Hawaiian Electric Reports Q4 Profit Recovery
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Should l Buy HE?
Source: NASDAQ.COM
- Profit Recovery: Hawaiian Electric reported a fourth-quarter net income of $39.6 million, or $0.23 per share, a significant turnaround from a net loss of $68.2 million, or $0.40 per share in 2024, indicating a strong recovery in financial health.
- Core Income Growth: The core income from continuing operations for Q4 2025 was $41 million, up 17.1% from $35 million in Q4 2024, reflecting positive changes in operational efficiency and market demand.
- Revenue Increase: Total revenues for the quarter reached $805.8 million, a slight increase of 0.8% compared to $799.2 million last year, demonstrating progress in stabilizing revenue streams.
- Optimistic Market Outlook: With the recovery in profitability and stable revenue growth, Hawaiian Electric is positioned with a stronger financial foundation for future market competition, potentially attracting more investor interest.
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Analyst Views on HE
Wall Street analysts forecast HE stock price to fall
2 Analyst Rating
0 Buy
2 Hold
0 Sell
Hold
Current: 15.500
Low
10.00
Averages
11.00
High
12.00
Current: 15.500
Low
10.00
Averages
11.00
High
12.00
About HE
Hawaiian Electric Industries, Inc. is a holding company that provides energy services. The Company’s subsidiaries are principally engaged in electric utility and non-regulated renewable/sustainable infrastructure businesses operating in the State of Hawaii. Its electric utility, Hawaiian Electric Company, Inc. (Hawaiian Electric), supplies power to approximately 95% of Hawaii’s population. The Company operates through the electric utility segment. Hawaiian Electric and its operating utility subsidiaries, Hawaii Electric Light Company, Inc. (Hawaii Electric Light) and Maui Electric Company, Limited (Maui Electric), are regulated electric utilities that provide essential electric service to approximately 95% of Hawaii’s population through the operation of five separate grids that serve communities on the islands of Oahu, Hawaii, Maui, Lanai and Molokai. Its subsidiary, Pacific Current, LLC, invests in non-regulated clean energy and sustainable infrastructure in the State of Hawaii.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Profit Growth: Hawaiian Electric Industries reported a fourth-quarter profit of $39.61 million, translating to $0.23 per share, which marks a significant increase from last year's $29.16 million and $0.17 per share, indicating a strong improvement in profitability.
- Adjusted Earnings: Excluding certain items, the company reported adjusted earnings of $41.29 million or $0.24 per share, demonstrating robust core business performance and effective management in navigating market challenges.
- Revenue Increase: The company's revenue rose by 0.8% year-over-year to $805.82 million, compared to $799.18 million last year, reflecting its ability to maintain growth in a stable market environment.
- Financial Health: The overall improvement in financial metrics not only boosts investor confidence but also provides a stronger funding base for future expansion and investments, further solidifying its competitive position in the industry.
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- Net Income Performance: Hawaiian Electric reported a net income of $44 million for Q4 2025, slightly down from $46 million in Q4 2024, indicating a minor fluctuation in profitability while still maintaining a positive performance.
- Reduced Overall Losses: The company's net loss was $45 million, significantly improved from $96 million in 2024, primarily due to reduced expenses related to strategic reviews and lower Maui wildfire costs, showcasing effective cost management.
- Renewable Energy Progress: Hawaiian Electric achieved a 37% renewable portfolio standard in 2025, on track to meet the 40% statutory requirement by 2030, demonstrating the company's commitment to sustainability and strategic execution.
- Positive Stock Reaction: Following the earnings report, the company's shares rose by 1.5%, reflecting market optimism regarding its return to profitability, with a 46.2% increase in stock price over the past year, indicating strong investor confidence in future growth.
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- Settlement Progress: Hawaiian Electric has received court approval for settlement agreements related to the 2023 Maui wildfires, with the first $479 million payment expected in the second half of 2026, marking a significant legal and financial milestone for the company.
- Financial Flexibility: The company successfully issued $500 million in utility debt and increased its credit facility to $600 million, maintaining stable customer bills despite significant investments in wildfire safety, demonstrating robust financial management capabilities.
- Strategic Priorities: Management plans to continue advancing wildfire safety strategies and an alternative process for rate rebasing in 2026, with a joint proposal submission scheduled for March 6, aimed at enhancing the company's adaptability in a regulatory environment.
- Executive Transition: CFO Scott DeGhetto will depart on April 1, 2026, with current Treasurer Paul Ito set to resume the CFO role, ensuring continuity and stability in key financial decision-making for the company.
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- Profit Recovery: Hawaiian Electric reported a fourth-quarter net income of $39.6 million, or $0.23 per share, a significant turnaround from a net loss of $68.2 million, or $0.40 per share in 2024, indicating a strong recovery in financial health.
- Core Income Growth: The core income from continuing operations for Q4 2025 was $41 million, up 17.1% from $35 million in Q4 2024, reflecting positive changes in operational efficiency and market demand.
- Revenue Increase: Total revenues for the quarter reached $805.8 million, a slight increase of 0.8% compared to $799.2 million last year, demonstrating progress in stabilizing revenue streams.
- Optimistic Market Outlook: With the recovery in profitability and stable revenue growth, Hawaiian Electric is positioned with a stronger financial foundation for future market competition, potentially attracting more investor interest.
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- Earnings Highlights: Hawaiian Electric reported a GAAP EPS of $0.23 for Q4, indicating a modest year-over-year growth of 0.8%, which reflects the company's ongoing efforts to stabilize its financial performance and bolster investor confidence.
- Revenue Performance: The company generated revenue of $805.82 million in Q4, showing a slight increase compared to the previous year, suggesting that Hawaiian Electric has maintained a relatively stable revenue stream in a competitive utility market.
- Stock Price Reaction: Following the earnings report, Hawaiian Electric's shares rose by 1.68% in after-hours trading, indicating a positive market response to the results, which may attract more investor interest in the company's future growth potential.
- Industry Analysis: Within the utilities sector, Hawaiian Electric and OTTR exhibit the highest short interest, while BIP and ES show the lowest, highlighting varying levels of market confidence in different companies, which could influence investment strategies.
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- Earnings Report Preview: On Friday, Hawaiian Electric Industries (HE), Pearson Plc (PSO), and Sociedad Quimica y Minera de Chile S.A (SQM) are set to release their earnings reports, with market participants keenly observing the potential impact on stock prices.
- Market Reaction Anticipation: Investors are eagerly awaiting these earnings, particularly in the current economic climate, where the results could significantly influence the short-term performance of the respective stocks.
- Industry Dynamics Analysis: As a key player in the energy sector, Hawaiian Electric's earnings will reflect the impact of energy demand and price fluctuations on its profitability, providing insights into the sector's health.
- Global Market Focus: The performance of Pearson and SQM will be closely monitored by global markets, especially against the backdrop of changing demands in education and mining resources.
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