Nonprofit questions why HECO’s profits jumped in 2020 as customers struggled to pay bills HNN Staff © Provided by Honolulu KHNL Hawaiian Electric Company
HONOLULU, Hawaii (HawaiiNewsNow) - A Hawaii nonprofit is questioning why Hawaiian Electric saw an increase in revenues last year amid shutdowns and as many residents struggled to cover their utility bills.
According to a Hawaiian Electric Industries 2020 report, HECO saw a net income of $169 million, compared to $156.8 million in 2019. That’s a 4.5% increase in profits.
Sharon Higa, HECO senior communications consultant, said the increase in profit is due to a reduction in operating expenses and a reduction of staff.
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Hawaiian Electric Industries Inc (HE) Q4 2020 Earnings Call Transcript Motley Fool Transcribers © The Motley Fool Logo of jester cap with thought bubble.
Hawaiian Electric Industries Inc (NYSE: HE)
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Operator
Good day, and welcome to the Hawaiian Electric Industries Fourth Quarter 2020 Earnings Call. [Operator Instructions] After today s presentation, there will be an opportunity to ask questions. [Operator Instructions]
I would now like to turn the conference over to Julie Smolinski, Vice President of Investor Relations and Corporate Sustainability. Please go ahead.
This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to th
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