Edison International Q1 Earnings Beat Estimates, Revenues Miss

Core Viewpoint - Edison International (EIX) reported strong first-quarter 2025 adjusted earnings of $1.37 per share, exceeding expectations and showing significant year-over-year growth [1][2] Financial Performance - Adjusted earnings per share of $1.37 surpassed the Zacks Consensus Estimate of $1.21 by 13.2% and increased 21.2% from $1.13 in the same quarter last year [1] - GAAP earnings were reported at $3.73 per share, a recovery from a GAAP loss of 3 cents per share in Q1 2024 [1] - Total operating revenues for Q1 2025 were $3.81 billion, missing the Zacks Consensus Estimate of $4.14 billion by 7.8% and down 6.5% from $4.08 billion in the prior year [3] Operational Highlights - Total operating expenses decreased significantly by 56.2% year over year to $1.68 billion [4] - Purchased power and fuel costs rose by 3.9%, while depreciation and amortization expenses increased by 5.7% [4] - Operating income for Q1 2025 was $2.13 billion, a substantial increase from $0.25 billion in the previous year [5] Segment Results - Southern California Edison reported adjusted earnings of $1.61 per share, up from $1.33 in the year-ago quarter, benefiting from interest expense related to cost recoveries [6] - The Edison International Parent and Other segment incurred an adjusted loss of 24 cents per share [6] Financial Update - As of March 31, 2025, cash and cash equivalents were $1.32 billion, a significant increase from $0.19 billion at the end of 2024 [7] - Long-term debt rose to $35.39 billion from $33.53 billion at the end of 2024 [7] - Net cash flow from operating activities was $1.22 billion, compared to $1.04 billion in the prior-year period [7] Capital Expenditures - Total capital expenditures for Q1 2025 were $1.41 billion, up from $1.28 billion in the same period last year [8] Guidance - The company reiterated its 2025 earnings outlook, expecting earnings in the range of $5.94 to $6.34 per share, with the Zacks Consensus Estimate currently at $6.02 per share [9][10] Zacks Rank - Edison International currently holds a Zacks Rank 2 (Buy) [11]