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HAWAIIAN ELECTRIC CO INC (HAWEL), through parent Hawaiian Electric Industries, provides an investor update emphasizing its regulated utility model, wildfire mitigation program, capital plan, and balance sheet strategy. The vertically integrated utilities serve about 1.4 million people across five Hawaii islands with a total regulated rate base of roughly $4 billion as of December 31, 2025.
The company highlights its Performance Based Regulation framework, including formula-driven Annual Revenue Adjustments and performance incentives, and is pursuing an “alternative rate rebasing” case targeting a phased revenue increase beginning January 1, 2027. For Hurricane Lala and earlier Kona Low storms in 2026, estimated operations and maintenance costs are $25–$30 million and storm-related capital expenditures are $30–$40 million, with management planning to seek deferral and recovery subject to regulatory approval.
From 2025–2027, over $400 million of wildfire mitigation and resilience spending is planned, with up to $350 million of Wildfire Mitigation Plan costs approved for recovery primarily via securitization. The plan is part of a broader $2.2–$2.4 billion capital expenditure forecast for 2026–2028. Second-quarter 2026 non-GAAP core net income was $22.5 million, or $0.13 per share, and the utility’s last-twelve-month core return on equity was 5.7%, below allowed levels, while consolidated liquidity at June 30, 2026 was over $1.3 billion and recent Moody’s and S&P upgrades moved ratings closer to investment grade.
Hawaiian Electric Co Inc has a new insider disclosure from Elisia Flores, who is identified as a director of the company. This initial Form 3 report establishes her status as a reporting person. The report does not list any share transactions or derivative positions.
HAWAIIAN ELECTRIC CO INC reported that Micah A. Kane is an insider, serving as a director of the company. This initial ownership report does not list any stock transactions, derivative positions, or specific share holdings. It establishes Kane’s status as a reporting insider under SEC rules.
HAWAIIAN ELECTRIC CO INC lists W James Scilacci as a reporting person and director in an initial statement of beneficial ownership of securities. The report indicates his director status and that he is not listed as an officer or ten percent owner, and it shows no reportable transactions or derivative positions.
HAWAIIAN ELECTRIC CO INC reports that Celeste Anne Connors, a director of the company, has filed an initial statement of beneficial ownership on Form 3. The filing lists no equity transactions or derivative positions and shows no reported purchases, sales, or option exercises.
HAWAIIAN ELECTRIC CO INC reported an initial Statement of Beneficial Ownership on equity securities for director Peggy Y. Fowler. The filing is a Form 3, which establishes her status as a reporting person. No equity holdings or transactions are listed in this filing.
Hawaiian Electric Industries reported stronger Q2 2026 results, with revenue of $939.7 million and net income for common stock of $123.2 million, up from $746.4 million and $26.1 million a year earlier. Earnings per share were $0.71 versus $0.15, largely influenced by Maui wildfire‑related accounting items.
Following global settlement of Maui tort claims totaling $1.99 billion for HEI and Hawaiian Electric, the first $479 million installment was paid in April 2026 from previously raised equity. Remeasurement of remaining payments reduced the discounted wildfire liability to $1.30 billion, creating a $154 million benefit in utility expenses and related accretion in interest expense. Operating cash flow for the first half was -$350.4 million, driven mainly by the settlement payment and wildfire claim reductions, while capital expenditures reached $242.1 million. Cash and cash equivalents were $238.7 million at June 30, 2026, and shareholders’ equity rose to $1.76 billion as the retained deficit narrowed.
Hawaiian Electric Industries, Inc. reported second quarter 2026 GAAP net income of $123 million ($0.71 per share), up from $26 million ($0.15 per share) a year earlier, largely reflecting a non-cash gain from remeasuring the remaining Maui wildfire settlement liability to present value.
The remeasurement reduced the remaining settlement liability from $1.44 billion to $1.30 billion, creating a $154 million reduction to expense and contributing to higher electric utility income. After excluding Maui wildfire-related items and costs tied to the review of strategic options for Pacific Current, Core net income was $22 million ($0.13 per share), down from $35 million ($0.20 per share) in 2025, as higher interest expense and higher operation and maintenance costs more than offset higher revenues and insurance recoveries.
Hawaiian Electric’s Core net income was $33 million versus $42 million last year, while holding and other companies recorded a Core net loss of $10 million versus $7 million. Management expects 2026 adjusted O&M excluding pension to significantly outpace inflation due to higher insurance, storm response, vegetation management, maintenance, IT, and labor costs, and anticipates the maximum ~$3.7 million pre-tax penalty under the Fuel Cost Risk Sharing mechanism. A wildfire mitigation plan cost recovery approval and a recent S&P ratings upgrade are highlighted as supporting execution of the mitigation strategy.
Hawaiian Electric Company, Inc. entered into a new Power Purchase Agreement with Kalaeloa Partners L.P. on July 27, 2026 for 208 MW of firm capacity over a 30-year term, to support repowering Kalaeloa’s facility so its output can qualify as renewable energy under Hawaii’s Renewable Portfolio Standards Law. The agreement is intended to govern power sales after the existing Amended and Restated PPA, which is expected to terminate in early 2033.
The New PPA reduces the annual fixed capacity charge to $93/kW for 208 MW, down from $100/kW under the prior contract, and updates operations and maintenance pricing, including a variable charge of $0.004/kWh, fixed O&M of $96/kW per year, and a $300/hour overhaul component, all in 2023 dollars and escalating with the GDP implicit price deflator. Effectiveness depends on an order from the Hawaii Public Utilities Commission that is acceptable to Hawaiian Electric within specified 12- and 24-month timeframes; if approval is not obtained or Kalaeloa breaches certain obligations, the agreement may be declared null and void.
Hawaiian Electric Industries, Inc. (HEI) reported results of its June 11, 2026 annual shareholder meeting. All nominees for the Board of Directors were elected, each receiving over 121 million votes in favor with similar broker non-vote levels.
Shareholders approved, on an advisory basis, the compensation of HEI’s named executive officers and ratified the appointment of Deloitte & Touche LLP as HEI’s independent registered public accounting firm for 2026. As of the April 6, 2026 record date, 172,635,624 shares of HEI common stock were outstanding and entitled to vote.
For subsidiary Hawaiian Electric Company, Inc., HEI as sole common shareholder acted by written consent on June 11, 2026 to set the board size at twelve, elect the same twelve directors to serve until the next annual meeting, and ratify Deloitte & Touche LLP as the independent registered accounting firm for 2026.