HE, US4198701009

Hawaiian Electric Industries stock reports Q2 profit as core EPS falls

Published on 10/05/2026 at 12:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Five analysts give Hawaiian Electric Industries a Strong Sell consensus as of October 4, with an average target of USD 8.25. Settlement funding adds USD 29.5 million.

HE, US4198701009, Illustration mit AI erstellt.

Hawaiian Electric Industries stock (ISIN US4198701009) closed at USD 8.90 on the NYSE on October 2, 2026, while the company reported Q2 GAAP net income of USD 123.2 million. The result was lifted by a non-cash reduction in the Maui wildfire settlement liability, making core earnings the more important measure for investors.

Core earnings fell in Q2

According to Yahoo Finance on August 7, 2026, HEI generated USD 123.2 million of net income, or USD 0.71 in diluted earnings per share, for the second quarter of 2026. The comparable 2025 quarter produced USD 26 million of net income and USD 0.15 per share.

The underlying picture was weaker. Core net income was USD 22.5 million, or USD 0.13 per share, down from USD 35.4 million and USD 0.20 per share in Q2 2025, according to Yahoo Finance. The difference shows how settlement accounting, rather than utility operations alone, shaped the headline profit.

Settlement funding gains room

HEI sold approximately 2.0 million American Savings Bank shares on September 16, 2026, generating USD 29.5 million in net proceeds, according to Business Wire. The transaction covered 30 percent of HEI's 9.9 percent stake and leaves a 6.4 percent position valued at USD 73.5 million based on ASB's September 18 price.

The underwriters also held an option for 293,904 additional shares that could provide USD 4.4 million in net proceeds. Business Wire reported that the proceeds are intended to reduce future capital raises needed for Maui wildfire settlement payments, while the remaining ASB shares are subject to a 180-day lockup.

Analysts keep a bearish view

MarketBeat lists a Strong Sell consensus from five analysts as of October 4, 2026, with four Sell ratings and one Hold rating. The average 12-month price target is USD 8.25, with targets ranging from USD 7.00 to USD 9.00.

That average target lies 7.3 percent below the October 2 closing price of USD 8.90. The gap reflects the market's tension between improved settlement liquidity and the decline in core earnings, rather than the USD 123.2 million GAAP profit alone.

Stock stays near yearly low

HE shares closed 0.39 percent lower on October 2, 2026, at USD 8.90 on the NYSE. The price stood 2.5 percent above the 52-week low of USD 8.68 and 48.8 percent below the 52-week high of USD 17.38.

Hawaiian Electric Industries had a market capitalization of USD 1.5 billion as of October 2, 2026. Trading volume was 2,238,089 shares, giving the settlement-funding update and the next quarterly figures clear importance for the stock's valuation.