HAWAIIAN ELECTRIC INDUSTRIES INC

Hawaiian Electric Industries reported a 14.17% increase in consolidated net income for common stock, reaching $30.45 million, with basic EPS rising to $0.18 for the first quarter of 2026. Despite a slight increase in total revenues, consolidated operating income decreased by 14.49%. The utility segment, Hawaiian Electric Company, experienced a 26.08% decline in net income for common stock. The company continues to report substantial wildfire tort-related claims totaling $1.96 billion.

Hawaiian Electric Industries (HEI) reported Q1 2026 net income of $30 million ($0.18 per share), up from $27 million ($0.15 per share) in Q1 2025. However, Core net income, excluding wildfire-related expenses, decreased to $31 million ($0.18 per share) from $40 million ($0.23 per share) in the prior year, primarily due to higher operations and maintenance expenses at Hawaiian Electric. A significant milestone was achieved with the finalization of the global wildfire tort litigation settlement, leading to Moody's upgrading HEI and Hawaiian Electric's credit ratings. The company also announced leadership structure changes, unifying the CEO and President roles for HEI and Hawaiian Electric.

Hawaiian Electric Industries, Inc. (HEI) announced its 2026 Annual Meeting of Shareholders on June 11, 2026, to be held virtually. Following its transition to a pure-play electric utility, HEI proposes an expanded 12-member Board of Directors, integrating current Hawaiian Electric board members. The company reported 2025 net income of $123 million ($0.71 EPS) and core income of $149 million ($0.86 EPS), up 20% year-over-year, and achieved a critical milestone with the resolution of wildfire tort litigation.

Scott T. DeGhetto's term as Executive Vice President & Chief Financial Officer of Hawaiian Electric Industries, Inc. ended on April 1, 2026. The company subsequently entered into a one-year Consultant Services Agreement with Mr. DeGhetto, effective April 6, 2026. Under this agreement, he will advise on debt and equity financing, corporate dispositions, and other market-related projects, receiving a monthly fee of $200,000 and an additional $1,350,000 for special projects.

Hawaiian Electric Industries, Inc. and Hawaiian Electric Company, Inc. announced that the final condition to payment under the November 2024 settlement agreements for the 2023 Maui windstorm and wildfires has been met. This condition was satisfied when a judgment on subrogation claims became final and unappealable after insurers dismissed their appeals. Consequently, the companies authorized the first of four equal annual $479 million installments, with funds for this initial payment already raised and held, making the settlement releases effective.

Hawaiian Electric Industries and Hawaiian Electric Company announced that the final condition for their November 1, 2024 settlement agreements was met on April 10, 2026. These agreements are designed to resolve all tort-related claims stemming from the 2023 Maui windstorm and wildfires. The final condition was satisfied when a December 30, 2025 judgment on subrogation claims, obtained by HEI and Hawaiian Electric against over 200 insurers, became final and unappealable after all insurers stipulated to dismiss their appeals.