Hawaiian Electric Industries shares are trading lower after the company reported worse-than-expected Q2 adjusted EPS results and a year-over-year decrease in Q2 sales results. Also, a report suggested the company expects a $1.7 billion loss from the Maui fire pact.
Portfolio Pulse from Benzinga Newsdesk
Hawaiian Electric Industries shares are trading lower after reporting worse-than-expected Q2 adjusted EPS results and a year-over-year decrease in Q2 sales. Additionally, the company expects a $1.7 billion loss from the Maui fire pact.
August 12, 2024 | 11:25 am
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Hawaiian Electric Industries reported worse-than-expected Q2 adjusted EPS and a year-over-year decrease in Q2 sales. The company also expects a $1.7 billion loss from the Maui fire pact.
The combination of worse-than-expected Q2 earnings, a year-over-year decrease in sales, and a significant expected loss from the Maui fire pact is likely to negatively impact investor sentiment and the stock price in the short term.
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