Hawaiian Electric reports Q3 earnings beat on revenue surge, but core profit falls due to storm costs
Hawaiian Electric posted third‑quarter 2026 Non‑GAAP earnings of $0.13 per share, beating estimates by $0.07, on revenue of $1.01 billion, up 27.7% year‑over‑year. GAAP net income rose to $35.5 million ($0.20 per share) while core net income slipped to $23 million ($0.13 per share) because of hurricane‑related expenses. The company said it will seek regulator approval to defer storm costs and to implement a 5.3% rate increase, and it has prepaid $80 million toward a wildfire settlement. Liquidity stands at roughly $1.3 billion.
Why it matters
The earnings beat may support short‑term share price, but the core profit decline and pending rate‑case could affect cash flow and future earnings, according to the company's statements. The $80 million wildfire prepayment and request to defer storm expenses indicate additional balance‑sheet pressures.
Key facts
- 1Non‑GAAP EPS was $0.13 per share, beating estimates by $0.07. seekingalpha.com
- 2Revenue was $1.01 billion, up 27.7% year‑over‑year. seekingalpha.com
- 3GAAP net income was $35.5 million ($0.20 per share). rttnews.com
- 4Core net income was $23 million ($0.13 per share), down from $32.8 million ($0.19 per share) a year earlier. rttnews.com
- 5Liquidity stood at approximately $1.3 billion. tradingview.com
- 6The company seeks regulator approval for a 5.3% rate increase and to defer storm expenses. finance.yahoo.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.