HAWAIIAN ELECTRIC INDUSTRIES INC
For the period ended Mar 31, 2025. Filed May 9, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 9, 2025
HE$9.08+0.1%Stored close · as of Nov 10, 2026
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Item 1. Financial Statements
Condensed Consolidated Statements of Income (unaudited)
| (in thousands, except per share amounts) | 2025 | 2024 |
|---|---|---|
| Revenues | ||
| Electric utility | $738,366 | $788,578 |
| Other | 5,704 | 3,436 |
| Total revenues | 744,070 | 792,014 |
| Expenses | ||
| Electric utility | 662,429 | 725,223 |
| Other | 19,221 | 15,904 |
| Total expenses | 681,650 | 741,127 |
| Operating income (loss) | ||
| Electric utility | 75,937 | 63,355 |
| Other | (13,517) | (12,468) |
| Total operating income | 62,420 | 50,887 |
| Retirement defined benefits credit—other than service costs | 917 | 1,001 |
| Interest expense, net | (34,212) | (31,591) |
| Allowance for borrowed funds used during construction | 1,417 | 1,386 |
| Allowance for equity funds used during construction | 3,585 | 3,640 |
| Interest income | 12,623 | 3,133 |
| Loss on sale of a subsidiary | (13,211) | — |
| Income from continuing operations before income taxes | 33,539 | 28,456 |
| Income tax expense | 6,395 | 6,795 |
| Income from continuing operations | 27,144 | 21,661 |
| Preferred stock dividends of subsidiaries | 473 | 473 |
| Income from continuing operations for common stock | 26,671 | 21,188 |
| Income from discontinued operations | — | 20,934 |
| Net income for common stock | $26,671 | $42,122 |
| Continuing operations - Basic earnings per common share | $0.15 | $0.19 |
| Discontinued operations - Basic earnings per common share | — | 0.19 |
| Basic earnings per common share | $0.15 | $0.38 |
| Continuing operations - Diluted earnings per common share | $0.15 | $0.19 |
| Discontinued operations - Diluted earnings per common share | — | 0.19 |
| Diluted earnings per common share | $0.15 | $0.38 |
| Weighted-average number of common shares outstanding: | ||
| Basic | 172,478 | 110,218 |
| Diluted | 172,812 | 110,476 |
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