India, Aug. 7 -- Hawaiian Electric Industries Inc. (HE) on Friday reported higher second-quarter earnings, primarily reflecting a non-cash benefit from remeasuring its remaining Maui wildfire settlement liability to present value.
Net income for the quarter rose to $123.2 million, or $0.71 per share, from $26.1 million, or $0.15 per share, a year earlier. Excluding Maui wildfire-related items and expenses tied to the strategic review of Pacific Current, core net income declined to $22.5 million, or $0.13 per share, from $35.4 million, or $0.20 per share, last year.
The company said results included a $154 million pre-tax benefit from remeasuring the remaining wildfire settlement liability, partially offset by higher interest expense and o...