Edison International(US:EIX) Jing Ji Guan Cha Wang·2026-02-13 16:58Performance Overview - The company reported a revenue of $5.75 billion for Q3 2025, representing a year-on-year growth of 10.6% and a core earnings per share of $2.34, exceeding market expectations [1] - Management reaffirmed the full-year core earnings per share guidance for 2025 to be between $5.95 and $6.20, with a projected compound annual growth rate of 5%-7% from 2025 to 2028, boosting investor confidence [1] Project Development - The company plans to invest approximately $38-43 billion in capital expenditures from 2025 to 2029, focusing on grid disaster resilience upgrades and clean energy integration [2] - As of Q3 2025, the rate base for its core subsidiary, Southern California Edison, reached $56.5-57.5 billion, laying a foundation for future profit growth [2] Regulatory Environment - California's recent SB254 legislation sets a cap on wildfire liability for utility companies and establishes a securitization mechanism, significantly reducing the contingent liability risk for the company [3] - The approval of 91% of the cost recovery requests in the general rate case for 2025 enhances the certainty of the company's profitability [3] Stock and Financial Performance - The company has increased its dividend for 23 consecutive years, with a dividend yield of approximately 4.73% as of February 13, 2026 [4] - The price-to-earnings ratio stands at about 9.32, which is below the average for the utility sector, attracting investors seeking stable returns and valuation recovery opportunities [4] Industry Conditions - The expansion of AI data centers, the proliferation of electric vehicles, and the development of green manufacturing in California are driving sustained growth in electricity demand, benefiting the company as a major distribution operator [5]