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

Jonathan Reeder: Hey, perhaps I did miss it in the slide, but can you let us know how much utility funded CapEx is planned for 2024 and perhaps even over, like the 2024 to 2026 period? Obviously, there’s the resiliency spending, which portion of that is going to come from the DoE funds, but it looks like you have some utility owned repowering, battery projects, stuff like that. Can you give us a sense or is that going to be laid out in the K?

Paul Ito: Hey Jonathan, this is Paul. So we are not providing guidance on CapEx, but what I would say is as we look at our liquidity, we’re managing to what we can afford in terms of our financial resources. I would say generally we would probably be on the lower end of what we have seen historically. As we mentioned, we are reprioritizing our spend to focus on critical things like wildfire mitigation, resilience. There will be some moderation in other areas as long as it doesn’t impact public safety, but again, it’s a matter of managing within our financial resources. And as Scott mentioned, we do have our facility that we’re working on. We’ve made good progress on that. So that should provide additional capital as we operate our business going forward.

Jonathan Reeder: Okay, thanks Paul. I appreciate that.

Operator: There are no further questions at this time. I will now turn the call back over to Scott Seu for any closing remarks.

Scott Seu: Thank you for joining us today and to our shareholders, thank you for your continued support and investment through these challenging times. I think all of us here at the companies, our hearts continue to be with the people of Maui, including our many customers and of course our own employees. So we’re going to support and work alongside them every step of the way. As I said earlier, I’m encouraged by the support and collaboration that has really characterized the reconstruction efforts. And we look forward to continuing our work with the community, governor, lawmakers and others. We will chart our path forward together, so thank you very much.

Operator: This concludes today’s conference call. Thank you for joining us. You may now disconnect.