Hawaiian Electric Industries (NYSE:HE) Announces Earnings Results, Beats Expectations By $0.04 EPS

Hawaiian Electric Industries (NYSE:HE) released its quarterly earnings results on Friday. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04, FiscalAI reports. Hawaiian Electric Industries had a net margin of 6.89% and a return on equity of 7.90%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.04 million.

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 Trading Up 0.1%

HE stock traded up $0.01 during mid-day trading on Friday, reaching $8.45. 4,141,228 shares of the stock traded hands, compared to its average volume of 3,513,995. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.99 and a current ratio of 0.99. Hawaiian Electric Industries has a one year low of $8.15 and a one year high of $17.38. The stock has a market capitalization of $1.46 billion, a PE ratio of 11.84 and a beta of 0.50. The business has a 50-day moving average price of $9.31 and a two-hundred day moving average price of $12.98.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HE. Weiss Ratings cut shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, October 14th. Barclays decreased their target price on shares of Hawaiian Electric Industries from $12.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 30th. LADENBURG THALM/SH SH began coverage on shares of Hawaiian Electric Industries in a report on Tuesday, September 8th. They issued a “sell” rating and a $7.00 price target for the company. Zacks Research upgraded Hawaiian Electric Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, October 9th. Finally, Jefferies Financial Group decreased their price objective on Hawaiian Electric Industries from $8.75 to $7.00 and set an “underperform” rating on the stock in a research report on Tuesday, October 6th. Two investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Hawaiian Electric Industries currently has an average 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.