Hawaiian Electric Industries Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Hawaiian Electric Industries Inc reported revenue of $3.1B (-4.1% year on year) and net income of $123.1M (+108.6% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Total revenues | $3.1B | $3.2B | $3.7B | $3.7B |
| Total expenses | $2.9B | $4.9B | $3.3B | $3.4B |
| Operating income (loss) | $235.3M | ($1.7B) | $352.6M | $381.1M |
| Retirement defined benefits credit—other than service costs | $3.5M | $3.8M | $4.8M | $4.4M |
| Interest expense, net | ($117.3M) | ($127.2M) | — | — |
| Allowance for borrowed funds used during construction | $5.9M | $5.5M | $5.2M | $3.4M |
| Allowance for equity funds used during construction | $15.0M | $13.8M | $15.2M | $10.6M |
| Interest income | $36.9M | $19.4M | $9.1M | — |
| Loss on sales of subsidiaries and equity-method investments and impairment loss on assets sold and held for sale | ($12.4M) | — | — | — |
| Income (loss) from continuing operations before income taxes | $166.9M | ($1.8B) | $245.7M | $304.2M |
| Income tax expense (benefit) | $40.6M | ($471.0M) | $44.6M | $61.2M |
| Income (loss) from continuing operations | $126.3M | ($1.3B) | — | — |
| Dividends on and loss on redemption of preferred stock of Hawaiian Electric | $3.2M | $1.9M | $1.9M | $1.9M |
| Income (loss) from continuing operations for common stock | $123.1M | ($1.3B) | — | — |
| Income (loss) from discontinued operations | $0 | ($103.5M) | — | — |
| Net income (loss) for common stock | $123.1M | ($1.4B) | $199.2M | $241.1M |
| Continuing operations - Basic earnings (loss) per common share (in dollars per share) | $0.71 | -$10.42 | — | — |
| Discontinued operations - Basic earnings (loss) per common share (in dollars per share) | $0.00 | -$0.81 | — | — |
| Basic earnings (loss) per common share (in dollars per share) | $0.71 | -$11.23 | $1.82 | $2.20 |
| Continuing operations - Diluted earnings (loss) per common share (in dollars per share) | $0.71 | -$10.42 | — | — |
| Discontinued operations - Diluted earnings (loss) per common share (in dollars per share) | $0.00 | -$0.81 | — | — |
| Diluted earnings (loss) per common share (in dollars per share) | $0.71 | -$11.23 | $1.81 | $2.20 |
| Weighted-average number of common shares outstanding (in shares) | 172.6M | 126.9M | 109.7M | 109.4M |
| Net effect of potentially dilutive shares (share-based compensation programs) (in shares) | 464.0K | 0 | 299.0K | 344.0K |
| Weighted-average shares assuming dilution (in shares) | 173.0M | 126.9M | 110.0M | 109.8M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Revenues | $939.7M | $746.4M | $790.6M | $746.4M |
| Total expenses | $735.5M | $693.1M | $738.6M | $692.6M |
| Operating income (loss) | $204.2M | $53.4M | $52.0M | $53.7M |
| Retirement defined benefits credit—other than service costs | $879.0K | $879.0K | $817.0K | $919.0K |
| Interest expense, net (Note 2) | ($48.4M) | ($31.1M) | ($26.2M) | ($27.3M) |
| Allowance for borrowed funds used during construction | $2.0M | $1.7M | $1.5M | $1.5M |
| Interest income | $2.7M | — | $7.0M | $7.6M |
| Allowance for equity funds used during construction | $4.4M | $3.8M | $3.8M | $3.7M |
| Interest and dividend income | $5.3M | $10.0M | — | — |
| Loss on sale of a subsidiary and impairment loss on assets held for sale | ($3.7M) | $0 | $1.0M | ($178.0K) |
| Income before income taxes | $164.7M | $38.6M | $39.9M | $40.0M |
| Income tax expense | $41.5M | $8.1M | $8.7M | $13.4M |
| Net income | $123.2M | $30.4M | $31.2M | $26.6M |
| Preferred stock dividends of subsidiaries | $0 | $0 | $471.0K | $473.0K |
| Net income for common stock | $123.2M | $30.4M | $30.7M | $26.1M |
| Basic earnings per common share (in dollars per share) | $0.71 | $0.18 | $0.18 | $0.15 |
| Diluted earnings per common share (in dollars per share) | $0.71 | $0.18 | $0.18 | $0.15 |
| Weighted-average number of common shares outstanding (in shares) | 172.6M | 172.6M | 172.6M | 172.5M |
| Net effect of potentially dilutive shares (share-based compensation programs) (in shares) | 585.0K | 700.0K | — | — |
| Weighted-average shares assuming dilution (in shares) | 173.2M | 173.3M | 172.9M | 172.7M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $501.8M | $750.5M | $679.5M | $199.9M |
| Restricted cash | $479.0M | $492.3M | $15.0M | $5.0M |
| Accounts receivable and unbilled revenues, net | $491.5M | $457.2M | $575.2M | $511.9M |
| Regulatory assets | $50.0M | $53.9M | $294.8M | $242.5M |
| Other | $306.0M | $380.4M | $878.0M | $824.5M |
| Assets held for sale | $56.3M | — | — | — |
| Total current assets | $1.9B | $2.1B | — | — |
| Land | $54.6M | $63.5M | $107.0M | $109.4M |
| Plant and equipment | $8.7B | $8.6B | $8.7B | $8.4B |
| Right-of-use assets - finance lease | $539.5M | $448.5M | $342.8M | $49.4M |
| Construction in progress | $382.1M | $366.4M | $322.1M | $293.0M |
| Property, plant and equipment, gross | $9.7B | $9.5B | $9.5B | $8.9B |
| Less – accumulated depreciation | ($3.5B) | ($3.4B) | ($3.3B) | ($3.2B) |
| Total property, plant and equipment, net | $6.2B | $6.1B | $6.2B | $5.7B |
| Operating lease right-of-use-assets | $56.6M | $66.6M | $94.9M | $115.7M |
| Regulatory assets | $258.1M | $227.4M | — | — |
| Defined benefit pension and other postretirement benefit plans asset | $219.2M | — | — | — |
| Other | $316.0M | $368.8M | $853.3M | $787.1M |
| Total noncurrent assets | $7.0B | $6.8B | — | — |
| Total assets | $8.9B | $8.9B | $17.2B | $16.3B |
| Accounts payable | $219.1M | $203.5M | $247.5M | $251.5M |
| Interest and dividends payable | $31.5M | $27.2M | $51.2M | $21.3M |
| Short-term borrowings | $0 | $48.6M | — | — |
| Current portion of long-term debt, net | $125.0M | $109.2M | — | — |
| Regulatory liabilities | $52.0M | $26.6M | $1.2B | $1.1B |
| Wildfire tort-related claims | $530.0M | $478.8M | — | — |
| Other | $410.5M | $430.8M | — | — |
| Liabilities held for sale | $59.8M | — | — | — |
| Total current liabilities | $1.4B | $1.3B | — | — |
| Long-term debt, net | $2.3B | $2.7B | $2.8B | $2.4B |
| Operating lease liabilities | $43.3M | $56.5M | $103.9M | $126.6M |
| Finance lease liabilities | $505.6M | $426.6M | $339.0M | $48.7M |
| Regulatory liabilities | $1.4B | $1.2B | — | — |
| Defined benefit plans liability | $23.7M | $23.2M | — | — |
| Wildfire tort-related claims | $1.4B | $1.4B | — | — |
| Other | $203.3M | $243.0M | — | — |
| Total noncurrent liabilities | $5.9B | $6.1B | — | — |
| Total liabilities | $7.3B | $7.4B | $14.9B | $14.0B |
| Preferred stock of subsidiaries - not subject to mandatory redemption | $0 | $34.3M | $34.3M | $34.3M |
| Preferred stock, no par value, authorized 10,000,000 shares; issued: none | 0 | 0 | 0 | 0 |
| Common stock, no par value, authorized 400,000,000 shares; issued and outstanding: 172,620,476 shares and 172,465,608 shares at December 31, 2025 and 2024, respectively | 2.3B | 2.3B | 1.7B | 1.7B |
| Retained earnings (deficit) | ($665.6M) | ($788.9M) | $926.7M | $845.8M |
| Unrealized gains on derivatives | $600.0K | $2.1M | $1.6M | $2.0M |
| Retirement benefit plans | $2.7M | $1.3M | ($8.0M) | ($9.1M) |
| Accumulated other comprehensive income, net of taxes | $3.3M | $3.5M | ($289.4M) | ($336.0M) |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $238.7M | $452.8M | $548.2M | $154.3M |
| Restricted cash | $218.0K | $479.0M | $479.0M | $482.6M |
| Accounts receivable and unbilled revenues, net | $520.4M | $452.2M | $498.2M | $435.8M |
| Regulatory assets | $51.7M | $48.4M | $36.0M | $44.0M |
| Other | $389.7M | $342.0M | $296.4M | $305.1M |
| Assets held for sale | $52.2M | $55.6M | $55.9M | $118.4M |
| Total current assets | $1.3B | $1.8B | $1.9B | $1.5B |
| Property, plant and equipment, net of accumulated depreciation of $3,626,536 and $3,518,501 at June 30, 2026 and December 31, 2025, respectively | $6.3B | $6.2B | $6.2B | $6.1B |
| Operating lease right-of-use assets | $48.2M | $52.4M | $58.2M | $62.1M |
| Regulatory assets | $274.6M | $263.2M | $251.2M | $242.0M |
| Defined benefit pension and other postretirement benefit plans asset | $221.6M | $219.7M | — | — |
| Other | $257.3M | $311.8M | $435.2M | $420.6M |
| Total noncurrent assets | $7.1B | $7.1B | $6.9B | $6.8B |
| Total assets | $8.4B | $8.9B | $8.8B | $8.3B |
| Accounts payable | $305.7M | $220.1M | $217.3M | $232.9M |
| Interest and dividends payable | $30.9M | $49.1M | $34.7M | $23.9M |
| Current portion of long-term debt, net | $0 | $125.0M | $143.5M | $143.4M |
| Regulatory liabilities | $31.3M | $35.6M | $37.6M | $27.4M |
| Wildfire related claims | $457.6M | $526.5M | $526.5M | $478.8M |
| Other | $383.7M | $351.0M | $402.0M | $368.9M |
| Liabilities held for sale | $61.0M | $60.6M | $59.1M | $114.4M |
| Total current liabilities | $1.3B | $1.4B | $1.4B | $1.4B |
| Long-term debt, net | $2.3B | $2.3B | $2.3B | $1.9B |
| Operating lease liabilities | $35.6M | $38.6M | $45.6M | $49.8M |
| Finance lease liabilities | $499.4M | $502.5M | $509.8M | $462.4M |
| Regulatory liabilities | $1.4B | $1.4B | $1.3B | $1.3B |
| Defined benefit pension liability | $23.6M | $23.6M | — | $23.1M |
| Wildfire tort-related claims | $890.3M | $1.4B | $1.4B | $1.4B |
| Other | $211.9M | $213.6M | $198.9M | $215.3M |
| Total noncurrent liabilities | $5.4B | $5.9B | $5.8B | $5.3B |
| Total liabilities | $6.6B | $7.3B | $7.2B | $6.8B |
| Preferred stock, no par value, authorized 10,000,000 shares; issued: none | 0 | 0 | 0 | 0 |
| Common stock, no par value, authorized 400,000,000 shares; issued and outstanding: 172,728,004 shares and 172,620,476 shares at June 30, 2026 and December 31, 2025, respectively | 2.3B | 2.3B | 2.3B | 2.3B |
| Retained earnings (deficit) | ($512.0M) | ($635.2M) | ($705.4M) | ($736.2M) |
| Accumulated other comprehensive income, net of taxes | $3.2M | $3.3M | $2.0M | $2.7M |
| Total shareholders’ equity | $1.8B | $1.6B | $1.6B | $1.5B |
| Total liabilities and shareholders’ equity | $8.4B | $8.9B | $8.8B | $8.3B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income (loss) | $126.3M | ($1.4B) | $201.1M | $243.0M |
| Loss (income) from discontinued operations | $0 | $103.5M | — | — |
| Depreciation of property, plant and equipment | $260.0M | $261.7M | $267.7M | $256.1M |
| Other amortization | $38.9M | $31.8M | $43.1M | $38.8M |
| Loss on sale of subsidiaries and equity-method investment and impairment loss on assets sold and held for sale | $12.4M | — | — | — |
| Deferred income tax expense (benefit) | ($10.6M) | ($486.2M) | $5.3M | ($32.5M) |
| Share-based compensation expense | $3.4M | $3.6M | $10.5M | $10.4M |
| Allowance for equity funds used during construction | ($15.0M) | ($13.8M) | ($15.2M) | ($10.6M) |
| Other | ($6.4M) | ($13.8M) | ($4.3M) | ($7.6M) |
| Decrease (increase) in accounts receivable and unbilled revenues, net | ($51.4M) | $96.7M | ($75.0M) | ($151.6M) |
| Decrease (increase) in fuel oil stock | ($15.6M) | $49.4M | $43.4M | ($87.6M) |
| Increase in materials and supplies | ($14.5M) | ($4.2M) | ($34.9M) | — |
| Increase in regulatory assets | ($30.5M) | ($22.7M) | ($10.6M) | $34.6M |
| Increase in regulatory liabilities | $96.0M | $48.4M | $54.5M | $44.9M |
| Increase in accounts, interest and dividends payable | $7.0M | $6.9M | $60.0M | $28.2M |
| Change in prepaid and accrued income taxes, tax credits and utility revenue taxes | ($4.6M) | ($25.5M) | ($13.2M) | $121.6M |
| Change in defined benefit pension and other postretirement benefit plans asset/liability | ($8.8M) | ($9.4M) | ($8.9M) | ($5.2M) |
| Increase in wildfire related claims | $47.8M | $1.8B | — | — |
| Change in other assets and liabilities | ($43.6M) | ($53.8M) | $5.7M | ($28.6M) |
| Net cash provided by operating activities-continuing operations | $391.1M | $428.1M | — | — |
| Net cash provided by operating activities-discontinued operations | $0 | $59.4M | — | — |
| Net cash provided by operating activities | $391.1M | $487.5M | $551.5M | $454.5M |
| Capital expenditures | ($341.2M) | ($344.3M) | ($448.3M) | ($344.0M) |
| Proceeds from sale of subsidiaries | $13.8M | — | — | — |
| Other, net | $5.2M | $10.3M | $10.3M | $13.0M |
| Net cash used in investing activities-continuing operations | ($322.2M) | ($333.9M) | — | — |
| Net cash provided by investing activities-discontinued operations | $0 | $592.2M | — | — |
| Net cash used in investing activities | ($322.2M) | $258.3M | ($257.4M) | ($1.1B) |
| Net decrease in short-term borrowings with original maturities of three months or less | $0 | $0 | ($137.7M) | $83.7M |
| Proceeds from issuance of short-term debt | $0 | $50.0M | $65.0M | $35.0M |
| Repayment of short-term debt | ($50.0M) | $0 | ($100.0M) | $0 |
| Proceeds from issuance of long-term debt | $510.0M | $5.5M | $625.0M | $227.3M |
| Repayment of long-term debt and funds transferred for repayment of long-term debt | ($733.6M) | ($97.7M) | ($167.1M) | ($221.9M) |
| Withheld shares for employee taxes on vested share-based compensation | -178.0K | -1.1M | -2.4M | -3.2M |
| Net proceeds from issuance of common stock | $0 | $556.6M | $1.2M | — |
| Common stock dividends | $0 | $0 | ($113.0M) | ($153.2M) |
| Preferred stock dividends of subsidiaries | ($1.9M) | ($1.9M) | ($1.9M) | ($1.9M) |
| Redemption of preferred stock of subsidiaries | ($35.4M) | — | — | — |
| Other | ($20.0M) | ($13.9M) | ($4.7M) | ($2.4M) |
| Net cash provided by (used in) financing activities-continuing operations | ($331.0M) | $497.6M | — | — |
| Net cash used in financing activities-discontinued operations | $0 | ($342.9M) | — | — |
| Net cash provided by (used in) financing activities | ($331.0M) | $154.7M | $195.6M | $567.7M |
| Net increase (decrease) in cash, cash equivalents and restricted cash, including cash from discontinued operations | ($262.1M) | $900.5M | $489.6M | ($106.5M) |
| Cash, cash equivalents and restricted cash from continuing operations, January 1 | $1.2B | $694.6M | $204.9M | $311.5M |
| Cash, cash equivalents and restricted cash from discontinued operations, January 1 | $352.2M | — | — | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $153.7M | $30.4M | $84.9M | $53.7M |
| Depreciation of property, plant and equipment | $133.1M | $66.5M | $195.9M | $131.8M |
| Other amortization | $17.7M | $8.9M | $30.7M | $20.9M |
| Loss on sale of a subsidiary and impairment loss on assets held for sale | $3.7M | $0 | $12.4M | $13.4M |
| Deferred income tax expense (benefit) | $50.2M | ($4.1M) | ($13.3M) | ($3.9M) |
| Share-based compensation expense | $3.8M | $1.2M | $2.9M | $3.5M |
| Allowance for equity funds used during construction | ($8.2M) | ($3.8M) | ($11.1M) | ($7.3M) |
| Other | ($5.0M) | ($3.5M) | ($4.5M) | ($2.8M) |
| Decrease (increase) in accounts receivable and unbilled revenues, net | ($72.5M) | $36.4M | ($54.0M) | $13.9M |
| Increase in fuel oil stock | ($75.8M) | ($11.0M) | ($13.2M) | ($16.5M) |
| Increase in materials and supplies | ($7.9M) | ($2.2M) | ($14.4M) | ($12.9M) |
| Increase in regulatory assets | ($7.7M) | $1.0M | $2.8M | ($1.6M) |
| Increase in regulatory liabilities | $21.3M | ($539.0K) | $65.7M | $42.4M |
| Increase in accounts, interest and dividends payable | $84.2M | $35.4M | $3.4M | $13.4M |
| Change in prepaid and accrued income taxes, tax credits and utility revenue taxes | ($16.5M) | ($45.5M) | ($15.8M) | ($38.9M) |
| Change in defined benefit pension and other postretirement benefit plans asset/liability | ($4.2M) | ($2.1M) | ($4.3M) | ($3.7M) |
| Settlement payment | ($478.8M) | — | — | — |
| Decrease in wildfire-related claims | ($136.2M) | — | $47.8M | $0 |
| Change in other assets and liabilities | ($5.3M) | ($46.3M) | ($31.2M) | ($20.9M) |
| Net cash provided by (used in) operating activities | ($350.4M) | $61.0M | $284.7M | $184.4M |
| Proceeds from sale of subsidiaries | $0 | $0 | $13.8M | $5.8M |
| Capital expenditures | ($242.1M) | ($103.5M) | ($255.4M) | ($161.5M) |
| Other, net | $2.0M | $1.6M | $4.3M | $3.2M |
| Net cash used in investing activities | ($240.1M) | ($101.9M) | ($237.4M) | ($152.5M) |
| Repayment of long-term debt | ($145.1M) | ($5.0M) | ($694.5M) | ($630.8M) |
| Withheld shares for employee taxes on vested share-based compensation | -128.0K | -128.0K | -178.0K | -178.0K |
| Preferred stock dividends of subsidiaries | $0 | $0 | ($1.4M) | ($946.0K) |
| Other | ($6.1M) | ($2.9M) | ($16.9M) | ($6.0M) |
| Net cash used in financing activities | ($151.4M) | ($8.1M) | ($263.0M) | ($637.9M) |
| Net decrease in cash, cash equivalents and restricted cash | ($741.8M) | ($48.9M) | ($215.6M) | ($606.0M) |
| Cash, cash equivalents and restricted cash, beginning of period | $980.7M | $980.7M | $1.2B | $1.2B |
| Cash, cash equivalents and restricted cash, end of period | $238.9M | $931.8M | — | — |
| Less: Restricted cash | ($218.0K) | ($479.0M) | ($479.0M) | ($482.6M) |
| Cash and cash equivalents, end of period | $238.7M | $452.8M | $548.2M | $154.3M |
Hawaiian Electric Industries Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.