A palm tree burns as powerful winds fueling devastating wildfires in the Los Angeles area force people to evacuate, at the Eaton Fire in Altadena, California, U.S. Jan. 8, 2025.Fear and uncertainty surrounding the wildfires in California appear to be weighing on shares of Edison International , whose Southern California Edison is the power utility for the areas directly surrounding the city of Los Angeles.The drop comes as multiple large fires are burning around Los Angeles, with strong winds in the forecas ...

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of SSEZY either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. While this article may sound like financial advice, please observe that the author is not a CFA or in any way licensed to give financial advi ...

Edison International (EIX) reported third-quarter 2024 adjusted earnings of $1.51 per share, which surpassed the Zacks Consensus Estimate of $1.39 by 8.6%. The bottom line also increased 9.4% from $1.38 in the yearago quarter. The company incurred GAAP earnings of $1.33 per share compared with earnings of 40 cents per share recorded in the third quarter of 2023. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. EIX's Total Revenues Edison International's third-quarter operating reven ...

Financial Data and Key Metrics Changes - Edison International's core earnings per share (EPS) for Q3 2024 was $1.51, bringing year-to-date core EPS to $3.88, with guidance for 2024 narrowed to $4.80 to $5.00 [6][24][29] - Core earnings grew by $0.13 year-over-year, primarily due to higher CPUC revenue authorized in Track 4 of the 2021 GRC and higher authorized rates of return [24][30] Business Line Data and Key Metrics Changes - Southern California Edison (SCE) has achieved strong regulatory outcomes, recovering about $4.5 billion since 2021, with expectations for an additional $3 billion of incremental cash flow over the coming years [12][26] - SCE's wildfire mitigation plan has resulted in a significant reduction in acres burned from SCE's ignitions in high fire risk areas since 2017, demonstrating effective risk management [17][18] Market Data and Key Metrics Changes - The California regulatory environment has seen changes in the cost of capital mechanism and investor-owned utilities' 2025 return on equity (ROE), which could impact future earnings [14][36] - The company anticipates that total energy bills for customers will decrease by 40% in real terms by 2045, despite expected increases in electric rates due to necessary investments [36][21] Company Strategy and Development Direction - Edison International reaffirmed its commitment to achieving net zero greenhouse gas emissions by 2045, focusing on delivering 100% carbon-free power to customers [19][20] - The company plans to update its capital and financing plans following a final decision in SCE's 2025 GRC, which is expected in the first half of next year [25][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering on 2025 EPS guidance of $5.50 to $5.90 and achieving a 5% to 7% EPS compound annual growth rate (CAGR) through 2028 [33][34] - The management acknowledged the challenges posed by climate change and emphasized the importance of maintaining existing natural gas generation as a backup during the transition to cleaner energy sources [21][59] Other Important Information - SCE is in the final stages of resolving legacy wildfire claims, with a settlement agreement for the TKM application expected to authorize recovery of 60% of costs, or $1.6 billion [9][28] - The company is working on a standalone application for its next-generation enterprise resource planning system, expected to be filed in the next six months [25][58] Q&A Session Summary Question: Thoughts on the general rate case and affordability concerns in California - Management indicated that the rate trajectory for SCE is expected to align with or be below local inflation from 2024 to 2028, emphasizing affordability [36][37] Question: Load growth materializing sooner than expected - Management confirmed that they are prepared to reprioritize capital expenditures in response to load growth and are exploring alternative funding approaches [38][39] Question: TKM settlement and balance sheet flexibility - Management noted that the TKM settlement would provide an annual run rate EPS improvement of $0.14, with potential for reducing equity-like instruments supporting wildfire claims [40][41] Question: Clarity on TKM and Woolsey outcomes - Management stated that the TKM and Woolsey cases are very different, and outcomes cannot be directly compared [64][65] Question: Timing of GRC decision and potential for settlements - Management expressed optimism for a GRC decision in the first half of the year, with the potential for settlements being more complex [50][70]

Start Time: 16:30 January 1, 0000 5:28 PM ET Edison International (NYSE:EIX) Q3 2024 Earnings Conference Call October 29, 2024, 16:30 AM ET Company Participants Pedro Pizarro - President and CEO Maria Rigatti - EVP and CFO Steve Powell - President and CEO, Southern California Edison Sam Ramraj - VP, IR Conference Call Participants Michael Lonegan - Evercore ISI Shar Pourreza - Guggenheim Partners Anthony Crowdell - Mizuho Steven Fleishman - Wolfe Research Ryan Levine - Citi Gregg Orrill - UBS Nicholas Campa ...

THIRD-QUARTER 2024 FINANCIAL RESULTS OCTOBER 29, 2024 Forward-Looking Statements 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 ...

Edison International (EIX) came out with quarterly earnings of $1.51 per share, beating the Zacks Consensus Estimate of $1.39 per share. This compares to earnings of $1.38 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.63%. A quarter ago, it was expected that this electric power provider would post earnings of $1.05 per share when it actually produced earnings of $1.22, delivering a surprise of 16.19%.Over the last four qua ...

Edison International (EIX) Q3 2024 Earnings Call October 29, 2024 04:30 PM ET Company Participants Sam Ramraj - Vice President of Investor RelationsPedro Pizarro - President & Chief Executive OfficerMaria Rigatti - Executive Vice President & Chief Financial OfficerMichael Lonegan - Director - Equity ResearchShahriar Pourreza - Senior Managing Director - Head of Energy/Power/UtilitiesAnthony Crowdell - Managing DirectorBrian Levine - Vice PresidentSteven Powell - President and Chief Executive Officer of Sout ...