Edison International(EIX)
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Edison International(EIX) - 2020 Q3 - Quarterly Report
2020-10-27 20:08
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, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | --- | --- | --- | |--------------------------|------------------------|--------------------------------------------------------------------| ...
Edison International(EIX) - 2020 Q2 - Earnings Call Transcript
2020-07-28 23:26
Financial Data and Key Metrics Changes - Edison International reported core earnings per share (EPS) of $1 for Q2 2020, a decrease of $0.58 compared to the same period last year, primarily due to higher O&M expenses, equity share dilution, and the true-up for the final 2018 GRC decision recorded in Q2 2019 [9][20] - The company narrowed its 2020 EPS guidance range to $4.37 to $4.62, raising the low end by $0.05 [9][33] Business Line Data and Key Metrics Changes - The decline in EPS was impacted by a negative variance of $0.24 from O&M expenses, which included increased expenses offset by revenue due to balancing account treatment, as well as timing of deferrals related to wildfire mitigation and COVID-19 costs [21][22] - Wildfire-related expenses negatively impacted EPS by $0.06 per share for the quarter, but are expected to be less of a driver of year-over-year variances in the second half of the year [22] Market Data and Key Metrics Changes - The company has secured $1 billion of gross wildfire insurance coverage from July 2020 to June 2021, which is $870 million net of self and co-insurance, optimizing risk mitigation and cost to customers [30] - The regulatory asset related to wildfire mitigation memo accounts is over $1.1 billion, which is significant for maintaining cash flow [46] Company Strategy and Development Direction - Edison International is focused on sustainability and aims to deliver 100% carbon-free power to SCE customers by 2045, with ongoing investments in clean energy and electrification [15][17] - The company is advancing its clean energy strategy, including a significant energy storage procurement of 770 megawatts, one of the largest in the nation [16] Management's Comments on Operating Environment and Future Outlook - Management anticipates another active fire season due to dry conditions in California but believes the company is better prepared than ever for wildfire mitigation [12] - The management expressed confidence in the outlook for the full year, expecting improvements in EPS impact from wildfire-related expenses in the second half [9][20] Other Important Information - The company completed its 2020 financing plan with the direct placement of $800 million of equity, indicating minimal equity needs to fund ongoing capital expenditures beyond 2020 [29] - Edison International filed an application with the CPUC to securitize $337 million of wildfire-related capital expenditures, which can’t be included in the equity portion of SCE's rate base [32] Q&A Session Summary Question: Regarding settlements with plaintiffs from the 2017 and 2018 fires - Management indicated that the small number of settlements reached is not sufficient to materially impact their assessment of liability, and they continue to reassess the situation each quarter [36][37] Question: Clarification on legal and expert costs booked this quarter - The $9 million charge booked was related to accumulating legal and expert costs associated with ongoing litigation activities [38] Question: Expectations on various groups of potential parties for settlement - Management noted that there are multiple tracks for discussions with different classes of plaintiffs, and the timeline for settlements is uncertain due to the nature of negotiations [40][42] Question: Cash flow and rating agency perspectives - Management expressed confidence in maintaining cash flow and staying within targeted rating agency ranges, emphasizing the importance of timely recovery of requested amounts [46][47] Question: Prudency review for the 2017 and 2018 fires - Management clarified that the prudency review process will begin after finalizing litigation outcomes, and they currently do not see any basis for criminal liability [49][50]
Edison International(EIX) - 2020 Q2 - Quarterly Report
2020-07-28 20:12
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, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------|--------------------------------------------- ...
Edison International(EIX) - 2020 Q1 - Quarterly Report
2020-04-30 20:09
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, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | --- | --- | --- | |--------------------------|--------------------------------------------------|--------------------------|-------------------- ...
Edison International(EIX) - 2019 Q4 - Annual Report
2020-02-27 21:13
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | --- | --- | --- | --- | --- | |--------------------------|--------------------------------------------------|--------------------|------------------- ...
Edison International(EIX) - 2019 Q3 - Quarterly Report
2019-10-29 21:12
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, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | --- | --- | --- | |--------------------------|--------------------------------------------------|--------------------------|---------------- ...
Edison International(EIX) - 2019 Q2 - Quarterly Report
2019-07-25 20:12
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, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | --- | --- | |--------------------------|--------------------------------------------------------------------|------------------------------------ ...
Edison International(EIX) - 2019 Q1 - Quarterly Report
2019-04-30 20:13
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Commission File Number Exact Name of Registrant as specified in its charter State or Other Jurisdiction of Incorporation or Organization IRS Employer Identification Number 1-9936 EDISON INTERNATIONAL California 95-4137452 1-2313 SOUTHERN CALIFORNIA EDISON COMPANY California 95-1240335 FORM 10-Q (Mark One) þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 20 ...
Edison International(EIX) - 2018 Q4 - Annual Report
2019-02-28 21:12
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | --- | --- | |--------------------------|------------------------------------------------------------------------------------------------------------| ...