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Sep 30
Hawaiian Electric Q3 2025 Earnings Report
Hawaiian Electric returned to profitability in Q3 2025 after a significant loss in the prior-year quarter.
Key Takeaways
Hawaiian Electric Industries (HEI) reported a net income of $31 million in Q3 2025, reversing last year’s wildfire-driven loss. Core operations remained stable, and the company strengthened liquidity through a successful debt issuance.
Reported net income of $31 million, compared to a $123 million loss in Q3 2024.
Revenue declined slightly to $790.6 million from $833.2 million in Q3 2024.
Adjusted EPS came in at $0.19, while GAAP EPS was $0.18.
HEI expanded credit capacity to $600 million and issued $500 million in debt to enhance financial flexibility.
Hawaiian Electric
Hawaiian Electric
Hawaiian Electric Revenue by Segment
Hawaiian Electric Revenue by Geographic Location
Revenue by Segment
Electric Utility Revenue
CapyFin.comOther Segment Revenue
CapyFin.comRevenue by Geographic Location
Hawaii Revenue
CapyFin.com Forward Guidance
HEI did not provide numerical guidance but emphasized financial stability, wildfire risk management, and continued investment in grid resiliency.
Positive Outlook
- Credit facility expanded to $600 million, boosting liquidity.
- Completed $500 million debt issuance post-wildfire period.
- Core utility operations remained efficient and resilient.
- Deferred some wildfire-related costs with regulatory approval.
- Class-action wildfire litigation settlement progressing.
Challenges Ahead
- Revenue declined year-over-year amid recovery efforts.
- Adjusted EPS fell from $0.29 in Q3 2024 to $0.19 in Q3 2025.
- Wildfire-related legal and insurance complexities continue.
- Lower tax credit benefits compared to prior year.
- Strategic uncertainty surrounding Pacific Current remains.