Earnings Releases·Nov 6, 2026, 4:06 PM ET

Hawaiian Electric Industries — Third Quarter 2026 Earnings Summary

Consolidated GAAP net income rose to $35 million ($0.20/share) from $31 million ($0.18/share) in Q3 2025, driven by $64 million in pre-tax gains from American Savings Bank (ASB) investments, though core net income declined to $23 million ($0.13/share) from $33 million ($0.19/share) due to $14 million in storm-related costs and a $51 million Pacific Current asset impairment.
Consolidated revenues increased 27.5% to $1,008.7 million from $790.6 million in the prior year period, primarily reflecting an $8 million revenue adjustment and higher operating expenses of $228.9 million, including $23 million in increased interest expense and $20 million in higher O&M costs.
The company proposed a 5.3% base rate increase phased over two years to fund grid investments and is pursuing up to $500 million in legislative approval for wildfire safety and resilience projects while continuing to evaluate early payments on the wildfire settlement liability.
Strategic developments include the sale of 35% of the ASB stake via IPO, a $51 million impairment marking the exit from the Mahipapa biomass plant as the final stage of the Pacific Current strategic exit, and a return on average common equity of 13.6% for 2026 compared to 7.2% in 2025.