NYSE:HE - New York Stock Exchange, Inc. - US4198701009 - Common Stock - Currency: USD
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.
The fire that razed the historic Maui town of Lahaina last year was caused when Hawaiian Electric Industries Inc. re-energized broken utility lines that caused sparks to ignite unmaintained dry vegetation, the Maui Fire Department said.
Central Pacific Financial Corp. is in talks to raise money from some well-known alternative asset managers to help buy rival American Savings Bank FSB from Hawaiian Electric Industries Inc., the utility owner grappling with huge losses in the aftermath of last year’s wildfires on Maui, according to people familiar with the matter.
Mentions: CPF
July's optimism over a settlement gave way to more uncertainty in August.