Hawaiian Electric Industries (NYSE:HE) Announces Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Hawaiian Electric Industries (NYSE:HE) posted its quarterly earnings data on Friday. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.09), FiscalAI reports. The firm had revenue of $746.45 million for the quarter, compared to analyst estimates of $805.26 million. Hawaiian Electric Industries had a return on equity of 9.82% and a net margin of 4.09%.

Here are the key takeaways from Hawaiian Electric Industries’ conference call:

• The company finalized the Maui Wildfire tort settlement (final conditions satisfied April 10) and made the first of four $479 million annual payments from a special-purpose vehicle, reducing litigation uncertainty while planning to fund future payments with debt/convertible debt and/or equity targeting investment‑grade metrics.
• HEI reports strong liquidity and improving credit momentum — the utility and holding company have roughly ~$1 billion of combined liquidity (cash plus available credit/ATM/ABL facilities) and Moody’s upgraded the utility to Ba1 and the holding company to Ba2 after the settlement.
• Rising global oil prices are increasing customer bills and working capital needs; management expects higher O&M (driven by severe storm response, insurance, vegetation management, IT and labor) and will realize a penalty under the Fuel Cost Risk Sharing (FCRS), which reduces revenue and contributed to lower core earnings year‑over‑year.
• HEI and Ulupono submitted a joint rate rebasing proposal seeking ~5.3% consolidated base‑rate increase phased across 2027–28 (avg. bill +$8–$12 in 2027, +$2–$3 in 2028) with proposed PBR incentives (200 bps total); the PUC review process and final outcomes remain uncertain.
• The PUC approved the Waiau Generating Station repowering with $908 million recoverable through EPRM, HEI expects higher total project costs and plans to seek an additional ~$247 million in a future rate proceeding, and Waiau CapEx for 2026 was increased to ~$157 million.

Hawaiian Electric Industries Trading Down 3.9%

HE traded down $0.59 during midday trading on Friday, reaching $14.83. 3,263,313 shares of the company were exchanged, compared to its average volume of 1,626,839. The stock has a market capitalization of $2.56 billion, a P/E ratio of 20.88 and a beta of 0.54. Hawaiian Electric Industries has a one year low of $10.14 and a one year high of $17.38. The stock’s 50-day simple moving average is $15.18 and its 200 day simple moving average is $13.88. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.32 and a current ratio of 1.32.

Analyst Ratings Changes

Several research firms recently issued reports on HE. Barclays raised their price target on Hawaiian Electric Industries from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Weiss Ratings upgraded shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Jefferies Financial Group cut shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and lowered their price target for the stock from $13.50 to $12.50 in a research report on Tuesday, January 20th. Zacks Research downgraded shares of Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, Wall Street Zen lowered shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $13.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. increased its stake in Hawaiian Electric Industries by 160.8% in the fourth quarter. Invesco Ltd. now owns 682,036 shares of the utilities provider’s stock valued at $8,389,000 after purchasing an additional 420,560 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of Hawaiian Electric Industries by 189.3% during the fourth quarter. Corient Private Wealth LLC now owns 166,472 shares of the utilities provider’s stock worth $2,048,000 after purchasing an additional 108,932 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Hawaiian Electric Industries by 45.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 59,899 shares of the utilities provider’s stock valued at $737,000 after buying an additional 18,855 shares during the period. JCP Investment Management LLC grew its holdings in shares of Hawaiian Electric Industries by 18.1% in the 4th quarter. JCP Investment Management LLC now owns 425,000 shares of the utilities provider’s stock valued at $5,228,000 after buying an additional 65,000 shares during the period. Finally, State of Tennessee Department of Treasury bought a new stake in shares of Hawaiian Electric Industries in the 4th quarter valued at $834,000. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries News Summary

Here are the key news stories impacting Hawaiian Electric Industries this week:

• Negative Sentiment: HEI reported first-quarter 2026 adjusted earnings of $0.18 per share, missing analyst estimates of $0.27, while revenue of $746.45 million also fell short of expectations of $805.26 million. HEI Reports First Quarter 2026 Results
• Neutral Sentiment: On the earnings call, management framed the quarter as part of an ongoing recovery effort, with commentary suggesting the business is balancing operational risks and longer-term improvement efforts. Hawaiian Electric’s Earnings Call Balances Risks and Recovery
• Negative Sentiment: Zacks Research cut Hawaiian Electric Industries from strong-buy to hold, adding to the cautious tone around the stock after the earnings report. Hawaiian Electric Industries (NYSE:HE) Cut to Hold at Zacks Research
• Neutral Sentiment: The company’s Q1 earnings transcript and snapshot confirm the same results, with net income of $30 million, or $0.18 per share, up slightly from a year ago but still below analyst forecasts. Hawaiian Electric (HE) Q1 2026 Earnings Transcript

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.