Financial Data and Key Metrics - Core EPS for Q2 2024 was $1.23, bringing year-to-date core EPS to $2.37 [9] - The company reaffirmed its 2024 core EPS guidance of $4.75 to $5.05 [9] - SCE's system average rate decreased to $0.267 per kilowatt-hour, lower than at the start of the year [17] - SCE reduced rates by about 2% on June 1, driven by the removal of historical costs [22] - SCE's 10-year load growth forecast increased by 35% compared to the 2022 distribution system plan [14] Business Line Data and Key Metrics - SCE delivered 52% carbon-free power to customers in 2023, 55% cleaner than the national average [30] - SCE contracted approximately 2,200 megawatts of energy storage, bringing the total to 8,100 megawatts [30] - SCE has deployed approximately 5,900 miles of covered conductor, with 84% of plant hardening complete [25] - SCE expects to approach 90% of total distribution lines in high fire risk areas being hardened by the end of 2025 [25] Market Data and Key Metrics - SCE's rate increases through 2028 are projected to align closely with local inflation levels, at 2.6% [23] - SCE's wildfire risk reduction is estimated at 85% to 88% compared to pre-2018 levels [18] - SCE's total hardened miles in high fire risk areas exceed those of all other California IOUs combined [26] Company Strategy and Industry Competition - The company is leading the charge toward a carbon-neutral California, with sustainability at the core of its strategy [12][31] - SCE is focusing on grid investments to support a resilient, equitable clean energy economy [29] - The company is well-positioned to address load growth and resulting capital needs due to its low system average rate among California IOUs [35] Management Commentary on Operating Environment and Future Outlook - Load growth trends are materializing sooner than expected, with potential upside for SCE's CapEx opportunities [12][13] - The company expects new policies to drive higher customer adoption of electric vehicles and building electrification [15] - SCE's operational and financial risk profiles have significantly improved, with wildfire risk reduction exceeding 90% in some scenarios [18][19] Other Important Information - SCE has resolved 98% of TKM individual plaintiff claims and 92% of Woolsey individual plaintiff claims [44] - SCE's 2025 GRC underpins the company's forecast for continued rate base growth [45] - The company has equity needs of only $400 million for the 2025 through 2028 period, despite substantial capital deployment plans [53] Q&A Session Summary Question: GRC Partial Settlement and Remaining Debates [54] - The company has reached partial settlements covering 12 areas of the GRC, representing nearly 20% of the O&M request and about 8% of the capital request [41] - Management is confident in achieving a constructive final decision due to the alignment of intervener proposals with the lower end of the company's range [55][56] Question: Load Growth and Incremental Investment [57] - Load growth is materializing faster than expected, with potential for incremental investment in the planning period through 2028 [57] - The company has flexibility to reprioritize capital within the GRC cycle and may pursue alternative funding mechanisms for additional investments [58][59] Question: Legacy Wildfire Cost Recovery [62] - The company is open to settlements but cannot comment on specific elements of the case at this time [62] - The next steps include a case management statement due on August 7, with hearings scheduled for November or January [63] Question: Capital Allocation and Wildfire Claims Recovery [65] - Recovery from wildfire claims will improve credit metrics, with every $1 billion in recovery improving metrics by 40 to 50 basis points [66] - The company plans to securitize the recovery and may replace higher-cost equity content securities with regular way debt [66][68] Question: 2024 EPS Guidance and Load Demand [70] - The company is confident in achieving its 2024 core EPS guidance of $4.75 to $5.05 [70] - The ability to fund additional capital without additional equity depends on the timing of investments and the company's FFO-to-debt financing framework [71] Question: Load Growth Forecast and EV Impact [74] - The company is seeing 2% to 3% load growth in the near term, with a 10-year forecast showing a 35% increase [74] - Federal incentives, such as those from the Inflation Reduction Act, are helping to lower the cost of the transition to electric vehicles [91][92] Question: NextGen ERP System and Load Growth [87] - The NextGen ERP system application will focus on cost and benefits, particularly in improving work management efficiency [87] - The system is not in competition with load growth investments, as both are necessary for meeting customer demand and running an efficient operation [88] Question: TKM Recovery and Cal Advocates Testimony [95] - The company views the lack of additional testimony from other parties as an opportunity for further engagement and does not read too much into the initial step [96]

Over the last four quarters, the company has surpassed consensus EPS estimates three times. What's Next for Edison International? It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.48 on $4.71 billion in revenues for the coming quarter and $4.92 on $16.5 billion in revenues for the current fiscal year. Portland General Electric's revenues are expected to be $709.44 million, up 9.5% from the year-ago 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, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to FORWARD-LOOKING STATEMENTS ● changes in future taxable income, or changes in tax law, that would limit Edison International's and SCE's realization of expected net operating loss and tax credit carryover benefits prior to expiration; | --- | ...

[Edison International Q2 2024 Earnings Release](index=1&type=section&id=Edison%20International%20Reports%20Second-Quarter%202024%20Results) [Q2 2024 Financial Highlights](index=1&type=section&id=Q2%202024%20Financial%20Highlights) Edison International reported strong second-quarter 2024 results, with both GAAP and Core EPS increasing year-over-year, driven by Southern California Edison's performance despite higher interest expenses Q2 2024 Key Financial Metrics | Metric | Q2 2024 | Q2 2023 | Change | | :--- | :--- | :--- | :--- | | **Net Income** | $439 million | $354 million | +$85 million | | **GAAP EPS** | $1.14 | $0.92 | +$0.22 | | **Core Earnings** | $475 million | $388 million | +$87 million | | **Core EPS** | $1.23 | $1.01 | +$0.22 | - Southern California Edison's (SCE) **core EPS** increased year-over-year, mainly due to higher authorized revenue, an increased authorized rate of return, and recognition of return on rate base for wildfire restoration efforts, partially offset by higher interest expense[1](index=1&type=chunk) - SCE has completed **84%** of its planned hardening of distribution lines in high fire risk areas, marking a significant milestone in its wildfire mitigation efforts[18](index=18&type=chunk) [2024 Earnings Guidance and Outlook](index=1&type=section&id=2024%20Earnings%20Guidance%20and%20Outlook) The company reaffirmed its full-year 2024 core EPS guidance and long-term growth targets, anticipating significant grid expansion due to projected load growth 2024 Core EPS Guidance (Reaffirmed) | Guidance Metric | Low | High | | :--- | :--- | :--- | | **Core EPS** | $4.75 | $5.05 | - The company reiterated its long-term **core EPS** growth rate targets of **5%-7%** for the 2021-2025 period and **5%-7%** for the 2025-2028 period[18](index=18&type=chunk) - SCE's latest 10-year forecast projects **35%** higher load growth, which will require significant expansion of the electric system to ensure reliability and resilience[2](index=2&type=chunk) [Share Repurchase Program](index=3&type=section&id=Share%20Repurchase%20Program) The Board of Directors authorized a new stock repurchase program of up to $200 million to offset dilution from employee compensation programs - The Board authorized a stock repurchase program for up to **$200 million** of its common stock[3](index=3&type=chunk) - The program is effective from July 29, 2024, until December 31, 2025, and will be funded using the company's working capital[3](index=3&type=chunk) - The purpose of the repurchase is to offset dilution from common stock issued under the company's long-term incentive compensation programs, and the program may be suspended or discontinued at any time[3](index=3&type=chunk)[20](index=20&type=chunk) [Financial Statements and Reconciliations](index=5&type=section&id=Appendix) [Reconciliation of GAAP to Non-GAAP Earnings](index=8&type=section&id=Reconciliation%20of%20Basic%20Earnings%20to%20Core%20Earnings) This section details the reconciliation of GAAP earnings to non-GAAP core earnings, highlighting non-core items primarily related to wildfire claims and expenses EPS Reconciliation: GAAP vs. Core (Q2 & H1 2024) | Per Share Data | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | **GAAP EPS** | $1.14 | $1.11 | | **Non-core Items** | ($0.09) | ($1.26) | | **Core EPS** | $1.23 | $2.37 | Net Income Reconciliation: GAAP vs. Core (Q2 & H1 2024, in millions) | (in millions) | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Net Income** | $439 | $428 | | **Non-core Items** | ($36) | ($485) | | **Core Earnings** | $475 | $913 | - Non-core items for the six months ended June 30, 2024, included charges for wildfire claims and expenses, net of recoveries, totaling **$478 million** (**$344 million** after-tax)[16](index=16&type=chunk) [Consolidated Statements of Income](index=11&type=section&id=Consolidated%20Statements%20of%20Income) For the first half of 2024, operating revenue increased, but a significant rise in wildfire-related claims led to a decrease in net income available to common shareholders Consolidated Income Statement Highlights (in millions) | Metric | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | | **Operating Revenue** | $8,414 | $7,930 | | **Total Operating Expenses** | $7,269 | $6,586 | | **Operating Income** | $1,145 | $1,344 | | **Net Income Available to Common Shareholders** | $428 | $664 | [Consolidated Balance Sheets](index=12&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2024, total assets increased to $84.8 billion, driven by utility property, plant, and equipment, while total liabilities also rose due to long-term debt Key Balance Sheet Items (in millions) | Metric | June 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Total Current Assets** | $8,512 | $6,811 | | **Total Property, Plant and Equipment** | $57,349 | $56,084 | | **Total Assets** | $84,818 | $81,758 | | **Long-term Debt** | $33,099 | $30,316 | | **Total Liabilities** | $66,950 | $63,814 | | **Total Equity** | $17,868 | $17,944 | [Consolidated Statements of Cash Flows](index=14&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities significantly increased in the first six months of 2024, while investing activities remained stable and financing activities rose Cash Flow Summary (in millions) | Metric | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | $1,372 | $712 | | **Net Cash used in Investing Activities** | ($2,670) | ($2,650) | | **Net Cash from Financing Activities** | $1,565 | $1,219 | | **Net Change in Cash** | $267 | ($719) | | **Cash at End of Period** | $799 | $198 | [Other Information](index=3&type=section&id=Other%20Information) [Safe Harbor Statement & Risk Factors](index=5&type=section&id=Safe%20Harbor%20Statement%20%26%20Risk%20Factors) The report includes forward-looking statements and outlines key risks such as regulatory decisions, cost recovery, extreme weather, cybersecurity, and supply chain issues - The report contains forward-looking statements that reflect current expectations but involve risks and uncertainties, and the company assumes no duty to update them[25](index=25&type=chunk)[14](index=14&type=chunk) - **Key operational and financial risks** include: - Decisions by regulatory bodies like the CPUC and FERC - Recoverability of costs related to wildfires and mitigation efforts - Extreme weather events exacerbated by climate change - Cybersecurity of critical IT systems - Cost and availability of labor and materials due to supply chain issues and inflation - Actions by credit rating agencies[9](index=9&type=chunk)[34](index=34&type=chunk) [Use of Non-GAAP Financial Measures](index=5&type=section&id=Use%20of%20Non-GAAP%20Financial%20Measures) Edison International utilizes non-GAAP measures like 'core earnings' and 'core EPS' for internal planning and to provide investors with a clearer view of ongoing performance - Management uses **core earnings** and **core EPS** for internal financial planning, performance analysis, and communication with investors[24](index=24&type=chunk)[19](index=19&type=chunk) - **Core earnings** are defined as basic earnings excluding income or loss from discontinued operations and significant discrete items not representative of ongoing earnings[33](index=33&type=chunk) [Conference Call Information](index=3&type=section&id=Conference%20Call%20Information) The Q2 2024 earnings conference call was held on July 25, 2024, with related materials available on the company's investor relations website - The earnings conference call was held on Thursday, July 25, at 1:30 p.m. PDT[22](index=22&type=chunk) - Prepared remarks, the teleconference presentation, and the Form 10-Q are available at edisoninvestor.com[31](index=31&type=chunk)

Core Viewpoint - Edison International (EIX) is positioned well to potentially beat earnings estimates in its upcoming quarterly report, supported by a solid history of exceeding expectations [1][4]. Earnings Performance - Edison International has a track record of surpassing earnings estimates, with an average surprise of 2.91% over the last two quarters [2]. - In the most recent quarter, the company reported earnings of $1.13 per share against an expectation of $1.12, resulting in a surprise of 0.89%. In the previous quarter, it reported $1.28 per share compared to an estimate of $1.22, achieving a surprise of 4.92% [3]. Earnings Estimates and Predictions - Estimates for Edison International have been trending upward, influenced by its history of earnings surprises. The stock currently has a positive Zacks Earnings ESP of +0.66%, indicating bullish sentiment among analysts regarding its near-term earnings potential [4][7]. - The combination of a positive Earnings ESP and a Zacks Rank of 2 (Buy) suggests a strong likelihood of another earnings beat in the upcoming report, scheduled for July 25, 2024 [7]. Statistical Insights - Research indicates that stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have a nearly 70% chance of producing a positive surprise [5]. - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, with the Most Accurate Estimate reflecting the latest analyst revisions, which may be more accurate than earlier predictions [6].

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NEW YORK, July 18, 2024 /PRNewswire/ -- The Rockefeller Foundation announced today that John W. Rogers Jr., Chairman and co-CEO of Ariel Investments, LLC, has joined the Economic Opportunity Coalition's (EOC) Management Committee as Chair. In addition, the EOC is an innovative initiative that has received new procurement commitments from Edison International, Exelon Corporation, and Southern Company. The three companies join Xcel Energy, Micron, and Air Product in advancing the EOC's goal of partnering with ...

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It has been about a month since the last earnings report for Edison International (EIX) . Shares have added about 2.9% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Edison International due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Edison International Q1 E ...

D-Keine I've been looking at the preferred issues of Southern California Edison, the main subsidiary of Edison International (NYSE:EIX), in line with the thesis the market hasn't fully realized how much wildfire risk has decreased for California utilities. SoCal Edison provides electricity for about 15 million people in a 50,000 square-mile area of Central and Southern California. Edison International also owns Edison Energy, a global advisory firm, but it is too small to have a material effect on operation ...