Expectations trend
FY2027 · fiscal year ending 2027-12-31 · fmp
Hawaiian Electric Industries, Inc. (HE)
NYSEUtilitiesRegulated ElectricSnapshot 2026-11-04
$8.44-0.71%
Close 2026-11-05 · 1-day change
NYSEUtilitiesRegulated ElectricSnapshot 2026-11-04
The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.
Next-FY EPS estimate change · 30 days
0.96 → 0.96 EPS · FY ending Dec 31, 2027 · 2 analysts
One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.
Change in the same fiscal period’s mean EPS estimate from Oct 5, 2026 to Nov 4, 2026: (new ÷ prior − 1). Contributor count changed from 2 to 2; this is not the number of analysts revising. The ±10% axis is a display range.
The EPS and P/E reference is not available for HE yet.
| Measure / period | Management expectations | Analyst expectations |
|---|
Management figures unavailable.
Current consensus figures unavailable.
4 published thesis conditions, with dated milestones shown separately.
| Key Factor | Why It Matters | Current Status | Break Condition | Latest Evidence |
|---|---|---|---|---|
earnings per share at least $0.71 in 2026 | The company manages rising costs and expects EPS of at least $0.71 in 2026. | Intact | EPS guidance falls below $0.71 for 2026 | Diluted EPS: $0.71 per share FY2026-Q2; GAAP. Published target: >=0.71 USD per share. Target period ends 2026-12-31; this observation covers 2026-Q2. Aug 7, 20260.71 USD/share · source valueLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Compare these dated observations with the operating requirements above
FY2027 · fiscal year ending 2027-12-31 · fmp
The evidence, the remaining questions, and what comes next
No recovery evidence is reported in the available driver assessments.
Observed price history; separate from operating scenarios
The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.
This is a regulated utility with a recovery-dependent long-term thesis, rather than a clear-cut growth story. The thesis is intact, and recent financial performance is strong, but risk remains elevated and earnings quality and management evidence are neutral.
HE is described as cheap versus peers, while the expectations gap is negative and the valuation model has low confidence. Pricing is tagged as justified, with low fragility, so the evidence does not point to a clearly stretched setup or establish that the shares are mispriced.
Near-term earnings remain a concern: HE has missed in recent quarters, and the next call could bring a guidance cut. Net income and operating income improved in 2026, but higher operating and maintenance costs, fuel oil costs, storm response, and insurance expenses weigh on the outlook. Over the multi-year view, progress depends in part on carrying out wildfire mitigation investments and managing their costs.
A guidance cut would be a meaningful negative, while rate cuts or stronger results from utility peers could support sector conditions. The key company-level swing factor is whether wildfire risk mitigation progresses while costs remain manageable and earnings performance improves.
For the next 1 to 3 years, HE’s long-term thesis has support from improving recent results, but elevated risks and a run of earnings misses leave execution uncertain. The view hinges on guidance, cost control, and wildfire mitigation progress. Not investment advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
| A supporting condition in Hawaiian Electric Industries, Inc.'s published investment case. The stated target is operations and maintenance expenses do not increase materially beyond 2025 levels. |
| Intact |
| expenses rise sharply above 2025 levels in 2026 |
Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management contextStated in 2 of 3 supplied quarters. Management reported: “Additionally, the Company is in the process of reprioritizing work to mitigate expense headwinds, while managing expenses to operate as efficiently as possible.” “Moving forward, we’ll continue to focus on making the investments outlined in our WMP, while operating efficiently and maintaining financial strength.” Operating income was $204.214 million in 2026-Q2. Delivery assessment Nov 4, 2026 |
net income improves to at least $30.45M in Q1 2026 | Hawaiian Electric is improving net income, up from $27.14M to $30.45M in Q1 2026. | Intact | net income falls below $27M in any quarter after Q1 2026 | Net income: $123.2M FY2026-Q2; GAAP. Published target: >=30.45 million USD. The stored target says 2026-Q1; this source reports FY2026-Q2. Fiscal/calendar alignment needs review. Aug 7, 2026123,200,000 USD · source valueLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
P/E remains below peer median of 25.28 | Its valuation is cheap compared to peers with a P/E of 16.5 versus 25.3. | Intact | P/E rises above peer median without earnings growth | P/E (TTM): 11.49x As of 2026-11-04; trailing twelve months. The target timing and basis require a separate assessment. Nov 4, 202611.4865 ratio · calculatedLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.
$1.13 → $0.96 · observed estimates
$3.31B → $3.27B · observed estimates
One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.
| Snapshot | EPS | Revenue | EPS / revenue analysts |
|---|---|---|---|
| 2026-07-24 | $1.13 | $3,309,500,000 | 3 / 2 |
| 2026-07-25 | $1.12 | $3,340,000,000 | 1 / 1 |
| 2026-07-26 | $1.13 | $3,309,500,000 | 3 / 2 |
| 2026-07-27 | $1.13 | $3,340,000,000 | 1 / 1 |
| 2026-07-28 | $1.13 | $3,340,000,000 | 1 / 1 |
| 2026-07-29 | $1.13 | $3,309,500,000 | 3 / 2 |
| 2026-07-30 | $1.13 | $3,309,500,000 | 3 / 2 |
| 2026-07-31 | $1.13 | $3,309,500,000 | 3 / 2 |
| 2026-08-01 | $1.13 | $3,340,000,000 | 1 / 1 |
| 2026-08-02 | $1.13 | $3,340,000,000 | 1 / 1 |
| 2026-08-03 | $1.13 | $3,340,000,000 | 1 / 1 |
| 2026-08-04 | $1.13 | $3,309,500,000 | 3 / 2 |
| 2026-08-05 | $1.13 | $3,309,500,000 | 3 / 2 |
| 2026-08-06 | $1.13 | $3,309,500,000 | 3 / 2 |
| 2026-08-07 | $1.13 | $3,340,000,000 | 1 / 1 |
| 2026-08-08 | $1.13 | $3,309,500,000 | 3 / 2 |
| 2026-08-09 | $1.13 | $3,309,500,000 | 3 / 2 |
| 2026-08-10 | $1.13 | $3,340,000,000 | 1 / 1 |
| 2026-08-12 | $1.07 | $3,316,000,000 | 3 / 2 |
| 2026-08-13 | $1.13 | $3,340,000,000 | 1 / 1 |
| 2026-08-14 | $1.13 | $3,340,000,000 | 1 / 1 |
| 2026-08-15 | $1.13 | $3,340,000,000 | 1 / 1 |
| 2026-08-16 | $1.13 | $3,340,000,000 | 1 / 1 |
| 2026-08-17 | $1.13 | $3,340,000,000 | 1 / 1 |
| 2026-08-18 | $1.13 | $3,340,000,000 | 1 / 1 |
| 2026-08-19 | $1.13 | $3,340,000,000 | 1 / 1 |
| 2026-08-20 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-08-21 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-08-22 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-08-23 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-08-24 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-08-25 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-08-26 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-08-27 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-08-28 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-08-29 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-08-30 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-08-31 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-09-01 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-09-02 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-09-03 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-09-04 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-09-05 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-09-06 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-09-07 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-09-08 | $1.09 | $3,340,000,000 | 1 / 1 |
| 2026-09-09 | $1.01 | $3,315,000,000 | 2 / 2 |
| 2026-09-10 | $1.01 | $3,315,000,000 | 2 / 2 |
| 2026-09-11 | $1.01 | $3,315,000,000 | 2 / 2 |
| 2026-09-12 | $1.01 | $3,315,000,000 | 2 / 2 |
| 2026-09-13 | $1.01 | $3,315,000,000 | 2 / 2 |
| 2026-09-14 | $1.01 | $3,315,000,000 | 2 / 2 |
| 2026-09-15 | $1.01 | $3,315,000,000 | 2 / 2 |
| 2026-09-16 | $1.01 | $3,315,000,000 | 2 / 2 |
| 2026-09-17 | $1.01 | $3,315,000,000 | 2 / 2 |
| 2026-09-18 | $0.95 | $3,269,500,000 | 2 / 2 |
| 2026-09-19 | $0.95 | $3,269,500,000 | 2 / 2 |
| 2026-09-20 | $0.95 | $3,269,500,000 | 2 / 2 |
| 2026-09-21 | $0.95 | $3,269,500,000 | 2 / 2 |
| 2026-09-22 | $0.95 | $3,269,500,000 | 2 / 2 |
| 2026-09-23 | $0.95 | $3,269,500,000 | 2 / 2 |
| 2026-09-24 | $0.95 | $3,269,500,000 | 2 / 2 |
| 2026-09-25 | $0.95 | $3,269,500,000 | 2 / 2 |
| 2026-09-26 | $0.95 | $3,269,500,000 | 2 / 2 |
| 2026-09-27 | $0.95 | $3,269,500,000 | 2 / 2 |
| 2026-09-28 | $0.95 | $3,269,500,000 | 2 / 2 |
| 2026-09-29 | $0.95 | $3,269,500,000 | 2 / 2 |
| 2026-09-30 | $0.95 | $3,269,500,000 | 2 / 2 |
| 2026-10-01 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-02 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-03 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-04 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-05 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-06 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-07 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-08 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-09 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-10 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-11 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-12 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-13 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-14 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-15 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-16 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-17 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-18 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-19 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-20 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-21 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-22 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-23 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-24 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-25 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-26 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-27 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-28 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-29 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-30 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-10-31 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-11-01 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-11-02 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-11-03 | $0.96 | $3,269,500,000 | 2 / 2 |
| 2026-11-04 | $0.96 | $3,269,500,000 | 2 / 2 |
Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.
Latest: 1 Buy / Strong Buy · 1 Hold · 2 Sell / Strong Sell
Recent actions · Oct 6–Nov 4 · 1 recorded
0 raises · 1 cuts · 0 unchanged · 0 without a comparable prior
Oct 6, 2026–Nov 4, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.
Nov 6, 2026
Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.
Review earnings4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.
The dated weekly assessment and its assumptions are available in Read detailed Outlook.