HAWAIIAN ELECTRIC INDUSTRIES INC

Listed Company

HECIK 0000354707NYSELarge AcceleratedElectric ServicesHawaiiFY ends Dec 31

Period

FY 2025

Revenue

$3.09B

Net Income

—

Total Assets

$8.92B

Equity

$1.61B

Shares Out

172.64M

Op. Cash Flow

$391.07M

HE$13.62+26.11% · past yearDBEQ Basic

Daily closing prices

Business

Hawaiian Electric Industries Inc is a holding company whose subsidiaries operate regulated electric utilities providing electricity across five isolated grids serving Oahu, Hawaii, Maui, Lanai and Molokai. The utilities—Hawaiian Electric, Hawaii Electric Light, and Maui Electric—produce, purchase, transmit, distribute and sell electricity through a mix of owned generation and long-term power purchase agreements with independent power producers. HEI also holds non-utility subsidiaries being divested, including renewable energy infrastructure company Pacific Current.

Summary from 10-K filed 2026-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	3,087	3,220	3,288	3,421	2,850
Total expenses	2,852	4,927	3,013	3,141	2,464
Operating income (loss)	235	−1,707	275	280	386
Retirement defined benefits creditother than service costs	3	4	4	4	6
Interest expense, net	−117	−127	−126	−103	—
Allowance for borrowed funds used during construction	6	5	5	3	3
Allowance for equity funds used during construction	15	14	15	11	10
Interest income	37	19	9	0	0
Loss on sales of subsidiaries and equity-method investments and impairment loss on assets sold and held for sale	−12	0	−644,000	—	—
Income (loss) from continuing operations before income taxes	167	−1,792	182	202	311
Income tax expense (benefit)	41	−471	35	39	63
Income (loss) from continuing operations	126	−1,321	148	163	—
Dividends on and loss on redemption of preferred stock of Hawaiian Electric	3	2	2	2	2
Income (loss) from continuing operations for common stock	123	−1,323	146	161	—
Income (loss) from discontinued operations	0	−103	53	80	—
Net income (loss) for common stock	123	−1,426	199	241	246
Continuing operations - Basic earnings (loss) per common share (in dollars per share)	0.71	−10.42	1.33	1.47	—
Discontinued operations - Basic earnings (loss) per common share (in dollars per share)	0	−0.81	0.49	0.73	—
Basic earnings (loss) per common share (in dollars per share)	0.71	−11.23	1.82	2.2	2.25
Continuing operations - Diluted earnings (loss) per common share (in dollars per share)	0.71	−10.42	1.33	1.47	—
Discontinued operations - Diluted earnings (loss) per common share (in dollars per share)	0	−0.81	0.48	0.73	—
Diluted earnings (loss) per common share (in dollars per share)	0.71	−11.23	1.81	2.2	2.25
Weighted-average number of common shares outstanding (in shares)	173	127	110	109	109
Net effect of potentially dilutive shares (share-based compensation programs) (in shares)	464,000	0	299,000	344,000	298,000
Weighted-average shares assuming dilution (in shares)	173	127	110	110	110

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	502	751	244	44	306
Restricted cash	479	492	15	—	—
Accounts receivable and unbilled revenues, net	492	457	547	—	—
Regulatory assets	50	54	68	—	—
Other	306	380	332	—	—
Assets held for sale	56	0	—	—	—
Total current assets	1,885	2,134	—	—	—
Land	55	64	69	109	103
Plant and equipment	8,731	8,634	8,472	8,428	8,086
Right-of-use assets - finance lease	539	449	343	49	0
Construction in progress	382	366	320	293	231
Property, plant and equipment, gross	9,707	9,513	9,204	8,880	8,420
Less accumulated depreciation	−3,519	−3,378	−3,241	−3,193	−3,028
Total property, plant and equipment, net	6,188	6,134	5,963	5,687	5,392
Operating lease right-of-use-assets	57	67	80	116	122
Regulatory assets	258	227	226	—	—
Defined benefit pension and other postretirement benefit plans asset	219	107	—	—	—
Other	316	261	202	—	—
Total noncurrent assets	7,038	6,797	—	—	—
Total assets	8,923	8,931	7,677	16,284	15,823
Accounts payable	219	203	199	—	—
Interest and dividends payable	31	27	28	—	—
Short-term borrowings	0	49	0	—	—
Current portion of long-term debt, net	125	109	16	—	—
Regulatory liabilities	52	27	37	—	—
Wildfire tort-related claims	530	479	75	—	—
Other	410	431	403	—	—
Liabilities held for sale	60	0	—	—	—
Total current liabilities	1,428	1,325	—	—	—
Long-term debt, net	2,285	2,690	2,826	2,385	2,322
Operating lease liabilities	43	57	70	—	—
Finance lease liabilities	506	427	331	—	—
Regulatory liabilities	1,392	1,218	1,114	—	—
Defined benefit plans liability	24	23	78	—	—
Wildfire tort-related claims	1,436	1,436	0	—	—
Other	203	243	248	—	—
Total noncurrent liabilities	5,889	6,093	—	—	—
Total liabilities	7,317	7,418	14,865	14,047	13,397
Preferred stock of subsidiaries - not subject to mandatory redemption	0	34	34	34	34
Commitments and contingencies (Notes 2 and 4)	—	—	—	—	—
Preferred stock, no par value, authorized 10,000,000 shares; issued: none	0	0	0	0	0
Common stock, no par value, authorized 400,000,000 shares; issued and outstanding: 172,620,476 shares and 172,465,608 shares at December 31, 2025 and 2024, respectively	2,268	2,265	1,707	1,693	1,685
Retained earnings (deficit)	−666	−789	927	846	758
Unrealized gains on derivatives	600,000	2	2	2	−4
Retirement benefit plans	3	1	−8	−9	−17
Accumulated other comprehensive income, net of taxes	3	3	−289	−336	−53
Total shareholders equity	1,606	1,479	2,345	2,202	2,391
Total capitalization and liabilities	8,923	8,931	17,244	16,284	15,823

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income (loss)	126	−1,424	201	243	—
Loss (income) from discontinued operations	0	103	−53	−80	—
Depreciation of property, plant and equipment	260	262	255	244	246
Other amortization	39	32	27	26	33
Loss on sale of subsidiaries and equity-method investment and impairment loss on assets sold and held for sale	12	40	644,000	—	—
Deferred income tax expense (benefit)	−11	−486	9	−33	−5
Share-based compensation expense	3	4	7	7	9
Other	−6	−14	−3	−5	−7
Decrease (increase) in accounts receivable and unbilled revenues, net	−51	97	−72	−147	−74
Decrease (increase) in fuel oil stock	−16	49	43	−88	−46
Increase in materials and supplies	−14	−4	−35	−8	−5
Increase in regulatory assets	−30	−23	−11	35	−14
Increase in regulatory liabilities	96	48	54	45	15
Increase in accounts, interest and dividends payable	7	7	34	23	10
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	−5	−26	−10	121	41
Change in defined benefit pension and other postretirement benefit plans asset/liability	−9	−9	−8	−5	−7
Increase in wildfire related claims	48	1,840	75	0	—
Change in other assets and liabilities	−44	−54	−57	−26	−48
Net cash provided by operating activities-continuing operations	391	428	443	334	—
Net cash provided by operating activities-discontinued operations	0	59	108	121	—
Net cash provided by operating activities	391	487	551	454	376
Capital expenditures	−341	−344	−443	−339	−315
Proceeds from sale of subsidiaries	14	0	0	—	—
Other, net	5	10	7	14	27,000
Net cash used in investing activities-continuing operations	−322	−334	−436	−351	—
Net cash provided by investing activities-discontinued operations	0	592	179	−778	—
Net cash used in investing activities	−322	258	−257	−1,129	−1,180
Net decrease in short-term borrowings with original maturities of three months or less	0	0	−138	84	−10
Proceeds from issuance of short-term debt	0	50	65	35	0
Repayment of short-term debt	−50	0	−100	0	−65
Proceeds from issuance of long-term debt	510	5	625	227	286
Repayment of long-term debt and funds transferred for repayment of long-term debt	−734	−98	−167	−222	−82
Withheld shares for employee taxes on vested share-based compensation	−178,000	−1	−2	−3	−2
Net proceeds from issuance of common stock	0	557	1	0	0
Common stock dividends	0	0	−74	−111	−149
Preferred stock dividends of subsidiaries	−2	−2	−2	−2	−2
Redemption of preferred stock of subsidiaries	−35	0	0	—	—
Other	−20	−14	−5	−2	−3
Net cash provided by (used in) financing activities-continuing operations	−331	498	203	6	—
Net cash used in financing activities-discontinued operations	0	−343	−8	562	—
Net cash provided by (used in) financing activities	−331	155	196	568	756
Net increase (decrease) in cash, cash equivalents and restricted cash, including cash from discontinued operations	−262	901	490	−107	−48

Filings

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Frequently asked questions

What is HAWAIIAN ELECTRIC INDUSTRIES INC's CIK number?

HAWAIIAN ELECTRIC INDUSTRIES INC's SEC CIK number is 0000354707 (354707). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find HAWAIIAN ELECTRIC INDUSTRIES INC's SEC filings?

All of HAWAIIAN ELECTRIC INDUSTRIES INC's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did HAWAIIAN ELECTRIC INDUSTRIES INC last report earnings?

HAWAIIAN ELECTRIC INDUSTRIES INC (HE) most recently filed an earnings 8-K with the SEC on May 8, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000354707-26-000035). This is HAWAIIAN ELECTRIC INDUSTRIES INC's most recent earnings filing of record — not a forecast of its next earnings date.

What is HAWAIIAN ELECTRIC INDUSTRIES INC's most recent earnings 8-K?

HAWAIIAN ELECTRIC INDUSTRIES INC's latest earnings 8-K (Item 2.02) was filed May 8, 2026 under accession 0000354707-26-000035. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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