Edison International(US:EIX)2024-02-22 21:43Financial Performance & Guidance - Edison International (EIX) reported 2023 Core EPS of $4.76, exceeding the midpoint of the initial guidance range [40, 46] - EIX introduced 2024 Core EPS guidance of $4.75–5.05 [51, 156] - EIX reaffirms 5–7% Core EPS CAGR for 2021–2025, targeting 2025 Core EPS of $5.50–5.90 [28, 55, 158] - EIX expects 5–7% Core EPS growth for 2025–2028 [106] - The company's capital program is estimated at $38–43 billion for 2023–2028 [28, 71] Rate Base & Capital Expenditures - Projected rate base growth of approximately 6–8% from 2023–2028 [27, 155] - The company's rate base was $43 billion in 2024, $48.1 billion in 2025, and $50.4 billion in 2026 [75] - The company anticipates capital expenditures of $6 billion in 2024 [51] Wildfire Mitigation & Claims - SCE has reduced the probability of losses from catastrophic wildfires by 85–88% compared to pre-2018 levels [31, 58, 61] - SCE has installed over 5,580 miles of covered conductor [42, 49] - The company is requesting recovery of $2.4 billion of costs related to the Thomas Fire and Montecito Mudslides, plus $65 million in restoration costs [8] - The company is targeting a Woolsey cost recovery application in Q3 2024, seeking ~$6.4 billion in cost recovery [33, 50, 130] Regulatory Proceedings - A proposed decision approving ~$310 million revenue requirement is scheduled to be voted on [20] - The company is requesting approval of ~$327 million of revenue requirement for incremental 2021 wildfire mitigation [21] - The company is requesting approval of ~$384 million of revenue requirement for incremental 2022 wildfire mitigation [23] Dividends - EIX has increased its dividend for 20 consecutive years [3, 59] - The current dividend yield is approximately 4% [4]