Hawaiian Electric Industries Q1 Earnings Call Highlights

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Hawaiian Electric Industries (NYSE:HE) said it entered 2026 successful a “year of transition” aft finalizing the Maui wildfire tort colony and moving guardant with a complaint rebasing connection designed to enactment inferior concern portion moderating lawsuit measure impacts.

On the company’s first-quarter 2026 net call, President and CEO Scott Seu said the last conditions of the Maui wildfire colony were satisfied connected April 10 aft the past subrogation insurers withdrew their appeals. HEI past made the archetypal of 4 yearly $479 cardinal payments required nether the agreement.

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“This marks a pivotal milestone for those who were impacted by the Maui wildfires, and our hearts are with them arsenic they proceed connected their travel of healing and recovery,” Seu said.

The institution reported first-quarter nett income of $30.5 million, oregon $0.18 per share, compared with $26.7 million, oregon $0.15 per share, successful the aforesaid play of 2025. Excluding Maui wildfire-related expenses and different non-core items, consolidated halfway nett income was $31 million, oregon $0.18 per share, down from $39.8 million, oregon $0.23 per share, a twelvemonth earlier.

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Paul Ito, enforcement vice president and main fiscal serviceman of HEI and Hawaiian Electric, said Hawaiian Electric’s halfway nett income fell to $35.7 cardinal from $49.7 cardinal successful the prior-year quarter. He attributed the diminution chiefly to higher operations and attraction expenses tied to terrible weather, including dense rains and damaging winds from February done March.