comscore Higher profits at Hawaiian Electric Industries | Honolulu Star-Advertiser
Top News

Higher profits at Hawaiian Electric Industries

Honolulu Star-Advertiser logo
Unlimited access to premium stories for as low as $12.95 /mo.
Get It Now

Hawaiian Electric Industries Inc.’s earnings rose sharply in the second quarter, largely reflecting the timing of a rate increase at its main utility subsidiary that wasn’t in effect for the comparable quarter a year earlier.

HEI earned $38.8 million, or 40 cents a share in the April-to-June quarter, up from $27.1 million, or 28 cents a share during the same period a year earlier, the company reported today.

Hawaiian Electric Co. and affiliates Maui Electric Co. and Hawaii Electric Light Co. earned a combined $29.4 million in the second quarter, up 73 percent from the $17.0 million they earned during the second quarter of 2011.

Today’s financial report included results for American Savings Bank that HEI originally reported on Tuesday. American Savings earned $14.2 million in the second quarter compared with $15.2 million in the year-earlier period.

Comments have been disabled for this story...

Click here to see our full coverage of the coronavirus outbreak. Submit your coronavirus news tip.

Be the first to know
Get web push notifications from Star-Advertiser when the next breaking story happens — it's FREE! You just need a supported web browser.
Subscribe for this feature

Scroll Up