Financial Data and Key Metrics Changes - Edison International reported core earnings per share (EPS) of $1.37 for Q1 2025, an increase from $1.13 in the same period last year [5][19] - The year-over-year comparison is noted as not particularly meaningful due to the lack of a decision in the 2025 general rate case [6][19] - The company remains confident in meeting its 2025 EPS guidance and delivering a 5% to 7% core EPS compound annual growth rate (CAGR) through 2028 [6][25] Business Line Data and Key Metrics Changes - SCE's first quarter EPS includes approximately $0.30 associated with the TKM settlement approval, partially offset by higher interest expenses at EIX Parent and Other [20] - The utility's full general rate case request includes about $1.4 billion of annual capital spending on wildfire mitigation and hardening an additional 1,800 miles of overhead distribution infrastructure [14] Market Data and Key Metrics Changes - SCE's proposed schedule for the cost of capital application includes a return on equity (ROE) request of 11.75%, with a proposed decision expected in November [21] - The utility plans to file an application for its advanced metering infrastructure program to replace its smart meter fleet, addressing technology obsolescence [24] Company Strategy and Development Direction - The company is focused on rebuilding wildfire-impacted areas and enhancing the resilience of its electrical distribution infrastructure [6][7] - Edison International is engaging with legislators to support community safety and enhance California's regulatory framework [11] - The company is optimistic about the regulatory environment, as indicated by the CPUC's approval of the TKM settlement agreement [12] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the ongoing investigation into the Eaton fire and the potential for material losses, emphasizing transparency throughout the process [8][10] - The company is confident in its ability to manage liabilities through the wildfire fund and believes it can demonstrate prudency in its operations [66][83] - Management expresses optimism regarding the legislative discussions around wildfire legislation and the need for action [42][91] Other Important Information - The company has launched a new webpage to address misinformation regarding the Eaton fire [9] - Recent leadership changes include the retirement of board member Vanessa Chang and the appointment of Shonda Nwamu as the new General Counsel [15][16] Q&A Session Summary Question: What drove the new material loss disclosure? - Management indicated that the ongoing investigation and the absence of evidence pointing to another source of ignition warranted the disclosure of probable losses [32][66] Question: How will potential liabilities from the Eaton fire impact financing plans? - Management explained that the wildfire fund would be accessed to cover claims, reducing the need for debt issuance compared to previous incidents [36][38] Question: What is the status of wildfire legislation in California? - Management expressed confidence in the engagement of the governor's office and legislative leaders, noting the complexity of the issue [41][42] Question: How does the Moody's risk management model reflect wildfire risk? - Management clarified that the model incorporates various risk areas and that grid hardening efforts have contributed to risk reduction [44][46] Question: What are the considerations for accessing the wildfire fund? - Management stated that the process for accessing the fund is streamlined, with initial claims covered by customer-funded self-insurance before tapping into the fund [108] Question: Are there any updates on the investigation into the Eaton fire? - Management confirmed that no estimates could be provided regarding the investigation timeline, emphasizing the complexity of the situation [76][78] Question: Will the nature of lawsuits affect recovery from the wildfire fund? - Management assured that the wildfire fund is available for damage claims, and there are no limitations on the types of claims that can be paid [83]

Edison International (NYSE:EIX) Q1 2025 Earnings Conference Call April 29, 2025 4:30 PM ET Company Participants Sam Ramraj - VP, IR Pedro Pizarro - President, CEO & Director Maria Rigatti - EVP & CFO Steve Powell - President, CEO & Director, Southern California Edison Conference Call Participants Nick Campanella - Barclays Michael Lonegan - Evercore Carly Davenport - Goldman Sachs Paul Zimbardo - Jefferies Richard Sunderland - JPMorgan Gregg Orrill - UBS Anthony Crowdell - Mizuho David Arcaro - Morgan Stanl ...

Edison International (EIX) came out with quarterly earnings of $1.37 per share, beating the Zacks Consensus Estimate of $1.21 per share. This compares to earnings of $1.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 13.22%. A quarter ago, it was expected that this electric power provider would post earnings of $1.08 per share when it actually produced earnings of $1.05, delivering a surprise of -2.78%.Over the last four qu ...

Financial Data and Key Metrics Changes - Edison International reported core earnings per share (EPS) of $1.37 for Q1 2025, an increase from $1.13 in the same period last year [5][19] - The year-over-year comparison is noted as not particularly meaningful due to the lack of a decision in the 2025 general rate case [6][19] - The company remains confident in meeting its 2025 EPS guidance and achieving a core EPS compound annual growth rate (CAGR) of 5% to 7% through 2028 [6][25] Business Line Data and Key Metrics Changes - SCE's first quarter EPS includes approximately $0.30 associated with the TKM settlement approval, offset by higher interest expenses at EIX Parent and Other [20] - The utility's full general rate case (GRC) request includes about $1.4 billion of annual capital spending on wildfire mitigation and hardening an additional 1,800 miles of overhead distribution infrastructure [14] Market Data and Key Metrics Changes - The company is actively engaging with legislators and the governor's office to enhance California's regulatory framework regarding wildfire safety [11] - SCE's proposed cost of capital application includes a request for a return on equity (ROE) of 11.75%, with a proposed decision expected in November [21] Company Strategy and Development Direction - The company is focused on rebuilding wildfire-impacted areas and enhancing the resilience of its electrical distribution infrastructure [7] - SCE plans to submit its 2026 wildfire mitigation plan in May, reflecting priorities in risk mitigation, public safety, and affordability [14] - The utility is committed to executing an integrated wildfire mitigation strategy, prioritizing grid hardening, asset inspections, and vegetation management [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the regulatory environment and the importance of addressing wildfire risks to restore stakeholder confidence [11] - The company is optimistic about the proposed decision timeline for the GRC and the potential for a constructive regulatory environment [13] Other Important Information - The company has launched a new webpage to address misinformation regarding the Ethan fire and its operations [9] - Significant media coverage has been noted regarding the Ethan fire, with management emphasizing transparency throughout the ongoing investigation [8] Q&A Session Summary Question: What drove the new material loss disclosure? - Management indicated that the ongoing investigation and the lack of evidence pointing to another source of ignition warranted the disclosure of probable losses [32] Question: How will potential liabilities from the Eaton fire impact financing plans? - Management explained that the wildfire fund would be accessed to cover claims, reducing the need for debt issuance compared to previous incidents [36][38] Question: What is the status of wildfire legislation in California? - Management expressed confidence in legislative engagement but noted that discussions are still in early stages [41][42] Question: How does the Moody's risk management model reflect wildfire risk? - Management confirmed that grid hardening efforts have significantly reduced the probability of catastrophic wildfires, but ongoing evaluations will continue [44][46] Question: What are the considerations for accessing the wildfire fund? - Management clarified that the process for accessing the fund is streamlined, with initial claims covered by customer-funded self-insurance before tapping into the fund [110] Question: Are there any updates on the investigation into the Eaton fire? - Management stated that no estimates could be provided regarding the investigation timeline, and they are still assessing potential ignition sources [76][78]

Financial Performance - Edison International reported a significant increase in revenue, with a year-over-year growth of 12% for the three months ended March 31, 2025, compared to the same period in 2024[6]. - Edison International's net income for Q1 2025 was $1,436 million, an increase of $1,447 million compared to a net loss of $11 million in Q1 2024[18]. - SCE's core earnings increased by $107 million to $620 million in Q1 2025, up from $513 million in Q1 2024[21]. - Net income for the three months ended March 31, 2025, was $1,601 million, an increase of $1,495 million compared to $106 million in the same period of 2024[57]. - Operating income for Q1 2025 was $2,198 million, a significant increase from $261 million in Q1 2024[125]. - Basic earnings per share for common shareholders increased to $3.73 in Q1 2025 from a loss of $0.03 in Q1 2024[112]. Capital Expenditures and Investments - The company highlighted a total capital investment plan of $1.6 billion aimed at wildfire risk mitigation, which is excluded from the equity portion of SCE's rate base as per AB 1054[9]. - Edison International is focusing on enhancing its grid infrastructure to meet electrification needs, with planned investments of $2 billion over the next three years[11]. - The company anticipates total capital expenditures of $26.6 billion to $31.5 billion from 2025 to 2028[31]. - Total capital expenditures for Q1 2025 were $1.5 billion, compared to $1.2 billion in Q1 2024, reflecting a significant increase in investment[30]. - Capital expenditures for Q1 2025 were $1,407 million, up from $1,278 million in Q1 2024, indicating ongoing investment in infrastructure[134]. Regulatory and Compliance - The company is actively pursuing regulatory approvals for its Wildfire Mitigation Plan (WMP), which is critical for maintaining operational safety and compliance[11]. - SCE's requested revenue requirement for the 2025 General Rate Case (GRC) is approximately $10.4 billion, representing a 23% increase from the 2024 requirement of $8.4 billion[25]. - The 2025 CPUC-authorized return on equity (ROE) is set at 10.33%, with a weighted average return on rate base of 7.66%[28]. - SCE filed a WMCE Filing seeking to recover $320 million in operating expenses and $702 million in capital expenditures[76]. - SCE filed its 2025 annual transmission revenue requirement update with the FERC, reflecting a 2025 transmission revenue requirement of $1.3 billion, a $220 million, or 20%, increase from the 2024 requirement[155]. Wildfire Mitigation Efforts - SCE's ongoing wildfire mitigation efforts include the implementation of a Wildfire Mitigation Plan (WMP) and Public Safety Power Shutoff (PSPS) programs to reduce wildfire risks[33]. - The Eaton Fire in January 2025 resulted in significant damage, with estimated suppression costs of approximately $100 million and ongoing investigations into its cause[35]. - SCE recorded estimated losses of $9.9 billion related to the 2017/2018 Wildfire/Mudslide Events, with recoveries from insurance totaling $2.0 billion[46]. - As of March 31, 2025, SCE had paid $9.6 billion under executed settlements related to the 2017/2018 Wildfire/Mudslide Events, with an additional $71 million to be paid[47]. - For the Other Wildfire Events, SCE recorded total estimated losses of $1.2 billion, with expected recoveries from insurance and third parties of $800 million[50]. Liquidity and Financial Position - Edison International's liquidity position remains strong, with available liquidity reported at $1.2 billion, ensuring sufficient funds for ongoing operations and capital projects[10]. - At March 31, 2025, SCE had cash on hand of $1.1 billion and approximately $3.3 billion available to borrow on its revolving credit facility[73]. - SCE's debt to total capitalization ratio was 0.58 to 1 as of March 31, 2025, in compliance with financial covenants[74]. - Edison International Parent's consolidated debt to total capitalization ratio was 0.65 to 1 as of March 31, 2025[88]. - SCE expects to finance the recorded recoveries through the issuance of securitized bonds in the second quarter of 2025[44]. Environmental and Sustainability Initiatives - The company is committed to reducing greenhouse gas emissions and is implementing new technologies to support its sustainability goals[11]. - SCE's contracted capacity from VIE projects was 5,300 MW as of March 31, 2025, up from 4,642 MW in 2024, indicating a growth of approximately 14.2%[168]. - SCE generated investment tax credits of approximately $231 million in 2024 related to utility-owned storage projects[91]. Tax and Accounting - An increase in income tax expense of $572 million primarily due to a $580 million higher tax expense on increased pre-tax income[67]. - The effective tax rate for Edison International for the three months ended March 31, 2025, was 23.1%, compared to 185.2% in 2024[197]. - The new accounting guidance issued by FASB in December 2023 will require additional disclosures related to income tax rate reconciliation, effective for annual periods after January 1, 2025[157]. - The company does not expect the adoption of the new accounting standard to materially affect annual disclosures[157]. Shareholder Returns - Common stock dividends declared for the three months ended March 31, 2025, amounted to $319 million, with a per share dividend of $0.8275[159]. - The company repurchased common stock worth $29 million during the first quarter of 2025[159].

[First Quarter 2025 Results Overview](index=1&type=section&id=First%20Quarter%202025%20Results%20Overview) This section overviews Edison International's Q1 2025 financial results, CEO commentary, and key regulatory progress [Financial Highlights](index=1&type=section&id=1.1%20Financial%20Highlights) Edison International reported a significant increase in Q1 2025 net income and core earnings per share compared to the prior year, primarily driven by cost recoveries for Southern California Edison Financial Highlights Summary | Metric | Q1 2025 | Q1 2024 | Change | | :-------------------------------- | :------ | :------ | :----- | | GAAP Net Income (millions) | $1,436 | $(11) | +$1,447 | | GAAP EPS | $3.73 | $(0.03) | +$3.76 | | Core Earnings (millions) | $528 | $438 | +$90 | | Core EPS | $1.37 | $1.13 | +$0.24 | - Southern California Edison's (SCE) Q1 2025 core EPS increased year over year, primarily due to a benefit to interest expense related to cost recoveries authorized under the TKM Settlement Agreement[3](index=3&type=chunk) - Edison International Parent and Other's Q1 2025 core loss per share increased year over year, primarily due to higher interest expense[3](index=3&type=chunk) [CEO Commentary](index=1&type=section&id=1.2%20CEO%20Commentary) CEO Pedro J. Pizarro highlighted ongoing engagement with stakeholders to enhance California's AB 1054 regulatory framework and support community safety, emphasizing the role of investor-owned utilities in the state's growth - Continued engagement with key stakeholders to find solutions to support community safety and enhance California's industry-leading AB 1054 regulatory framework[4](index=4&type=chunk) - Working closely with state and county leaders and the communities of Altadena and Malibu to rebuild wildfire-impacted areas stronger than ever[4](index=4&type=chunk) - SCE's grid hardening in these areas will increase reliability and reduce the exposure of electrical distribution infrastructure to high wind and other extreme weather events[4](index=4&type=chunk) [Key Developments & Regulatory Progress](index=1&type=section&id=1.3%20Key%20Developments%20%26%20Regulatory%20Progress) The company reported continued investigation into the Eaton Fire, strong regulatory progress including the approval of the TKM settlement, and the filing of 2026 Cost of Capital and NextGen ERP applications, alongside a settlement in the WMCE proceeding - Eaton Fire investigation continues; working closely with state and county leaders and communities to rebuild wildfire-impacted areas[5](index=5&type=chunk) - Strong regulatory progress: TKM settlement approved; filed 2026 Cost of Capital and NextGen ERP applications; reached settlement in WMCE proceeding[5](index=5&type=chunk) [2025 Earnings Guidance](index=3&type=section&id=2025%20Earnings%20Guidance) Edison International affirmed its 2025 core EPS guidance range of $5.94-$6.34 and expressed confidence in delivering 5-7% core EPS growth from 2025 to 2028, projecting $6.74-$7.14 2025 Earnings Guidance Summary | Metric | As of Feb. 27, 2025 (Low-High) | As of April 29, 2025 (Low-High) | | :---------------- | :----------------------------- | :------------------------------ | | EIX Basic EPS | $5.94 - $6.34 | $8.30 - $8.70 | | Less: Non-Core Items | — | $2.36 | | EIX Core EPS | $5.94 - $6.34 | $5.94 - $6.34 | - Affirmed **2025 Core EPS guidance of $5.94-$6.34**[5](index=5&type=chunk)[6](index=6&type=chunk)[7](index=7&type=chunk) - Continued confidence in delivering **5-7% Core EPS growth from 2025 to 2028 ($6.74-$7.14)**[5](index=5&type=chunk) [Company Information](index=3&type=section&id=Company%20Information) This section outlines Edison International's business operations and investor relations details, including the earnings call [About Edison International](index=4&type=section&id=3.1%20About%20Edison%20International) Edison International is a major electric utility holding company providing clean and reliable energy, operating Southern California Edison (delivering electricity to 15 million people) and Trio (formerly Edison Energy), which offers non-regulated sustainability and energy advisory services in North America and Europe - Edison International (NYSE: EIX) is one of the nation's largest electric utility holding companies, focused on providing clean and reliable energy and energy services[9](index=9&type=chunk) - Parent company of Southern California Edison Company, a utility delivering electricity to **15 million people** across Southern, Central and Coastal California[9](index=9&type=chunk) - Also the parent company of Trio (formerly Edison Energy), a portfolio of nonregulated competitive businesses providing integrated sustainability and energy advisory services to large commercial, industrial and institutional organizations in North America and Europe[9](index=9&type=chunk) [Investor Relations & Conference Call Details](index=3&type=section&id=3.2%20Investor%20Relations%20%26%20Conference%20Call%20Details) The report provides details for the first-quarter 2025 earnings conference call and webcast, including access information and the availability of related materials on the company's investor relations website - First-Quarter 2025 Earnings Conference Call and Webcast Details: Tuesday, April 29, 1:30-2:30 p.m. (PDT)[8](index=8&type=chunk) - Telephone replay available through May 13 at 6 p.m. (PDT)[8](index=8&type=chunk) - Webcast and related materials (prepared remarks, presentation, Form 10-Q) available at www.edisoninvestor.com[8](index=8&type=chunk) [Appendix](index=6&type=section&id=Appendix) The appendix covers non-GAAP financial measures, risk factors, financial reconciliations, and consolidated financial statements [Use of Non-GAAP Financial Measures](index=6&type=section&id=4.1%20Use%20of%20Non-GAAP%20Financial%20Measures) Edison International uses "core earnings" and "core EPS" as non-GAAP financial measures for internal planning, performance analysis, and communication with investors, defining them as basic earnings/EPS excluding discontinued operations and significant discrete items not representative of ongoing earnings - Core earnings and core EPS are non-GAAP financial measures used internally for financial planning and performance analysis, and externally for investor communication to facilitate period-to-period comparisons[11](index=11&type=chunk) - Defined as basic earnings and basic EPS excluding income or loss from discontinued operations and income or loss from significant discrete items that management does not consider representative of ongoing earnings[12](index=12&type=chunk) [Safe Harbor Statement & Risk Factors](index=6&type=section&id=4.2%20Safe%20Harbor%20Statement%20%26%20Risk%20Factors) This section outlines forward-looking statements and key risk factors, including cost recovery, operational, regulatory, and environmental challenges - Statements about future performance are forward-looking and involve risks and uncertainties that could cause actual results to differ materially from current expectations[13](index=13&type=chunk) - Important factors that could cause different results include, but are not limited to: SCE's ability to recover costs (including wildfire-related) through regulated rates, cybersecurity risks, operational and maintenance risks of electrical facilities (including wildfires), impact of customer rate affordability, ability to update grid infrastructure, implementation of operational and strategic plans (e.g., Wildfire Mitigation Plan), regulatory or legislative restrictions on wildfire mitigation, effectiveness of AB 1054, workforce management, decisions by regulatory bodies, governmental changes, potential penalties, extreme weather events, San Onofre decommissioning, cost allocation risks, and credit rating actions[13](index=13&type=chunk)[15](index=15&type=chunk) [Financial Reconciliations](index=8&type=section&id=4.3%20Financial%20Reconciliations) This section provides detailed reconciliations of basic to core EPS and earnings for Edison International and its segments [Reconciliation of Basic EPS to Core EPS](index=8&type=section&id=4.3.1%20Reconciliation%20of%20Basic%20EPS%20to%20Core%20EPS) The reconciliation shows how basic EPS is adjusted for non-core items to arrive at core EPS for both Edison International and its segments (SCE, Parent and Other), demonstrating a significant positive change in core EPS year-over-year Reconciliation of Basic EPS to Core EPS | Earnings (loss) per share available to Edison International | March 31, 2025 | March 31, 2024 | Change | | :-------------------------------------------------------- | :------------- | :------------- | :----- | | SCE Basic EPS | $4.07 | $0.17 | $3.90 | | Edison International Parent and Other Basic EPS | $(0.34) | $(0.20) | $(0.14) | | Edison International Basic EPS | $3.73 | $(0.03) | $3.76 | | Less: Total non-core items | $2.36 | $(1.16) | $3.52 | | SCE Core EPS | $1.61 | $1.33 | $0.28 | | Edison International Parent and Other Core EPS | $(0.24) | $(0.20) | $(0.04) | | Edison International Core EPS | $1.37 | $1.13 | $0.24 | [Reconciliation of Basic Earnings to Core Earnings](index=8&type=section&id=4.3.2%20Reconciliation%20of%20Basic%20Earnings%20to%20Core%20Earnings) This reconciliation details the specific non-core items, such as TKM Settlement Agreement related earnings, wildfire claims, and Wildfire Insurance Fund expenses, that are adjusted from net income to derive core earnings for Edison International and its segments Reconciliation of Basic Earnings to Core Earnings (in millions) | Metric | March 31, 2025 | March 31, 2024 | Change | | :------------------------------------------ | :------------- | :------------- | :----- | | Net income (loss) available to Edison International | $1,436 | $(11) | $1,447 | | Less: Total non-core items | $908 | $(449) | $1,357 | | Core earnings (losses) | $528 | $438 | $90 | - Non-core items for SCE in Q1 2025 included **$1,341 million in claim costs** and **$59 million in legal expenses** related to the TKM Settlement Agreement, partially offset by shareholder-funded wildfire mitigation and asset impairment[19](index=19&type=chunk) - Non-core items also included **$12 million in net earnings** from insurance reimbursements for previous years' costs in Q1 2025, compared to **$119 million in charges** for wildfire claims in Q1 2024[19](index=19&type=chunk) [Condensed Consolidated Financial Statements](index=10&type=section&id=4.4%20Condensed%20Consolidated%20Financial%20Statements) This section presents Edison International's condensed consolidated statements of income, balance sheets, and cash flows [Condensed Consolidated Statements of Income](index=10&type=section&id=4.4.1%20Condensed%20Consolidated%20Statements%20of%20Income) Edison International reported a significant increase in operating income and net income for Q1 2025 compared to Q1 2024, primarily due to a substantial reduction in wildfire-related claims, net of recoveries Condensed Consolidated Statements of Income (in millions, except per-share amounts) | Metric | 2025 | 2024 | | :-------------------------------------- | :--- | :--- | | Operating revenue | $3,811 | $4,078 | | Total operating expenses | $1,677 | $3,833 | | Operating income | $2,134 | $245 | | Net income | $1,492 | $52 | | Net income (loss) attributable to Edison International common shareholders | $1,436 | $(11) | | Basic earnings (loss) per common share | $3.73 | $(0.03) | - Wildfire-related claims, net of (recoveries) significantly decreased from **$615 million in Q1 2024** to **$(1,305) million in Q1 2025**[21](index=21&type=chunk) - Interest expense decreased from **$(444) million in Q1 2024** to **$(301) million in Q1 2025**[21](index=21&type=chunk) [Condensed Consolidated Balance Sheets](index=11&type=section&id=4.4.2%20Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2025, Edison International's total assets increased to $88,420 million from $85,579 million at December 31, 2024, driven by increases in cash and cash equivalents, utility property, plant and equipment, and regulatory assets Condensed Consolidated Balance Sheets (in millions) | Metric | March 31, 2025 | December 31, 2024 | Change | | :------------------------------------------ | :------------- | :---------------- | :----- | | Total assets | $88,420 | $85,579 | +$2,841 | | Total liabilities | $69,623 | $67,839 | +$1,784 | | Total equity | $18,797 | $17,740 | +$1,057 | | Cash and cash equivalents | $1,318 | $193 | +$1,125 | | Short-term debt | $5 | $998 | -$993 | | Long-term debt | $35,387 | $33,534 | +$1,853 | - Long-term regulatory assets increased from **$8,886 million at December 31, 2024**, to **$10,548 million at March 31, 2025**[22](index=22&type=chunk) - Utility property, plant and equipment, net, increased from **$59,047 million at December 31, 2024**, to **$59,950 million at March 31, 2025**[22](index=22&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=14&type=section&id=4.4.3%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the three months ended March 31, 2025, Edison International reported increased net cash provided by operating activities and financing activities, while net cash used in investing activities remained substantial, leading to a significant net increase in cash and cash equivalents Condensed Consolidated Statements of Cash Flows (in millions) | Metric | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | Change | | :------------------------------------------ | :-------------------------------- | :-------------------------------- | :----- | | Net cash provided by operating activities | $1,224 | $1,043 | +$181 | | Net cash provided by financing activities | $1,374 | $988 | +$386 | | Net cash used in investing activities | $(1,374) | $(1,276) | -$(98) | | Net increase in cash, cash equivalents and restricted cash | $1,224 | $755 | +$469 | - Long-term debt issued, net of discount and issuance costs, increased to **$3,501 million in Q1 2025** from **$2,976 million in Q1 2024**[25](index=25&type=chunk) - Commercial paper repayments, net of borrowing, significantly increased to **$(1,687) million in Q1 2025** from **$(622) million in Q1 2024**[25](index=25&type=chunk)

Core Viewpoint - U.S. stock markets are experiencing high volatility due to tariffs imposed by the Trump administration, leading to significant price drops in several stocks, making them attractive investment opportunities in the short term [1]. Group 1: Recommended Stocks - Affirm Holdings Inc. (AFRM), Marvell Technology Inc. (MRVL), Super Micro Computer Inc. (SMCI), QUALCOMM Inc. (QCOM), and Edison International (EIX) are identified as stocks with strong revenue and earnings potential for 2025, supported by positive earnings estimate revisions in the last 60 days [2]. Group 2: Affirm Holdings Inc. (AFRM) - Affirm Holdings has diverse income streams, expecting revenues between $3.13 billion and $3.19 billion in fiscal 2025, driven by growing active merchant numbers and improving gross merchandise value [3][4]. - Key partnerships, including those with Apple Pay and Hotels.com, are crucial for AFRM's expansion, which has also entered the UK market [4]. - AFRM has an expected revenue growth rate of 37.1% and earnings growth rate of 96.4% for the current year, with a Zacks Consensus Estimate for earnings improving by 53.8% in the last 30 days [5]. - The stock is trading at a 40.5% discount from its 52-week high, with a potential upside of 75.2% based on brokerage target prices [6]. Group 3: Marvell Technology Inc. (MRVL) - Marvell Technology is experiencing strong demand in the data center market, with revenues increasing by 98% year-over-year, driven by AI-related products [7][9]. - MRVL has an expected revenue growth rate of 43.8% and earnings growth rate of 75.8% for the current year, with a slight improvement in earnings estimates [11]. - The stock is trading at a 53.7% discount from its 52-week high, with a potential upside of 219.1% based on brokerage target prices [12]. Group 4: Super Micro Computer Inc. (SMCI) - Super Micro Computer manufactures IT solutions for AI, Cloud, and 5G technologies, with its products gaining traction in the market [13][14]. - SMCI has an expected revenue growth rate of 59.2% and earnings growth rate of 14% for the current year [16]. - The stock is trading at a 64% discount from its 52-week high, with a potential upside of 174.2% based on brokerage target prices [18]. Group 5: QUALCOMM Inc. (QCOM) - QUALCOMM is transitioning to a connected processor firm, benefiting from 5G technology and strategic collaborations, including one with Google for AI solutions [19][20]. - The company has an expected revenue growth rate of 11.9% and earnings growth rate of 16% for the current year, with a slight improvement in earnings estimates [22]. - The stock is trading at a 35.6% discount from its 52-week high, with a potential upside of 68.3% based on brokerage target prices [24]. Group 6: Edison International (EIX) - Edison International plans to invest $26.6 billion to $31.5 billion from 2025 to 2028 to enhance its infrastructure and expand its renewable energy portfolio [25]. - The company has an expected revenue growth rate of 2.8% and earnings growth rate of 19.7% for the current year, with a slight improvement in earnings estimates [28]. - The stock is trading at a 34.6% discount from its 52-week high, with a potential upside of 48.3% based on brokerage target prices [30].

Group 1 - Alpha Gen Capital is a financial advisory firm that focuses on providing safer income streams through closed-end funds (CEFs) and mutual funds [1][2] - The firm has been active in the investment writing space for a decade, aiming to assist investors in constructing their portfolios effectively [1] - Alpha Gen Capital leads the Investing Group Yield Hunting: Alt Inc Opps, which emphasizes generating yield from bonds to complement dividend portfolios [2] Group 2 - The service provided by Alpha Gen Capital is tailored for income investors seeking yield with lower risk compared to the equity market [2] - The firm offers four actively managed portfolios to cater to the needs of its clients [2]

Core Insights - The article emphasizes the importance of value investing and highlights specific companies that exhibit strong value characteristics, particularly Empresa Distribuidora Y Comercializadora Norte S.A. Edenor (EDN) and Edison International (EIX) [1][2][9] Company Analysis: Empresa Distribuidora Y Comercializadora Norte S.A. Edenor (EDN) - EDN has a Zacks Rank of 2 (Buy) and an A grade for Value, indicating strong potential for value investors [4][9] - The company's price-to-book (P/B) ratio is 0.90, significantly lower than the industry average of 2.27, suggesting it may be undervalued [5] - EDN's price-to-cash flow (P/CF) ratio is 3.14, compared to the industry's average of 10.53, further indicating potential undervaluation [6] Company Analysis: Edison International (EIX) - EIX also holds a Zacks Rank of 2 (Buy) with a Value Score of A, making it an attractive option for value investors [7][9] - The forward earnings multiple for EIX is 9.74, which is lower than the industry average P/E of 14.31, suggesting it may be undervalued [7] - EIX's P/B ratio stands at 1.38, again below the industry average of 2.27, reinforcing its value proposition [8]

Core Viewpoint - Edison International (EIX) is expected to report a year-over-year increase in earnings and revenues for the quarter ended March 2025, with a consensus outlook indicating potential stock price movements based on actual results compared to estimates [1][2]. Earnings Expectations - The upcoming earnings report is anticipated to be released on April 29, 2025, with expected earnings of $1.37 per share, reflecting a +21.2% year-over-year change, and revenues projected at $4.15 billion, up 1.8% from the previous year [3][2]. Estimate Revisions - The consensus EPS estimate has been revised down by 7.56% over the last 30 days, indicating a bearish sentiment among analysts regarding the company's earnings prospects [4][10]. Earnings Surprise Prediction - The Zacks Earnings ESP model shows an Earnings ESP of -15.12% for Edison International, suggesting that the Most Accurate Estimate is lower than the consensus estimate, complicating predictions of an earnings beat [11][10]. Historical Performance - In the last reported quarter, Edison International had an expected EPS of $1.08 but delivered $1.05, resulting in a surprise of -2.78%. Over the last four quarters, the company has beaten consensus EPS estimates three times [12][13]. Industry Comparison - Portland General Electric (POR), another player in the electric power industry, is expected to report an EPS of $1.06 for the same quarter, indicating a -12.4% year-over-year change, with revenues projected at $947.86 million, up 2% [17][18].