Filing Flows › Hawaiian Electric Industries (HE) › Q3 2026 › vs Q3 2025
Hawaiian Electric Industries (HE) Q3 2026 vs Q3 2025 (year over year)
Hawaiian Electric Industries's revenue rose $218M (+28%) from $791M in Q3 2025 to $1.0B in Q3 2026. The biggest changes: Electric energy sales - large light and power +$81.4M (+29%); Electric energy sales - residential +$65.6M (+25%); Electric energy sales - commercial +$61.3M (+24%). Operating margin 4.1% against 6.6% (-2.5 pts).
Hawaiian Electric Industries, Q3 2026: revenue $1.0B (+28% year over year), operating margin 4.1%, net earnings $35.5M, operating cash flow $119M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 4.1% | 6.6% | -2.5 pts |
| Net margin | 3.5% | 3.9% | -0.4 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Electric energy sales - large light and power | $360M | $278M | $81.4M | +29% |
| Electric energy sales - residential | $327M | $262M | $65.6M | +25% |
| Electric energy sales - commercial | $313M | $251M | $61.3M | +24% |
| Electric energy sales - other | $5.3M | $4.3M | $1.0M | +24% |
| Revenue | $1.0B | $791M | $218M | +28% |
| Operating profit | $41.2M | $52.0M | −$10.8M | -21% |
| Costs & expenses | $967M | $739M | $229M | +31% |
| Pre-tax earnings | $19.5M | $39.9M | −$20.5M | -51% |
| Other expense, net | $21.7M | $12.1M | $9.6M | +80% |
| Income tax benefit | $16.0M | −$8.7M | $24.7M | — |
| Net earnings | $35.5M | $31.2M | $4.2M | +14% |
| Depreciation & amortization | $75.0M | $74.0M | $1.1M | +1% |
| Share-based compensation | $3.5M | $0 | $3.5M | — |
| Working capital & other | $5.3M | −$4.9M | $10.3M | — |
| Operating cash flow | $119M | $100M | $19.1M | +19% |
| Capital expenditures | $157M | $94.0M | $63.4M | +67% |
| Negative free cash flow (OCF − capex) | $38.0M | −$6.3M | $44.3M | — |
Questions
How much did Hawaiian Electric Industries's revenue grow year over year in Q3 2026?
Hawaiian Electric Industries's revenue rose $218M (+28%) from $791M in Q3 2025 to $1.0B in Q3 2026.
What drove Hawaiian Electric Industries's revenue change in Q3 2026?
Electric energy sales - large light and power +$81.4M (+29%); Electric energy sales - residential +$65.6M (+25%); Electric energy sales - commercial +$61.3M (+24%).