$830,361
Bank	105,144	93,857
Other	3,436	4,019
Total revenues	897,158	928,237
Expenses
Electric utility	725,223	754,486
Bank	79,612	70,337
Other	15,904	9,896
Total expenses	820,739	834,719
Operating income (loss)
Electric utility	63,355	75,875
Bank	25,532	23,520
Other	(12,468)	(5,877)
Total operating income	76,419	93,518
Retirement defined benefits credit—other than service costs	1,282	1,152
Interest expense, net—other than on deposit liabilities and other bank borrowings	(31,591)	(28,798)
Allowance for borrowed funds used during construction	1,386	1,131
Allowance for equity funds used during construction	3,640	3,301
Interest income	3,133	—
Income before income taxes	54,269	70,304
Income taxes	11,674	15,110
Net income	42,595	55,194
Preferred stock dividends of subsidiaries	473	473
Net income for common stock	$42,122	$54,721
Basic earnings per common share	$0.38	$0.50
Diluted earnings per common share	$0.38	$0.50
Weighted-average number of common shares outstanding	110,218	109,514
Net effect of potentially dilutive shares (share-based compensation programs)	258	311
Weighted-average shares assuming dilution	110,476	109,825

ContentsView on SEC.gov

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