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What Awaits Edison International (EIX) in Q4 Earnings?
Zacks Investment Research· 2024-02-20 14:01
Edison International (EIX) is slated to report fourth-quarter and full-year 2023 results on Feb 22, after market close.EIX has a trailing four-quarter average earnings surprise of 3.37%.Factors to NoteIn the to-be-reported quarter, EIX’s service territories witnessed a warmer-than-normal weather pattern accompanied by below normal precipitation.  Such a weather pattern is likely to have increased the demand for electricity for cooling purposes, positively impacting the company’s overall revenues.Edison Inte ...
Edison International (EIX) Earnings Expected to Grow: Should You Buy?
Zacks Investment Research· 2024-02-15 16:07
Edison International (EIX) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on February 22, 2024, might help the stock move higher if these key numbers are b ...
Edison International(EIX) - 2023 Q3 - Earnings Call Presentation
2023-11-02 00:49
Statements contained in this presentation about future performance, including, without limitation, operating results, capital expenditures, rate base growth, dividend policy, financial outlook, and other statements that are not purely historical, are forward-looking statements. These forward-looking statements reflect our current expectations; however, such statements involve risks and uncertainties. Actual results could differ materially from current expectations. These forward-looking statements represent ...
Edison International(EIX) - 2023 Q3 - Earnings Call Transcript
2023-11-02 00:46
Edison International (NYSE:EIX) Q3 2023 Earnings Conference Call November 1, 2023 4:30 PM ET Company Participants Sam Ramraj - VP of IR Pedro Pizarro - President and CEO Maria Rigatti - EVP and CFO Steven Powell - President and CEO of Southern California Edison Conference Call Participants Anthony Crowdell - Mizuho Securities Shar Pourreza - Guggenheim Partners Angie Storozynski - Seaport Gregg Orrill - UBS Ryan Levine - Citi Michael Lonegan - Evercore ISI David Arcaro - Morgan Stanley Paul Zimbardo - Bank ...
Edison International(EIX) - 2023 Q3 - Quarterly Report
2023-10-31 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ☐ EXCHANGE ACT OF 1934 For the transition period from to Commission File Number Exact Name of Registrant as specified in its charter 1-9936 EDISON INTERNATIONAL California 95-4137452 1-2313 SOU ...
Edison International(EIX) - 2023 Q2 - Earnings Call Transcript
2023-07-28 00:55
Financial Data and Key Metrics - The company reaffirmed its full-year core EPS guidance of $4.55 to $4.85 for 2023 [22] - Core EPS for Q2 2023 was $1.01, with a $0.13 year-over-year increase driven by GRC attrition year revenue escalation ($0.19), higher FERC and other revenue ($0.04), and balancing account interest income ($0.10), partially offset by a $0.16 increase in interest expense [181][105] - The company expects 5% to 7% EPS growth from 2021 through 2025, with a pathway to $7 EPS potential by 2028 [146][43] - SCE's 2025 base revenue requirement is $10.3 billion, a $1.9 billion (12%) increase over 2024 rates, leading to a 9% system average rate increase and a 10% average residential customer bill increase [16] Business Line Data and Key Metrics - SCE's capital expenditure forecast for 2023-2028 is $38 to $43 billion, with over 85% allocated to distribution grid investments [162][182] - SCE has implemented AI and technology advancements, including computer vision algorithms for T&D inspections, reducing wildfire risks and improving operational efficiency [17][35] - SCE's wildfire mitigation efforts have reduced the probability of catastrophic wildfire losses by 85% compared to pre-2018 levels [151] - SCE's energy storage portfolio exceeded 5,000 megawatts by year-end, one of the largest in the nation [159] Market Data and Key Metrics - SCE's rate base growth is projected at 6% to 8%, starting from a 2023 base of $41.9 billion, nearly 20% higher than two years ago [164] - The California Independent System Operator (CAISO) identified $2.3 billion in transmission projects for SCE, with an additional $3 billion in competitive projects in Southern California [183] - The state of California allocated $2.7 billion over four years for forest resiliency and fire suppression, maintaining 98% of the original proposal [38] Company Strategy and Industry Competition - SCE is focused on advancing California's clean energy transition, maintaining cost leadership, and achieving net-zero commitments [15][20] - The company is leveraging AI, robotic process automation, and mobile solutions to enhance customer experience, grid planning, and operational efficiency [36] - SCE's 2025 GRC application emphasizes grid reliability, resilience, and readiness to support California's decarbonization goals [147] - The company is exploring additional capital deployment opportunities, with at least $2 billion in potential investments to be requested in standalone applications [23] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in achieving 5% to 7% EPS growth through 2028, driven by strong rate base growth and stabilized headwinds [61][188] - The company highlighted the potential for cost recovery in legacy wildfire proceedings, which could provide substantial upside to long-term earnings [27] - Management noted the importance of the CHIPS Act and federal infrastructure investments in supporting long-term supply chain resilience [31] - The company is prepared for the wildfire season, with 76% of distribution lines in high fire risk areas expected to be hardened by year-end [19] Other Important Information - SCE's operational excellence program has identified O&M savings, including $55 million from combined ground and aerial inspections [41][24] - The company has achieved $160 million in annual savings through its expanded wildfire self-insurance program [186] - SCE's vegetation management program inspects 1.6 million trees annually, mitigating approximately 850,000 trees, with over half in high fire risk areas [176] Q&A Session Summary Question: Long-term EPS growth and rate base growth alignment - Management clarified that the 5% to 7% EPS growth aligns with rate base growth, with stabilization of past headwinds and strong AFEDC growth contributing to this alignment [108][110] Question: Equity financing and capital needs - The company plans to rely on internal equity programs, generating approximately $100 million annually, to meet equity needs through 2028 [53][78] Question: CAISO transmission opportunities - CAISO's transmission planning process identifies projects on a 20-year outlook, with $2.3 billion in incumbent projects for SCE and $3 billion in competitive projects [57][58] Question: Operational variances and AFEDC - Management provided sensitivities for operational variances, including AFEDC and depreciation adjustments, with AFEDC expected to rise from $0.30-$0.35 to $0.45 by 2028 [100][111] Question: CCM trigger and ROE adjustment - The CCM is likely to trigger, with an advice letter to be filed in October for a potential ROE adjustment, though this is not factored into the 5% to 7% EPS growth target [106][125] Question: Wildfire cost recovery - SCE will file a cost recovery application in August for the 2017 and 2018 wildfire events, seeking full CPUC cost recovery [37][51]
Edison International(EIX) - 2023 Q2 - Earnings Call Presentation
2023-07-27 22:14
Procurement: Finding Ways to Buy Better 2025 Investments in safety and reliability of the grid 1. See EIX Core EPS Non-GAAP Reconciliations and Use of Non-GAAP Financial Measures in Appendix 2. For comparability, 2023 year-to-date key EPS drivers are reported based on 2022 weighted-average share count of 380.9 million. 2023 year-to-date weighted-average shares outstanding is 382.8 million 3. Includes $0.02 lower revenue related to higher tax benefits subject to balancing accounts and offset with income taxe ...
Edison International(EIX) - 2023 Q2 - Quarterly Report
2023-07-26 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 (Registrant's telephone number, including area code) (Registrant's telephone number, including area code) State or Other Jurisdiction of Incorporation or Organization IRS Employer Identification Number SOUTHERN CALIFORNIA EDISON COMPANY 2244 Walnut Grove Avenue 2244 ...
Edison International(EIX) - 2023 Q1 - Earnings Call Transcript
2023-05-02 22:33
Edison International (NYSE:EIX) Q1 2023 Earnings Conference Call May 2, 2023 4:30 PM ET Company Participants Sam Ramraj - Vice President of Investor Relations Pedro Pizarro - President and Chief Executive officer Maria Rigatti - Executive Vice President and Chief Financial Officer Steven Powell - President and Chief Executive Officer of Southern California Edison Conference Call Participants Angie Storozynski - Seaport Shar Pourreza - Guggenheim Partners Ryan Levine - Citi Gregg Orrill - UBS Julien Dumoulin ...
Edison International(EIX) - 2023 Q1 - Quarterly Report
2023-05-01 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ☐ EXCHANGE ACT OF 1934 For the transition period from to | Commission | Exact Name of Registrant | State or Other Jurisdiction of | IRS Employer | | --- | --- | --- | --- | | File Number | as speci ...