HE Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	3,064	3,207	3,270	3,409	2,846	2,579
Other Revenue	15.8	13.15	17.98	12.33	4.35	0.94
Revenue	3,080	3,220	3,288	3,421	2,850	2,580
Revenue Growth (YoY)	3.28%	-2.06%	-3.90%	20.02%	10.49%	-10.24%
Selling, General & Admin	-	-	-	-	24.45	21.57
Other Operating Expenses	2,855	3,013	3,008	3,138	2,434	2,250
Total Operating Expenses	2,855	3,013	3,008	3,138	2,458	2,271
Operating Income	225.43	206.99	279.01	283.24	391.91	308.28
Interest Expense	-120.7	-129.1	-127.42	-105.29	-96.25	-90.58
Interest Income	36.6	19.36	9.11	-	-	-
Net Interest Expense	-84.11	-109.74	-118.32	-105.29	-96.25	-90.58
Allowance for Equity Funds for Construction	14.62	13.79	15.16	10.57	9.53	8.77
Allowance for Borrowed Funds for Construction	5.79	5.47	5.2	3.42	3.25	2.99
EBT Excluding Unusual Items	161.73	116.52	181.05	191.94	308.45	229.46
Gain (Loss) on Sale of Investments	-	-	-0.64	8.12	0.53	9.28
Asset Writedown	-	-35	-	-	-	-
Other Unusual Items	-	-1,875	-	-	-	-
Pretax Income	149.36	-1,793	180.41	200.06	308.97	238.73
Income Tax Expense	36.69	-470.96	34.53	38.92	62.81	40.91
Earnings From Continuing Ops.	112.67	-1,323	145.88	161.15	246.17	197.82
Earnings From Discontinued Ops.	-97.41	-103.49	53.36	79.99	-	-
Net Income	15.26	-1,426	199.24	241.14	246.17	197.82
Net Income to Common	15.26	-1,426	199.24	241.14	246.17	197.82
Net Income Growth	-	-	-17.38%	-2.04%	24.44%	-9.21%
Shares Outstanding (Basic)	173	127	110	109	109	109
Shares Outstanding (Diluted)	173	127	110	110	110	109
Shares Change (YoY)	55.40%	15.35%	0.24%	0.18%	0.21%	-0.05%
EPS (Basic)	0.09	-11.23	1.82	2.20	2.25	1.81
EPS (Diluted)	0.09	-11.24	1.82	2.20	2.25	1.81
EPS Growth	-	-	-17.42%	-2.28%	24.31%	-9.04%
Free Cash Flow	78.46	143.23	108.74	115.14	61.15	45.51
Free Cash Flow Per Share	0.45	1.13	0.99	1.05	0.56	0.42
Dividend Per Share	-	-	1.080	1.400	1.360	1.320
Dividend Growth	-	-	-22.86%	2.94%	3.03%	3.13%
Profit Margin	0.50%	-44.29%	6.06%	7.05%	8.64%	7.67%
Free Cash Flow Margin	2.55%	4.45%	3.31%	3.37%	2.15%	1.76%
EBITDA	525.44	500.53	561.31	553.65	670.62	599.06
EBITDA Margin	17.06%	15.54%	17.07%	16.18%	23.53%	23.22%
D&A For EBITDA	300.01	293.53	282.31	270.41	278.7	290.78
EBIT	225.43	206.99	279.01	283.24	391.91	308.28
EBIT Margin	7.32%	6.43%	8.49%	8.28%	13.75%	11.95%
Effective Tax Rate	24.56%	-	19.14%	19.45%	20.33%	17.14%
Revenue as Reported	3,080	3,220	3,288	3,421	2,850	2,580

Updated Nov 7, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.

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