Filing Flows › Hawaiian Electric Industries (HE) › Q4 2024
Hawaiian Electric Industries (HE) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Feb 24, 2025
Hawaiian Electric Industries (HE) reported revenue of $799M for the fourth quarter 2024 (Q4 2024), -6% from a year earlier and -4% from the quarter before. Operating margin was 6.7%, net loss $67.8M (8.5% of revenue).
Hawaiian Electric Industries, Q4 2024: revenue $799M (-6% year over year), operating margin 6.7%, net loss $67.8M, operating cash flow $137M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $799M | -4% | -6% |
| Operating profit | $53.7M | — | — |
| Net earnings | −$67.8M | — | — |
| Operating cash flow | $137M | -13% | +79% |
| Free cash flow | $49.2M | -38% | — |
What changed
Revenue was $799.2M in Q4 2024, down 6% year over year and down 4% from the previous quarter. Electric energy sales - large light and power was the largest line at 35% of revenue.
Operating profit was $53.7M, a 6.7% margin (down 2.0 points year over year). Total costs fell 4% while revenue fell 6%. The quarter ended with a net loss of $67.8M, narrower than the previous quarter's $103.9M loss. Net interest and other expense of $113.3M was the main reason.
Operating cash flow was $136.6M (up 79% year over year). Non-cash charges added back $73.4M of depreciation and amortization and $430K of share-based compensation. Working capital and other items added $130.5M. Capital expenditures of $87.3M left free cash flow of $49.2M.
Questions
What was Hawaiian Electric Industries' revenue in the fourth quarter 2024?
Hawaiian Electric Industries (HE) reported revenue of $799M for the fourth quarter 2024 (Q4 2024), -6% from a year earlier and -4% from the quarter before.
Was Hawaiian Electric Industries profitable in the fourth quarter 2024?
Operating profit was $53.7M (6.7% of revenue) and net loss $67.8M.