Nov 6, 4:06 PM ET
Hawaiian Electric Industries reported third quarter 2026 GAAP net income of $35 million, or $0.20 per diluted share, up from $31 million, or $0.18, a year earlier. Non-GAAP Core net income fell to $23 million, or $0.13 per share, from $33 million, or $0.19, as the company absorbed $14 million of storm costs and a $51 million Pacific Current impairment, offset in GAAP results by gains tied to its American Savings Bank stake.
- Total third quarter revenues were $1.01 billion, compared with $791 million in the third quarter of 2025.
- GAAP diluted EPS was $0.20 versus $0.18; Core diluted EPS was $0.13 versus $0.19.
- The quarter included $64 million of pre-tax gains related to HEI's American Savings Bank investment and a non-cash $51 million pre-tax asset impairment at Pacific Current.
- Hawaiian Electric recorded $14 million of incremental pre-tax storm costs for August and September, and its Core net income was $28 million versus $40 million a year earlier.
Read the filing on SEC.gov ↗
Aug 7, 4:06 PM ET
HEI reported second-quarter 2026 GAAP net income of $123 million, or $0.71 per diluted share, up from $26 million, or $0.15, a year earlier. The result includes a $101 million after-tax non-cash gain from remeasuring the remaining Maui wildfire settlement liability to present value, while Core net income, which excludes wildfire and Pacific Current review items, fell to $22 million, or $0.13 per share, from $35 million, or $0.20.
- Total revenues were $939.7 million, compared with $746.4 million in the second quarter of 2025.
- Core net income was $22 million, or $0.13 per diluted share, versus $35 million, or $0.20, in the second quarter of 2025; Hawaiian Electric cited higher interest expense and higher O&M.
- The remaining settlement liability was reduced from $1.44 billion to $1.30 billion, producing a $154 million pre-tax benefit.
- On July 17, HEI submitted an IGP Request for Proposals to the PUC seeking about 1,650 gigawatt-hours of variable renewable energy, 465 megawatts of grid forming resources and 111 megawatts of firm generating capacity.
Read the filing on SEC.gov ↗
Jul 31, 4:09 PM ET
On July 27, 2026, Hawaiian Electric Company and Kalaeloa Partners entered a new power purchase agreement for 208 megawatts of firm capacity over a 30-year term after commercial operation, replacing the October 2021 agreement that is expected to end in early 2033. The fixed capacity charge falls to $93 per kilowatt per year from $100, and the deal lets Kalaeloa repower the plant to burn other fuels and produce renewable-qualifying energy. The agreement takes effect only after the Hawaii Public Utilities Commission approves it.
- New PPA signed July 27, 2026, for 208 MW of firm capacity over a 30-year term after commercial operation
- Fixed capacity charge reduced to $93/kW per year from $100/kW per year under the Amended and Restated PPA
- Effectiveness depends on PUC approval; either party may void the agreement if approval is not received within 12 months of the application, subject to conditions
Read the filing on SEC.gov ↗
May 8, 4:05 PM ET
HEI reported first-quarter 2026 net income of $30 million, or $0.18 per diluted share, up from $27 million, or $0.15, a year earlier. Excluding Maui wildfire-related costs and Pacific Current strategic review expenses, core net income fell to $31 million, or $0.18, from $40 million, or $0.23. The company also said leadership will be consolidated effective June 1, with Scott Seu becoming CEO of both HEI and Hawaiian Electric, and it expects higher utility operations and maintenance expenses for 2026.
- GAAP net income was $30 million ($0.18 per diluted share) versus $27 million ($0.15) in Q1 2025; revenue was $746.4 million versus $744.1 million.
- Core net income was $31 million ($0.18 per diluted share) versus $40 million ($0.23) in Q1 2025.
- Hawaiian Electric expects 2026 O&M expense, excluding pension, to significantly outpace inflation, and the first of four $479 million settlement payments was issued in April.
- Effective June 1, Scott Seu becomes CEO of HEI and Hawaiian Electric, and Shelee Kimura becomes President of both companies.
Read the filing on SEC.gov ↗
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