Hawaiian Electric IndustriesNYSE: HE

Utility stocks have historically been defensive, dividend-focused plays, but so far this year, utilities have become a hot sector among more aggressive investors. This is largely because of the impact of the AI revolution on electricity demand.

Hawaiian Electric (NYSE: HE) power outages have impacted a large number of customers on the island of O'ahu, with nearly 13,000 customers experiencing disruptions.

Hawaiian Electric Industries, Inc. (HE) Q4 2023 Earnings Call Transcript

CNBC found evidence of safety shortcomings in the public utility sector and a lack of state oversight.

Electricity provider Hawaiian Electric on Monday said it was advancing a plan to replace six fossil-fuel generators at a major power plant with renewable energy sources as it transitions to cleaner power generation.

Hawaiian Electric beat analyst expectations with preliminary numbers. However, the company said it would not be able to file SEC documents in a timely manner.

Hawaiian Electric Industries, Inc. HE reported earnings per share (EPS) of 56 cents in the third quarter of 2023, meeting the Zacks Consensus Estimate. The bottom line, however, dropped 1.7% from 57 cents reported in the prior-year quarter.

Hawaiian Electric Industries (HEI) told investors the fundamentals of its business remain strong months after deadly wildfires on Maui that are alleged to have started after it failed to de-energize its power lines. Reporting third-quarter results, Hawaii's largest supplier of electricity said while it suffered utility equipment damage and lost the branch of its ASB subsidiary in the town of Lahaina in the August fires, both its electric utility and the bank have made the necessary adjustments to continue serving the people of Maui.

Hawaiian Electric Industries, Inc. (NYSE:HE ) Q3 2023 Earnings Conference Call November 9, 2023 4:30 PM ET Company Participants Mateo Garcia – Director-Investor Relations Scott Seu – President and Chief Executive Officer Scott Deghetto – Executive Vice President, Chief Financial Officer and Treasurer Shelee Kimura – President and Chief Executive Officer-Hawaiian Electric Company, Inc. Paul Ito – Chief Financial Officer Conference Call Participants Mike Lonegan – Evercore Julien Dumoulin-Smith – Bank of America Paul Patterson – Glenrock Associates Operator Good day, everyone, and welcome to the Hawaiian Electric Industries Third Quarter 2023 Earnings Call. Today's call is being recorded and all lines have been placed on mute to prevent any background noise.