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Hawaiian Electric Industries (HE) investor relations material

Hawaiian Electric Industries Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary7 Aug, 2025

Executive summary

  • Net income for Q2 2025 was $26 million ($0.15 per share); core income from continuing operations was $35.4 million ($0.20 per share), up from $28 million ($0.26 per share) in Q2 2024, excluding wildfire and asset sale impacts.

  • Advanced business simplification through major asset sales, including Pacific Current and 90.1% of American Savings Bank.

  • Entered into $1.99 billion Maui wildfire settlement agreements, with first $479 million payment due early 2026.

  • Legislative actions established wildfire liability caps, funded settlement contributions, and authorized $500 million securitization for resilience.

  • Credit rating agencies issued upgrades, reflecting improved financial outlook, though ratings remain below investment grade.

Financial highlights

  • Q2 2025 revenues were $746 million, down 6% year-over-year; net income for common stock was $26 million, compared to a $1.3 billion loss in Q2 2024.

  • Core net income was $35.4 million ($0.20/share), compared to $28.4 million ($0.26/share) in Q2 2024.

  • Results include $5.4 million from Pacific Current asset sales and $5.2 million in Maui wildfire-related expenses (net of insurance and deferrals).

  • Operating income for Q2 2025 was $54 million, compared to a $1.66 billion loss in Q2 2024.

  • Weighted-average diluted shares outstanding were 172.7 million in Q2 2025.

Outlook and guidance

  • Management believes current liquidity is sufficient for short-term obligations, including the first wildfire settlement payment due in early 2026.

  • Expectation to provide updated CapEx and rate base growth outlook later in the year, likely in November.

  • Nearly $400 million in capital investment planned for wildfire mitigation from 2025–2027, with $120 million in 2025.

  • Ongoing efforts to divest remaining ASB stake within a year and focus on utility operations.

  • Utilities expect to continue meeting Hawaii's renewable portfolio standard goals, though 70% carbon reduction target may be delayed beyond 2030.

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Frequently asked questions

Hawaiian Electric Industries Inc is a holding company with operations in electric utility services and banking. Through its utility subsidiaries, it generates, transmits, and distributes electricity to customers on the Hawaiian Islands. Its financial services segment offers banking products through a wholly owned bank serving individuals and businesses. Hawaiian Electric Industries Inc is headquartered in Honolulu, Hawaii, and its shares are listed on the NYSE.

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