AI Earnings Predictions for Hawaiian Electric Industries Inc. (HE)

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2 heiexhibit99-8xk11x06x26.htm

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Document

HEI Exhibit 99

NEWS RELEASE

November 6, 2026

Contact:Mateo GarciaTelephone: (808) 543-7300

Director, Investor RelationsE-mail: ir@hei.com

HEI REPORTS THIRD QUARTER 2026 RESULTS

•Strong and Effective Response to Elevated Storm Activity During the Quarter

◦Power Restored to Customers Quickly and Safely Following Storms

◦Grid Resilience investments Continuing to Reduce Wildfire Risk While Delivering Value for Customers In Face of Severe Weather

•Consolidated GAAP Net Income for the Quarter of $35 Million Compared to $31 Million in 2025

◦Core1 Net Income for the Quarter Was $23 Million Compared to $33 Million in 2025

◦Consolidated GAAP Net Income Includes Gains from American Savings Bank’s Initial Public Offering, Partially Offset by Non-Cash Impacts Related to HEI’s Strategic Business Simplification and Non-Cash Impacts Related to Maui Wildfire Settlement Liability Accounting Adjustments

◦GAAP and Core Results Also Reflect $14 Million of Incremental Pre-Tax Storm-Related Costs; Utility Will Be Requesting Recovery of Storm Costs Once Final Incremental Costs Are Known.

•$80 Million of Second Settlement Payment Prepaid To Date, Reducing the $479 Million Amount Due by $82 Million (After Early-Payment Discount). Company Will Continue to Evaluate Early Payments of Wildfire Settlement Liability

HONOLULU - Hawaiian Electric Industries, Inc. (NYSE - HE) (HEI) today reported net income for the third quarter of 2026 of $35 million, or $0.20 per share, compared to net income of $31 million, or $0.18 per share in the third quarter of 2025. The quarter’s results include $64

Note: Throughout this release, per share values are calculated based on diluted shares.

1     Measures described as “Core” for the periods in this news release are non-GAAP measures which exclude Maui wildfire-related items, impacts related to HEI’s ownership stake in American Savings Bank and expenses taken in connection with the strategic review of Pacific Current. See the “Explanation of HEI’s Use of Certain Unaudited Non-GAAP Measures” and the related GAAP reconciliation at the end of this release.

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million of realized and unrealized pre-tax gains related to HEI’s investment in American Savings Bank (ASB) and a non-cash $51 million pre-tax asset impairment recorded at Pacific Current. (See “Holding Company and Other Segment” section of this release for further detail on ASB and Pacific Current-related impacts.) Excluding these impacts, and excluding Maui wildfire-related items, Core net income for the quarter was $23 million, or $0.13 per share, compared to $33 million, or $0.19 per share in the third quarter of 2025. Both GAAP and Core net income include $14 million of estimated incremental pre-tax costs related to storm activity in August and September.

“Our company continued to execute well on strategic priorities during the third quarter, working to deliver safe, affordable, reliable and resilient power to our customers. Our resilience investments under the Wildfire Mitigation Plan proved beneficial during the severe weather in August and September, which caused damage statewide. Our crews restored power quickly and safely to affected customers,” said Scott Seu, HEI CEO.

“Reducing wildfire risk to our communities remains a top priority and is central to our grid investments. Our Wildfire Mitigation Plan is on schedule, and has significantly reduced wildfire risk across our service territories since 2023. We’ve implemented industry-wide best practices, adopting proven measures used by wildfire-affected utilities on the mainland, and tailored to our very different risk profile.

“Maintaining the financial capacity to deliver a safe, reliable and resilient grid is essential. We also recognize customers’ significant cost pressures, especially for low-income customers, and are focused on financing and phasing investments to manage bill impacts. Our pending rate rebasing request proposes a 5.3% base rate increase, phased in over two years and aligned with inflation, to support continued grid investment. We also recently sought approval for up to $500 million in wildfire safety and resilience investments through a structure passed by our legislature last year to lower customer costs while advancing public safety.”

HAWAIIAN ELECTRIC COMPANY (HAWAIIAN ELECTRIC) EARNINGS

Hawaiian Electric’s net income for the third quarter of 2026 was $13 million compared to net income of $37 million in the third quarter of 2025, with the decrease primarily driven by the following pre-tax variances (among others):

•$20 million in higher O&M expense, driven by $14 million of incremental storm costs in August and September and approximately $6 million of expenses transferred from the

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holding company to the utility following integration (but not included in customer rates)2. These were partially offset by lower transmission and distribution costs and lower wildfire mitigation program expenses (

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2 heiexhibit99-8xk08x07x26.htm

EX-99

Document

HEI Exhibit 99

NEWS RELEASE

August 7, 2026

Contact:Mateo GarciaTelephone: (808) 543-7300

Director, Investor RelationsE-mail: ir@hei.com

HEI REPORTS SECOND QUARTER 2026 RESULTS

•One of Hawaiian Electric’s Largest-Ever Energy Solicitations Submitted for PUC Approval in July; Plan Would Meet Customers’ Growing Energy Needs While Modernizing Generation Fleet to Stabilize and Drive Down Costs

•Wildfire Mitigation Plan (WMP) Recovery Approved, Ensuring Critical Investments While Prioritizing Customer Affordability Through Planned Securitization

◦Recent S&P Ratings Upgrade Acknowledges Progress Made to Implement WMP and Reduce Wildfire Risk Exposure

•GAAP Net Income for the Quarter of $123 Million Includes a $101 Million1 After-tax Non-Cash Gain from Remeasuring the Remaining Wildfire Settlement Liability to Present Value. Core2 Net Income for the Second Quarter Was $22 Million Compared to $35 Million in 2025

HONOLULU - Hawaiian Electric Industries, Inc. (NYSE - HE) (HEI) today reported net income for the second quarter of 2026 of $123 million, or $0.71 per share, compared to net income of $26 million, or $0.15 per share in the second quarter of 2025. The quarter’s results include the impact of remeasuring the remaining Maui wildfire settlement liability to present value after the settlement agreement was finalized in April, resulting in the remaining payment obligations becoming fixed under contract. Excluding Maui wildfire-related items and expenses taken in connection with the review of strategic options for Pacific Current, Core net income was $22 million, or $0.13 per share, compared to $35 million, or $0.20 per share in 2025.

Note: Throughout this release, per share values are calculated based on diluted shares.

1     $114.2 million benefit ($153.9 million pre-tax) recognized in utility expenses, net of $13.2 million ($17.7 million pre-tax) accretion recognized in interest expense.

2     Measures described as “Core” for the periods in this news release are non-GAAP measures which exclude Maui wildfire-related items and expenses taken in connection with the strategic review of Pacific Current. See the “Explanation of HEI’s Use of Certain Unaudited Non-GAAP Measures” and the related GAAP reconciliation at the end of this release.

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“In June we filed our annual action plan update to our IGP, laying out immediate actions necessary to meet customers’ growing energy needs while improving reliability, resilience and affordability. These actions include using competitive procurements for all types of generation to attract the lowest pricing for customers, and on July 17 we submitted our IGP Request for Proposals to the PUC. We are seeking to procure nearly 1,650 gigawatt-hours of variable renewable energy, 465 megawatts of grid forming resources and 111 megawatts of firm generating capacity. The proposed procurement is one of our largest ever, and would help us build a portfolio that meets the requirements of reliability and lower carbon emissions at the least cost to customers,” said Scott Seu, HEI president and CEO.

“We’ve also continued progressing our Wildfire Mitigation Plan implementation, with the PUC fully approving our Wildfire Mitigation Plan costs, which we plan to securitize as we prioritize customer affordability. Our positive credit ratings trajectory has continued as another rating agency upgraded us in recent months, acknowledging the progress we’ve made reducing wildfire risk in our service territories. Stronger credit ratings ultimately lower our cost of borrowing, which directly improves customer affordability. Moving forward, we’ll continue to focus on making the investments outlined in our Wildfire Mitigation Plan, while operating efficiently and maintaining financial strength,” said Seu.

HAWAIIAN ELECTRIC COMPANY (HAWAIIAN ELECTRIC) EARNINGS

Hawaiian Electric’s net income for the second quarter of 2026 was $138 million compared to net income of $39 million in the second quarter of 2025, with the increase primarily driven by the following pre-tax variances (among others):

•$154 million from remeasurement of the remaining settlement liability to present value (as the remaining settlement liability was adjusted from $1.44 billion to $1.30 billion and recognized on the income statement as a reduction to expense of $154 million);

•$9 million of insurance recoveries recognized as an adjustment to the tort-related legal claims;

•$8 million in higher revenues, primarily from the annual revenue adjustment mechanism; and

•$1 million in higher interest income.

These items were partially offset by (among others):

•$23 million in higher interest expense, which includes $18 million of accretion expense related to remeasuring the remaining settlement liability to present value;

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•$9 million in higher O&M (driven by higher generation, transmission and distribution costs, higher labor and employee benefits costs and higher other

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