Key Points – Hawaiian Electric Industries finalized the Maui wildfire settlement after the last insurer appeals were withdrawn, making its first of four annual $479 million payments and marking what management called a “year of transition.” – First-quarter results were mixed:…
I’s net income rose to $30.5 million from $26.7 million a year ago, but core earnings declined due to severe weather-related costs, higher insurance expenses, and increased interest expense. – The company is pushing ahead with a 2027 rate rebasing proposal that would raise consolidated base rates about 5.3% over two years, while also advancing the Waiau repowering project after receiving regulatory approval for $908 million in cost recovery. – End the Year Strong With These 3 Comeback Champions Hawaiian Electric Industries (NYSE:HE) said it entered 2026 in a “year of transition” after finalizing the Maui wildfire tort settlement and moving forward with a rate rebasing proposal designed to support utility investment while moderating customer bill impacts. On the company’s first-quarter 2026 earnings call, President and CEO Scott Seu said the final conditions of the Maui wildfire settlement were satisfied on April 10 after the last subrogation insurers withdrew their appeals
HEI then made the first of four annual $479 million payments required under the agreement. – 3 Energy Stocks That Could Rally If the Oil Bears Are Wrong “This marks a pivotal milestone for those who were impacted by the Maui wildfires, and our hearts are with them as they continue on their journey of healing and recovery,” Seu said. The company reported first-quarter net income of $30.5 million, or $0.18 per share, compared with $26.7 million, or $0.15 per share, in the same period of 2025. Excluding Maui wildfire-related expenses and other non-core items, consolidated core net income was $31 million, or $0.18 per share, down from $39.8 million, or $0.23 per share, a year earlier.
Utility Earnings Pressured by Severe…