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Hawaiian Electric’s 4th quarter profit down 15%

COURTESY HAWAIIAN ELECTRIC CO.

Hawaiian Electric Industries, the parent company for Hawaii’s major utilities Hawaiian Electric Co., Maui Electric Co. and Hawaii Electric Light, and American Savings Bank, said Thursday that fourth quarter net income was $33.2 million with earnings per share of 32 cents versus $39 million the year before.

For the year, the company reported a profit of $168.3 million, up four percent from $161.5 million in 2013.

In the press release, HEI said costs related to the pending merger with NextEra Energy Inc. for the company totaled $4.9 million.

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