Hawaiian Electric Industries has announced that it will release its second quarter 2026 financial results on Friday, August 7. A conference call and webcast to discuss the quarter's performance will follow at 10:30 a.m. Hawaii Time.
The upcoming quarterly report is expected to draw significant market attention. The company's first quarter results showed mixed financial performance, impacted by the Maui wildfire settlement and regulatory decisions in Hawaii. First-quarter earnings per share were $0.18, falling short of the consensus estimate of $0.28, primarily due to significant storm-related expenses and increased operational costs. Analysts currently project second-quarter earnings per share to be approximately $0.19.
Progress on the Maui wildfire settlement remains the most critical factor influencing the company's finances. The company made its first payment of $479 million on April 10, which is part of a series of four annual installments. The remaining three payments are scheduled for 2028 and 2029. The market is focused on whether the company can secure appropriate financing for the subsequent settlement payments. Jefferies recently lowered its price target on the stock from $13.75 to $11.75, maintaining an underperform rating. The firm believes financing pressures for the future payments will largely offset potential gains from operational recovery.
The company's business transformation is also advancing. In March of this year, Hawaiian Electric submitted a rate reset application to regulators, proposing an approximate 5.3% increase in its consolidated base rates, involving about $170 million. Roughly $145 million of this is anticipated to take effect in 2027. However, Jefferies noted that only about half of the requested amount is likely to translate into actual earnings. Additionally, the Waiau Power Plant modernization project has received regulatory approval, with the first units expected to be operational by 2029.
Investors will be watching the upcoming quarterly report for a clearer path forward regarding regulatory approvals and post-disaster recovery. They will also be looking for details on how the company plans to address near-term challenges such as rising fuel costs and operational expenditure pressures.