Hawaiian Electric Industries, Inc. (HE)
NYSE:HE
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Earnings Data
Report Date
Aug 10, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.19Last Year’s EPS
0.2Same Quarter Last Year
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a mixed but balanced picture. Material positive milestones were communicated: the Maui wildfire tort settlement was finalized and the first $479M payment was made, the Waial repowering project received PUC approval with $908M EPRM recovery, liquidity remains strong (nearly $1B), and rating agencies have responded with upgrades/positive outlooks. Offsetting these positives are meaningful near-term and ongoing cost pressures: core earnings declined (~22% consolidated core net income; utility core down ~28%), significant storm-related O&M and an expected O&M increase that will outpace inflation, exposure to rising fuel costs that will produce a maximum penalty under the FCRS and working capital strain, and an anticipated ~$247M recovery gap for Waial to be addressed in a future rate case. Management’s regulatory and financing plans (rate rebasing proposal, targeted recovery mechanisms, opportunistic financing of future settlement payments) provide clear paths to address many of the challenges, leaving the overall tone cautious but constructive.Company Guidance
Maui Wildfire Settlement Finalized and First Payment Made
Final conditions satisfied April 10, 2026; first of four annual $479 million settlement payments made on April 10 using funds set aside in a special-purpose vehicle. Settlement removes major litigation overhang and enables progress on recovery.
Improved GAAP Net Income and EPS (Quarter)
Reported net income of $30.5 million (Q1 2026) vs $26.7 million (Q1 2025), and EPS $0.18 vs $0.15, an increase of ~14% in net income and ~20% in EPS year-over-year on a GAAP basis.
Core Earnings and Utility Detail (contexted)
Consolidated core net income of $31.0 million and core EPS $0.18 (Q1 2026). Utility core net income was $35.7 million. While core results were down versus prior year, management highlighted the reduced wildfire-related expenses (<$1 million vs ~$4.5 million prior-year).
Regulatory and Rate Progress — Joint Rebasing Proposal
Submitted joint rate rebasing request (with Ulupono Initiative) proposing ~5.3% consolidated base rate increase phased over two years (average bill impact $8–$12 in 2027 and $2–$3 in 2028). Proposal also recommends 200 basis points of PIMs (150 bps potential award, 50 bps penalty).
Waial Repowering Project Approved with EPRM Recovery
PUC approved Waial repowering and allowed cost recovery through EPRM totaling $908 million (original $847M plus inflation). Contracts executed for six gas turbines to secure production slots; increased near-term CapEx for Waial.
Liquidity and Balance Sheet Strength
Near-term liquidity described as strong — roughly $1.0 billion of combined liquidity at quarter-end (cash, credit facilities and A/R facilities). Holding company has ~ $535M available under ATM and credit capacity; utility ~ $518M available under AR and credit capacity.
Positive Rating Agency Momentum
Moody's upgraded the utility to Ba1 from Ba2 and the holding company to Ba2 from Ba3 after settlement finalization; S&P and Fitch have positive outlooks, with agencies focused on rate rebasing, wildfire risk reduction, liability cap and wildfire recovery fund outcomes.
Affordability and Customer Support Measures
New customer support options launched April 6 including interest-free payment plans up to six months and $50 bill credits for diesel-reliant areas; management reiterated focus on electrification, rooftop solar and EV adoption to lower long-term household energy burden.
CapEx Guidance and Near-Term Investment
Updated CapEx expectations with Waial: Waial CapEx in 2026 now expected at ~$157 million (previously ~$90 million). Baseline annual CapEx guidance roughly $350–$400 million.
HE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
HE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 08, 2026 | $14.83 | $13.93 | -6.07% |
Feb 27, 2026 | $15.49 | $15.99 | +3.23% |
Nov 07, 2025 | $11.57 | $11.20 | -3.20% |
Aug 07, 2025 | $11.04 | $10.79 | -2.26% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Hawaiian Electric Industries, Inc. (HE) report earnings?
Hawaiian Electric Industries, Inc. (HE) is schdueled to report earning on Aug 10, 2026, Before Open (Confirmed).
What is Hawaiian Electric Industries, Inc. (HE) earnings time?
Hawaiian Electric Industries, Inc. (HE) earnings time is at Aug 10, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is HE EPS forecast?
HE EPS forecast for the fiscal quarter 2026 (Q2) is 0.19.