Hawaiian Electric Industries is a company primarily engaged in the generation, transmission, and distribution of electricity in Hawaii
It provides essential energy services to residential and commercial customers, focusing on delivering reliable power while committing to sustainability and the integration of renewable energy sources. The company also has interests in financial services, offering a range of banking and insurance products to local customers. With a dedicated approach to supporting Hawaii's unique environment and community needs, Hawaiian Electric Industries plays a vital role in the state's energy landscape and economic development.
Operational expenses rose during the quarter and fiscal year 2024, weighing on the company’s net income throughout the year. Some of these expenses were related to prevention measures established by the company in light of the Maui wildfires in 2023.
Hawaiian Electric shares are trading lower Tuesday after the company announced a secondary offering of 54 million shares of its common stock at a price of $9.25 per share. Here's a look at what's going on:
After the market ended at a fresh record on Monday, traders have positioned themselves for more gains. The index futures are modestly higher early Tuesday. China, the second largest economy in the world, decided to go bold, with the nation’s central bank announcing a series of stimulatory measures. This has sent commodities soaring, given China is a commodity-guzzling country.
The resilience of the market was in full display on Monday after last week’s “historical comeback” by the market. The major index futures traded higher, albeit by a modest magnitude.
HE stock results show that Hawaiian Electric Indus missed analyst estimates for earnings per share and missed on revenue for the second quarter of 2024.
