Hawaiian Electric Industries, Inc. (NYSE:HE) Q2 2024 Earnings Conference Call August 9, 2024 4:30 PM ET

Company Participants

Mateo Garcia - Director, IR
Scott Seu - President and CEO
Scott DeGhetto - EVP, CFO and Treasurer
Paul Ito - SVP, CFO and Treasurer

Conference Call Participants

Michael Lonegan - Evercore
Jonathan Reeder - Wells Fargo

Operator

Good afternoon. My name is Audra, and I will be your conference operator today. At this time, I would like to welcome everyone to the Q2 2024 Hawaiian Electric Industries, Inc. Earnings Conference Call. Today's conference is being recorded. All lines have been placed on mute to prevent any background noise. After the speakers remarks there’ll be a question-and-answer session. [Operator Instructions]

At this time, I would like to turn the conference over to Mateo Garcia, Director, Investor Relations. Please go ahead.

Mateo Garcia

Thank you. Welcome, everyone, to HEI's Second Quarter 2024 Earnings Call. Joining me today are Scott Seu, HEI President and CEO; Scott DeGhetto, HEI Executive Vice President, CFO and Treasurer; Shelee Kimura, Hawaiian Electric President and CEO; and Ann Teranishi, American Savings Bank President and CEO; and other members of senior management. Our earnings release and our presentation for this call are available in the Investor Relations section of our website.

As a reminder, forward-looking statements will be made on today's call. Factors that could cause actual results to differ materially from expectations can be found in our presentation, our SEC filings and in the Investor Relations section of our website. Today's presentation also includes references to non-GAAP financial measures. You should refer to the information contained in the slides accompanying today's presentation for definitional information and reconciliations of historical non-GAAP measures to the closest GAAP financial measure.

Now Scott Seu will begin with his remarks.

Scott Seu

Aloha kakou. Welcome, everyone. For today's call, I'll start with key updates regarding the Maui wildfires and the proposed settlement announced last week. I'll then touch on operational progress we've made at the utility in our ongoing efforts to mitigate risk and enhance reliability. And finally, I'll discuss American Savings Bank's results and comment briefly on HEI's review of strategic options for ASP. I'll then turn it over to Scott DeGhetto, who will walk through our second quarter financial results in more detail and discuss the financial implications of recent announcements before we open it up for questions.

Yesterday marked one year since the wildfires on Maui forever altered the lives of so many of Mauis and Hawaii's residents. We know that for many, the pain of loss is as fresh today as it was over a year ago. Our hearts remain with our friends, families, neighbors and employees, we suffered so much in the wake of last year's wildfires. It's been heartening for all of us here in Hawaii to see the many ways our community has come together to support the people of Lahaina and Upcountry Maui and to help chart a pathway forward.