Hawaiian Electric Warns About Future Viability Because of Maui Fire Costs
HAHawaiian Holdings(HA) Investopedia·2024-08-12 22:32

Key TakeawaysHawaiian Electric Industries said it might not be able to continue as a going concern because of payments needed to cover a legal settlement from the 2023 Maui wildfires.The company and its Hawaiian Electric unit don't have a plan in place to cover the 1.71billionlitigationcosts.Thecompanyreportedasecondquarterlossof1.71 billion litigation costs.The company reported a second-quarter loss of 1.3 billion, mostly related to expenses from the fires. Shares of Hawaiian Electric Industries (HE), or HEI, sank Monday after the utility operator warned it may not be ...