Edison International (EIX) Q2 Earnings Rise Y/Y, Revenues Beat

Financial Performance - Edison International reported GAAP earnings of $1.14 per share, an increase from 92 cents per share in Q2 2023 [1] - The company's second-quarter operating revenues reached $4.34 billion, exceeding the Zacks Consensus Estimate of $4.03 billion by 7.5% and up 9.4% from $3.96 billion in the same quarter last year [2] - Total operating expenses rose by 6% year over year to $3.44 billion [3] - Operating income for the second quarter was $900 million, compared to $724 million in the prior-year period [4] - Edison International's adjusted earnings for Q2 2024 were $1.23 per share, a 21.8% increase from $1.01 in the year-ago quarter, surpassing the Zacks Consensus Estimate of $1.05 [10] Debt and Cash Position - As of June 30, 2024, long-term debt stood at $33.10 billion, up from $30.32 billion at the end of 2023 [6] - Cash and cash equivalents amounted to $465 million, an increase from $345 million as of December 31, 2023 [13] Capital Expenditures and Guidance - Total capital expenditures were reported at $2.70 billion, slightly down from $2.71 billion in the previous year [14] - The company reaffirmed its 2024 guidance, expecting adjusted earnings in the range of $4.75-$5.05 per share [22] Operational Highlights - Operation and maintenance (O&M) costs increased by 3.5% in Q2 2024, while property and other taxes rose by 3.4% [11] - Southern California Edison reported adjusted earnings of $1.45 per share, up from $1.23 in the year-ago quarter, attributed to higher revenues authorized in the 2021 General Rate Case [12]