Southern California Edison, a unit of utility firm Edison International, on Monday was sued on claims that its electrical equipment started one of the major wildfires raging in the Los Angeles area, according to court filings.At least 24 people have died in the fires that began last Tuesday, and more than 150,000 residents have been forced to flee their homes. More than two dozen people are reported missing, authorities said.The lawsuit, filed in a Los Angeles Superior Court, is on behalf of a group of home ...

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Company Impact - Shares of Edison International (EIX) plunged nearly 13% on Wednesday, leading S&P 500 decliners [2] - The company's shares have fallen into negative territory over the past year due to Wednesday's sharp declines [2] - Edison International's subsidiary, Southern California Edison, was forced to shut off power to nearly 70,000 customers due to wildfires [1][3] Operational Challenges - Southern California Edison reported 107 power outages affecting 69,601 customers [1][3] - This marks the third time in as many months that strong Santa Ana winds have prompted power cuts by Southern California Edison [2] Environmental and Social Impact - At least two people have died due to the Los Angeles-area wildfires [1][3] - Tens of thousands of residents have had to evacuate because of the blazes [3] - The Los Angeles Fire Department warned that extreme winds associated with the Palisades Fire are forecasted to continue [1]

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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For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.It also includes access to the Zacks Style Scores. What are the Zacks Style Scores? Develop ...

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 ...

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 ...