Hawaiian Electric Industries (NYSE:HE – Get Free Report) announced its earnings results on Friday. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04, FiscalAI reports. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. Hawaiian Electric Industries had a net margin of 6.89% and a return on equity of 7.90%.
Here are the key takeaways from Hawaiian Electric Industries’ conference call:
- Core earnings declined: Third-quarter core EPS fell to $0.13 from $0.19 a year earlier, primarily due to higher utility O&M, including $13.7 million in estimated storm costs. HEI has requested deferral of qualifying storm expenses, but deferral would not guarantee eventual recovery.
- Liquidity and settlement funding remain strong: HEI reported $1.3 billion in total liquidity and expects proceeds from its remaining American Savings Bank stake and insurance to reduce the April 2027 wildfire settlement payment to below $300 million; it plans to finance the balance with debt or convertible debt.
- HEI is seeking a 5.3% base-rate increase phased in over two years; under the company’s illustrative scenario, a mid-to-late April 2027 decision could provide $83 million of additional revenue that year. Timing and approval remain uncertain, and proposed performance incentives could add to or reduce returns.
- The company said crews restored power to more than 95% of customers affected by Hurricane Lala within three days, and that resilience work helped reduce damage during severe weather. Customer satisfaction remained in the 86th percentile among more than 100 utilities surveyed.
Hawaiian Electric Industries Stock Performance
Shares of NYSE HE opened at $8.45 on Friday. The business has a fifty day simple moving average of $9.31 and a 200 day simple moving average of $12.98. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 6.40 and a beta of 0.50. Hawaiian Electric Industries has a one year low of $8.15 and a one year high of $17.38.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. Jefferies Financial Group reduced their price target on shares of Hawaiian Electric Industries from $8.75 to $7.00 and set an “underperform” rating for the company in a report on Tuesday, October 6th. Zacks Research upgraded shares of Hawaiian Electric Industries from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. LADENBURG THALM/SH SH began coverage on shares of Hawaiian Electric Industries in a report on Tuesday, September 8th. They set a “sell” rating and a $7.00 price objective on the stock. Weiss Ratings lowered shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, October 14th. Finally, Barclays reduced their target price on shares of Hawaiian Electric Industries from $12.00 to $9.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 30th. Two equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Hawaiian Electric Industries has a consensus rating of “Strong Sell” and an average target price of $7.67.
Hawaiian Electric Industries Company Profile
Hawaiian Electric Industries, Inc (NYSE: HE) is a Hawaii-based holding company whose principal business is providing electric utility service across the state. Through its regulated utility subsidiaries—Hawaiian Electric Company, Maui Electric Company and Hawaii Electric Light—the company generates, purchases, transmits, distributes and sells electricity to residential, commercial and industrial customers on the islands of Oahu, Maui, Molokai, Lanai and Hawaii.
The utility uses a combination of renewable and conventional energy resources and supports Hawaii’s transition toward a cleaner electric system.
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