Overview

* Hawaiian Electric Q2 net income at $26 mln, reversing $1.3 bln loss in 2024

* Core income from continuing operations rises to $35 mln from $28 mln in 2024

* $5 mln earnings impact from asset impairment and tax credit recapture

* Legislation supports $500 mln in wildfire safety improvements

Outlook

* Company expects to divest remaining stake in American Savings Bank next year

* Hawaiian Electric to focus on affordable clean energy procurement

Result Drivers

* WILDFIRE SAFETY - Utility advances wildfire safety strategy, supported by new legislation, per CEO Scott Seu

* ASSET SALE IMPACT - $5 mln earnings impact from asset impairment and tax credit recapture related to Pacific Current asset sale

* REVENUE INCREASE - $7 mln higher revenues driven by annual revenue adjustment mechanism and demand response revenues

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $746.39

Revenue mln

Q2 EPS $0.15

Q2 Net $26.08

Income mln

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the electric utilities peer group is "buy."

* Wall Street's median 12-month price target for Hawaiian Electric Industries Inc ( HE ) is $11.75, about 6% above its August 6 closing price of $11.05

* The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)