Hawaiian Electric Industries (HE) stock analysis: Graham value vs. distress risk

Hawaiian Electric Industries (HE) may gain a valuation benchmark for its 9.9% stake in American Savings Bank, with the bank's IPO implying a $1 billion equity value. HE could see approximately $99 million in value from its holding, depending on the IPO's outcome and any share sales. The IPO could provide HE with a more marketable investment and potential financing options, though risks include liquidity constraints and local credit conditions.

Hawaiian Electric (HE) discussed Q2 2026 results and regulatory updates. The PUC approved recovery of up to $11.5 million of 2025 WMP O&M and $3.9 million annually from 2028. HE expects a phased $170 million base rate increase, with interim decision by Dec 18, 2026. Q2 net income was $123.2 million, or $0.71/share, including a Maui wildfire liability remeasurement reducing expenses by $153.9 million.

HAWAIIAN ELECTRIC INDUSTRIES INC (HE) filed an SEC Form 8-K — Results of Operations and Financial Condition. HEI Exhibit 99 NEWS RELEASE August 7, 2026 Contact: Mateo Garcia Telephone: (808) 543-7300 Director, Investor Relations E-mail: ir@hei.com HEI REPORTS SECOND QUARTER 2026 RESULTS • One of Hawaiian Electric’s Largest-Ever Energy Solicitations Submitted for PUC Approval in July; Pl

S&P Global Ratings upgraded Hawaiian Electric Industries and subsidiaries to BB- from B+ with a stable outlook, citing declining wildfire risk. The Hawaii Public Utilities Commission approved about $350 million cost recovery for wildfire mitigation over three years. S&P expects funds from operations to debt near 10.5% in 2026, improving above 12% in 2027, and affirmed related debt ratings.

The U.S. State Department approved a potential $24.3 billion sale of 48 F-35 fighter jets and related equipment to Saudi Arabia, involving Lockheed Martin and Pratt & Whitney. The deal aims to enhance Saudi Arabia's defense capabilities and regional interoperability, supporting U.S. national security objectives.

The US State Department approved a $24.3 billion sale of 48 F-35 fighter jets and related equipment to Saudi Arabia, involving Lockheed Martin and Pratt & Whitney. The sale aims to support US foreign policy and regional stability, according to the department. Congress has 30 days to review the deal. The announcement follows Saudi Arabia's request for US military assistance against Yemen's Houthis, with ongoing diplomatic discussions.