HEI Q1 2026 net income rises to $30 million; core profit falls to $31 million
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.
Key points
- 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.
The filing
Written by AI on Nov 8, 2026, 6:58 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 08, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.