Hawaiian Electric Industries, Inc. (HE)
NYSEUtilitiesRegulated ElectricSnapshot 2026-09-04
$11.090.00%
Close 2026-09-04 · 1-day change
NYSEUtilitiesRegulated ElectricSnapshot 2026-09-04
QuarterlyIQ Insights · HE
What must go right, what could break, what the price assumes, and what evidence comes next.
The current health of the standing investment case.
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
One-year growth currently built into the price, compared with our model's estimate.
| Measure | Marker shape | Value |
|---|---|---|
| Growth built into the price | circle | -23.8% |
| Our one-year growth estimate | diamond | 1.3% |
For each item: what to watch, what would become a concern, and what would make it less concerning.
A reporting-risk estimate, not a forecast of the stock-price response.
Historical relationships that met the evidence threshold. They do not prove cause or forecast a move.
Usually moved in the same direction.
Price observations: 365 days
Most sensitive to the broad stock market.
Based on historical daily prices through 2026-09-04.
Past price behavior in dollars on a $10,000 position. This does not measure permanent business risk.
How much price usually moves either way.
A larger daily loss that occurred about once in every 20 trading days.
Use the underlying financial and sector pages to investigate the cause.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Growth built into the price is above our model estimate.
The price assumes 25.1 percentage points less one-year growth.
The one-year revenue growth assumption on Valuation.
Worth watching into the next print: this name is on a run of consecutive earnings misses and has been missing across recent quarters. A fundamental tilt, not a price call.
Model as of 2026-09-04 · Compared with 31 industry peers · Company calendar date is not available
HE — earnings miss
Dated 2026-08-07
of this current report on Form 8-K including HEI Exhibit 99 shall not be deemed “ filed ” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. 1 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrants have duly caused this…
Why it matters: More upgrades show better financial health. This can lower borrowing costs for Hawaiian Electric.
Supportive ifS&P raises Hawaiian Electric's credit rating again.
Worry ifS&P downgrades or maintains the current rating without upgrades.
Why it matters: Higher costs may show ongoing problems and affect how much money is made.
Worry ifQ2 operations and maintenance costs are higher. This is due to inflation.
Less concerning ifCosts stay within or below the guidance given by management.
Why it matters: Higher O&M expenses may mean ongoing cost issues. This could hurt profits.
Worry ifO&M expenses for the next quarter are higher than management's guidance. They are rising faster than inflation.
Less concerning ifO&M expenses are at or below what management expected.
Why it matters: If utility revenue growth speeds up, it may help Hawaiian Electric's outlook.
Watch forUtility sector revenue growth exceeds 5% year over year.
Also watch forUtility sector revenue growth falls below 3% year over year.
We watch for confirming and disproving signals on each item. Resolutions are found automatically where possible and checked by hand for unclear cases. Last 90 days shown.
Deepest peak-to-trough drop in the last year.
| Measure | Value | Meaning |
|---|---|---|
| Typical day | ±$95 on $10,000 · ±1.0% | How much price usually moves either way. |
| Bad day | $315 loss on $10,000 · 3.1% | A larger daily loss that occurred about once in every 20 trading days. |
| Largest peak-to-trough drop in the past year | $3,589 loss on $10,000 · 35.9% | Deepest peak-to-trough drop in the last year. |
Past year. 1.00 means similar movement; 1.20 means about 20% more.
Past year. 1.00 means similar movement to the sector. This is secondary context.
Latest 30 trading days, shown as an annual percentage.
Latest 252 trading days, shown as an annual percentage.
20-trading-day average in US dollars.
Trading days used by the source risk snapshot.
Past results, not a forecast. Not investment advice.
Why it matters: This purchase could update Hawaiian Electric's power sources. It can meet energy needs better.
Supportive ifThe PUC approves a plan for 1,650 GWh of renewable energy.
Worry ifThe PUC rejects or changes the purchase plan a lot.
Why it matters: The settlement could change cash flow and future investments in operations.
Watch forCash flow from operations improves by over 20% in Q2 2026.
Also watch forCash flow from operations declines or remains flat in Q2 2026.
Why it matters: Earnings results will show if HEI can control its costs. This is important for future profits.
Watch forQ2 2026 net income is over $30 million, showing good cost control.
Also watch forQ2 2026 net income is below $25 million, showing poor cost control.
Why it matters: The lawsuit settlement could affect HEI's finances and reputation. Investors want to know if the court approves it.
Watch forThe court approves the $100 million settlement from the lawsuit.
Also watch forThe court denies the settlement or delays the approval process.
Why it matters: Stable or better core net income shows management is handling expenses well. It shows recovery from past issues.
Supportive ifCore net income for the next quarter exceeds $33 million.
Worry ifCore net income falls below $22 million in the next quarter.
Why it matters: The legal case results could have a big impact on the company's money and work.
Worry ifThe court makes a good ruling for HEI. This lowers possible liabilities and boosts investor trust.
Less concerning ifThe court rules against HEI. This raises liabilities or leads to more settlements.
Why it matters: Higher costs may show ongoing money management issues. This could hurt net income.
Worry ifQ2 operations and maintenance costs were over $200 million.
Less concerning ifQ2 operations and maintenance costs were under $200 million.
Why it matters: An upgrade can lower borrowing costs. This helps financial health and keeps costs down.
Supportive ifManagement reports lower borrowing costs. This is due to the recent S&P ratings upgrade.
Worry ifNo change in borrowing costs or a downgrade in credit ratings occurs.
Why it matters: These payments help with the effects of the Maui wildfires. They also impact the company's money and image.
Supportive ifThe company successfully completes the second of four $479 million payments by the end of Q2 2026.
Worry ifFailure to make the second payment on time or any delays in the settlement process.
Why it matters: More upgrades would show better financial health. This could lower borrowing costs.
Supportive ifS&P upgrades HEI's credit rating again. This shows progress in reducing wildfire risk.
Worry ifS&P downgrades HEI's credit rating or maintains a negative outlook.
Why it matters: If done well, this plan will lower wildfire risk and help keep costs down.
Supportive ifManagement says they are making progress. They have approval for Wildfire Mitigation Plan costs.
Worry ifThere are reports of delays in the Wildfire Mitigation Plan.
Why it matters: A drop in net income may show worse financial health. This could hurt investor trust.
Worry ifQ2 net income reported below $25 million.
Less concerning ifQ2 net income reported above $25 million.