Hawaiian Electric Q1 net income rises

Hawaiian Electric Industries

08/05/2026 21:14

Overview

US electric utility's Q1 net income rose yr/yr, while core net income declined

Results reflect higher O&M expenses from storm response and increased insurance costs

Company finalized global wildfire litigation settlement and made first $479 mln payment in April

Outlook

Company expects 2026 O&M expense, excluding pension, to significantly outpace inflation

Company anticipates higher costs due to insurance premiums, storm response, and increased maintenance

Maximum penalty expected under Fuel Cost Risk Sharing mechanism, reducing fuel revenue

Result Drivers

HIGHER O&M EXPENSES - Co said increased operations and maintenance costs were driven by storm response, higher insurance premiums, power supply, and transmission and distribution expenses

REVENUE ADJUSTMENT MECHANISM - Higher revenues were primarily attributed to the annual revenue adjustment mechanism

ONGOING INVESTMENTS - Co said it continues to invest in wildfire mitigation, reliability, and IT upgrades, contributing to higher expenses

Company press release: ID:nBwWH7SWa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$746.45 mln
Q1 Adjusted EPS
Miss
$0.18
$0.28 (1 Analyst)
Q1 EPS
$0.18
Q1 Net Income
$30.45 mln


Analyst Coverage

The current average analyst rating on the shares is "sell" and the breakdown of recommendations is no "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the electric utilities peer group is "hold."

Wall Street's median 12-month price target for Hawaiian Electric Industries Inc is $13.88, about 10% below its May 7 closing price of $15.42

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 16 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)