Hawaiian Electric Industries (NYSE:HE – Get Free Report) issued its quarterly earnings results on Friday. The utilities provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08), FiscalAI reports. The business had revenue of $939.70 million for the quarter, compared to analyst estimates of $745.92 million. Hawaiian Electric Industries had a return on equity of 9.03% and a net margin of 4.19%.During the same quarter last year, the firm posted $0.15 EPS.
Here are the key takeaways from Hawaiian Electric Industries’ conference call:
- Wildfire mitigation costs may be securitized rather than primarily added to rate base, potentially lowering customer financing costs. HEI plans to seek a financing order later this year for approximately $350 million of approved WMP spending.
- HEI’s credit profile improved, with S&P upgrading both HEI and Hawaiian Electric to BB- in July, following Moody’s one-notch upgrade in April. The company cited progress in reducing wildfire risk and maintaining approximately $1.3 billion of consolidated liquidity.
- The company resubmitted its rate rebasing request, seeking a total $170 million base-rate increase phased in over two years, including $125 million beginning in 2027. HEI has requested an interim decision by December 2026, while a final decision is expected in April 2027.
- Second-quarter core net income fell to $22.5 million, or $0.13 per share, from $35.4 million, or $0.20, a year earlier. Results were pressured by higher interest expense, vegetation management and maintenance costs, storm response spending, insurance premiums, and other O&M increases.
- HEI is advancing large competitive procurements to meet rising demand and modernize generation, including renewable, storage, and firm-capacity resources. The PUC, however, requested a more thorough demonstration of need before considering HEI’s proposal for up to 500 megawatts of additional firm generation on Oʻahu.
Hawaiian Electric Industries Trading Down 0.7%
HE stock traded down $0.09 during mid-day trading on Friday, reaching $12.40. The company’s stock had a trading volume of 2,472,910 shares, compared to its average volume of 1,520,704. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 16.76 and a beta of 0.50. The business’s 50 day moving average price is $13.28 and its 200 day moving average price is $14.47. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.70. Hawaiian Electric Industries has a 12 month low of $10.60 and a 12 month high of $17.38.
Institutional Trading of Hawaiian Electric Industries
Analyst Ratings Changes
Several research analysts have commented on HE shares. Weiss Ratings raised Hawaiian Electric Industries from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 20th. Barclays decreased their price target on Hawaiian Electric Industries from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, June 25th. Jefferies Financial Group lowered their price objective on Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating for the company in a research report on Monday, July 6th. Wall Street Zen lowered Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, Zacks Research cut Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $12.38.
View Our Latest Analysis on Hawaiian Electric Industries
About Hawaiian Electric Industries
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.
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