Hawaiian Electric Industries (HE) FY2024 results: revenue $3.2 billion, down 2.1% on the year
Hawaiian Electric Industries Inc. (HE) reported revenue of $3.2 billion for fiscal 2024, the year ended 31 December 2024, down 2.1% on the year before. Net income was -$1.4 billion, and diluted earnings per share $-11.23. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2025.
Revenue
$3.2 billion
-2.1% on the year
FY2017FY2024
Operating margin
-53.0%
8.4% a year earlier
FY2017FY2024
Net income
-$1.4 billion
FY2017FY2024
Diluted EPS
-$11.23
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
487
551
454
-11.6%
Capital expenditure
344
443
339
-22.2%
Free cash flow
143
109
115
+31.7%
Free cash flow margin
4.4%
3.3%
3.4%
Cash from investing
258
-257
-1,129
Cash from financing
155
196
568
-20.9%
Depreciation and amortisation
294
282
270
+4.0%
Share-based compensation
3.6
6.8
7.5
-47.0%
Dividends paid
0.0
74.0
111
Dividend per share
n/a
$1.08
$1.40
Diluted shares, weighted
127m
110m
110m
+15.3%
Shares outstanding at period end
172m
110m
109m
+56.6%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
1,479
2,345
2,202
-36.9%
Redeemable equity
34.3
34.3
34.3
0.0%
Deposits
n/a
8,146
8,170
Debt
2,848
2,842
3,253
+0.2%
Operating lease liabilities
56.5
70.0
n/a
-19.2%
Finance lease liabilities
427
331
n/a
+28.8%
Other liabilities
4,087
n/a
2,625
Total liabilities and equity
8,931
7,677
16,284
+16.3%
Fixed assets
6,134
5,963
5,687
+2.9%
Goodwill
n/a
82.2
82.2
Securities held for sale or to maturity
n/a
2,338
2,681
Loans
n/a
6,106
5,907
Cash and equivalents
751
244
43.7
+207.5%
Receivables
457
547
n/a
-16.4%
Other assets
1,589
n/a
1,883
Total assets
8,931
7,677
16,284
+16.3%
10-K for the year ended 31 December 2024, filed 24 February 2025: the filing.