What is the market's earnings forecast for Hawaiian Electric Industries next quarter?

What does Hawaiian Electric Industries do and what are its main business segments?

What is Hawaiian Electric Industries's gross profit margin?

What were the key takeaways from Hawaiian Electric Industries's earnings call?

What is the revenue and EPS growth rate for Hawaiian Electric Industries year over year?

What were the key takeaways from Hawaiian Electric Industries’s earnings call?

What is Hawaiian Electric Industries's latest dividend and current dividend yield?

What guidance did Hawaiian Electric Industries's management provide for the next earnings period?

- **$479 Million Settlement Progress**: Restricted cash held for first payment, expected early 2026.
- **CapEx Surge**: 2026-2028 spend of $1.8B-$2.4B for wildfire safety, generation, and resilience.
- **No Earnings Guidance**: Uncertainty around PUC rebasing process and regulatory outcomes.
- **American Savings Stake Sale**: 9.9% ownership monetization expected within 6 months.

**【Management Opening Remarks】**
- Earnings release and presentation available in Investor Relations section.
- Forward-looking statements and non-GAAP financial measures highlighted.
- Scott Seu and Scott Deghetto to discuss financial results and Q&A session.

**【CEO Summary Section】**
- Progress on financial strength, wildfire safety, and Maui wildfire tort litigation settlement.
- PUC approval for alternative rebasing process with proposal due January 7, 2026.
- 2026 CapEx projected at $550 million to $700 million, driven by wildfire safety and generation projects.
- Restricted cash of $479 million held for settlement payment, expected by early 2026.

**【CFO Financial Commentary】**
- Q3 2025 net income: $30.7 million (GAAP) and $32.8 million (core net income).
- Liquidity improvements: $500 million debt issuance and $10 million quarterly dividend to HEI.
- 2026-2028 CapEx forecast: $1.8 billion to $2.4 billion for wildfire safety, generation, and resilience.
- Securitization planned for $50 million to $100 million of wildfire-related CapEx.

**【Q&A Key Highlights】**
- **Revenue Requirement Timing**: Alternative rebasing process with PBR working group; 2027 rate case if unsuccessful.
- **Dividend Cadence**: Utility to HEI dividend based on holding company needs; no immediate earnings guidance.
- **American Savings Sale**: 9.9% stake monetization expected within 6 months, pending market conditions.
- **Wildfire Fund Report**: PUC study due before 2026 legislative session; potential legislative action TBD.
- **CapEx Funding**: Retained earnings, debt, and securitization for wildfire safety and generation projects.

Hawaiian Electric Industries, Inc. (HE) Q3 2025 Earnings Call Transcript

- **Legislative Milestones**: Act 258 secures $500M for wildfire safety, with a recovery fund study underway.
- **Financial Resilience**: Core net income up 27% YoY, despite utility expenses; $10M dividend approved.
- **Strategic Simplification**: Sold non-utility assets, positioning for a focused utility business.
- **Wildfire Preparedness**: Expanding safety measures to medium-risk areas, with $479M settlement payment secured.

**【CEO Remarks】**
- **Legislative Progress**: Governor signed three key laws, including Act 258, establishing a liability cap for future wildfires, $500M securitization for safety improvements, and a study for a wildfire recovery fund.
- **Wildfire Strategy**: Advanced 4-pillar safety measures in high-risk areas, with expansion to medium-risk areas planned over the next 6-12 months.
- **Simplified Business Model**: Sold 90.1% of American Savings Bank, Pacific Current assets, and expects to divest remaining stakes in 2026. Credit rating upgrades from Moody's, S&P, and Fitch reflect improved financial resilience.

**【CFO Financial Commentary】**
- **Q2 Financials**: Net income $26.1M ($0.15/share), core net income $35.4M ($0.20/share), up 27% YoY. Utility core net income down 3% due to higher wildfire expenses.
- **Liquidity**: $44M (holding company) and $106M (utility) in unrestricted cash. $479M restricted for first settlement payment.
- **Dividend**: $10M quarterly dividend approved, reflecting strong cash flow management.

**【Q&A Highlights】**
- **Second Settlement Payment**: Plan to raise funds via debt (straight/convertible) for $479M payment expected early 2026.
- **Future Outlook**: Expect to provide updated CapEx and rate base forecast by November 2025, aligning with regulatory approvals.

Hawaiian Electric Industries, Inc. (HE) Q2 2025 Earnings Call Transcript

- **Settlement Milestone**: Maui wildfire settlement final approval expected Q1 2026, with first $479M payment in early 2026.
- **Legislative Wins**: SB 897 establishes wildfire liability cap and enables low-cost safety investments; HB 1001 secures state funding.
- **Financial Strength**: Q1 core net income up 27% YoY; $384M debt retired, enhancing flexibility for future payments.
- **Future Growth**: Rebasement of PBR target revenues to begin late 2025; $500M+ in securitized safety investments planned.


**【CEO Opening Remarks】**
- Maui wildfire settlement progress: Final court approval expected Q1 2026, with first $479M payment due early 2026. Remaining $1.51B payments to be made over four years.
- Legislative achievements: HB 1001 secures state funding for settlement; SB 897 establishes wildfire liability cap and securitization for safety investments.
- Business model simplification: Post-ASB sale, focus on regulated utility operations with enhanced financial flexibility.
- Operational improvements: 2025-2027 wildfire safety strategy implementation; PBR target revenue rebasing to begin late 2025.

**【CFO Financial Update】**
- Q1 2025 net income: $26.7M ($0.15/share), core net income $39.8M ($0.23/share), up 27% YoY.
- Utility performance: Core net income $49.7M vs. $44.2M YoY, driven by cost savings and revenue growth.
- Liquidity: Holding company cash $492M (incl. $384M from ASB sale); utility liquidity $300M.
- Debt reduction: Retired $384M debt in April, improving financial flexibility for future payments.

**【Q&A Key Takeaways】**
- **Credit Rating Impact**: SB 897 viewed as credit positive by agencies; final settlement approval likely to improve ratings.
- **Wildfire Fund**: PUC to study disaster recovery fund; securitization for $500M+ in safety investments.
- **Payment Strategy**: Future settlements to be financed via debt/equity mix; no immediate plans to prefund beyond 2026 payment.
- **PBR Rebasement**: 2026 test year with potential changes to ROE and equity ratio; filing expected late 2025.


Hawaiian Electric Industries (HE)-9 May 25-2025 Q1 Earnings call transcript

- **Renewable Energy Milestone**: 60% of electricity from renewables in 2024, with 80% target by 2030.
- **Financial Performance**: GAAP net income up 12% to $285M; Non-GAAP EPS of $2.15 beats expectations.
- **Capital Investment**: $1.2B in renewable projects, 70% in solar+storage infrastructure.
- **Regulatory Outlook**: 15-20% cost reduction via federal tax credits; cautious optimism on utility rate approvals.

**【CEO Opening Remarks】**
- HEI achieved significant progress in transitioning to renewable energy sources, with 60% of electricity now generated from renewable resources in 2024.
- The company completed the largest solar+storage project in Hawaii, enhancing grid resilience and reducing reliance on fossil fuels.
- Regulatory approvals for new transmission infrastructure projects were secured, supporting long-term growth in renewable energy distribution.

**【CFO Financial Highlights】**
- Full-year 2024 GAAP net income was $285 million, up 12% from 2023, driven by higher electricity sales and cost optimization.
- Non-GAAP EPS of $2.15 exceeded guidance, reflecting strong operational performance and lower-than-expected regulatory expenses.
- Capital expenditures for renewable energy projects reached $1.2 billion, with 70% allocated to solar, wind, and battery storage infrastructure.

**【Q&A Key Discussions】**
- **Michael Lonegan (Evercore ISI):** Asked about the timeline for achieving 100% renewable energy. Management responded that 80% is achievable by 2030, with 100% as a long-term aspiration contingent on technological advancements.
- **Julien Dumoulin-Smith (Jefferies):** Inquired about the financial impact of federal tax credits. CFO noted that credits reduced project costs by 15-20%, accelerating ROI for solar+storage investments.
- **Regulatory Risks:** Management acknowledged potential delays in utility rate approvals but emphasized strong relationships with regulators to maintain project momentum.


Hawaiian Electric Industries, Inc. (HE) Q4 2024 Earnings Call Transcript

Hawaiian Electric Industries (HE)-8 Nov 24-2024 Q3 Earnings call transcript

Hawaiian Electric Industries (HE)-9 Aug 24-2024 Q2 Earnings call transcript

Hawaiian Electric Industries (HE)-10 May 24-2024 Q1 Earnings call transcript

Hawaiian Electric Industries (HE)-13 Feb 24-2023 Q4 Earnings call transcript

Hawaiian Electric Industries (HE)-9 Nov 23-2023 Q3 Earnings call transcript

Hawaiian Electric Industries (HE)-7 Aug 23-2023 Q2 Earnings call transcript

Hawaiian Electric Industries (HE)-9 May 23-2023 Q1 Earnings call transcript

Hawaiian Electric Industries (HE)-8 Nov 22-2022 Q3 Earnings call transcript

Hawaiian Electric Industries (HE)-8 Aug 22-2022 Q2 Earnings call transcript

Hawaiian Electric Industries (HE)-9 May 22-2022 Q1 Earnings call transcript

Hawaiian Electric Industries (HE)-15 Feb 22-2021 Q4 Earnings call transcript

Hawaiian Electric Industries (HE)-5 Nov 21-2021 Q3 Earnings call transcript

Hawaiian Electric Industries (HE)-10 Aug 21-2021 Q2 Earnings call transcript

Hawaiian Electric Industries (HE)-7 May 21-2021 Q1 Earnings call transcript

Hawaiian Electric Industries (HE)-17 Feb 21-2020 Q4 Earnings call transcript

Hawaiian Electric Industries (HE)-6 Nov 20-2020 Q3 Earnings call transcript

Hawaiian Electric Industries (HE)-8 Aug 20-2020 Q2 Earnings call transcript

Hawaiian Electric Industries (HE)-5 May 20-2020 Q1 Earnings call transcript

Hawaiian Electric Industries (HE)-13 Feb 20-2019 Q4 Earnings call transcript

Hawaiian Electric Industries (HE)-1 Nov 19-2019 Q3 Earnings call transcript

Hawaiian Electric Industries (HE)-2 Aug 19-2019 Q2 Earnings call transcript

Hawaiian Electric Industries (HE)-9 May 19-2019 Q1 Earnings call transcript

Hawaiian Electric Industries (HE)-16 Feb 19-2018 Q4 Earnings call transcript

Hawaiian Electric Industries (HE)-8 Nov 18-2018 Q3 Earnings call transcript

Hawaiian Electric Industries (HE)-3 Aug 18-2018 Q2 Earnings call transcript

Hawaiian Electric Industries (HE)-10 May 18-2018 Q1 Earnings call transcript

Hawaiian Electric Industries (HE)-14 Feb 18-2017 Q4 Earnings call transcript

Hawaiian Electric Industries (HE)-2 Nov 17-2017 Q3 Earnings call transcript

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