Edison International Earnings Call Transcripts
Fiscal Year 2026
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Core EPS for Q1 2026 was $1.42, with 2026 EPS guidance and long-term growth targets reaffirmed. Grid hardening and wildfire mitigation are nearly complete, while legislative and regulatory clarity support strong capital planning and no new equity needs through 2030.
Fiscal Year 2025
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Core EPS for 2025 exceeded guidance at $6.55, with strong cost management and regulatory clarity. Guidance for 2026–2027 supports 5%-7% EPS growth through 2030, no equity needs, and robust capital plans, while wildfire risk and regulatory stability remain key focus areas.
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Q3 2025 core EPS rose to $2.34, driven by a GRC true-up, with 2025 EPS guidance narrowed to $5.95-$6.20. Regulatory progress, wildfire settlements, and SB 254 support financial stability, while a $28-$29B capital plan and strong demand growth underpin a reaffirmed 5%-7% EPS CAGR through 2028.
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Q2 2025 core EPS declined year-over-year due to higher O&M and pending GRC decisions, but 2025 EPS guidance and long-term growth targets were reaffirmed. Ongoing wildfire risk, regulatory actions, and legislative changes remain key uncertainties.
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Q1 2025 core EPS rose to $1.37, driven by TKM settlement, with 2025 EPS guidance reaffirmed at $5.94-$6.34 and long-term growth of 5%-7% CAGR. Wildfire recovery and mitigation remain key, with probable Eaton Fire losses disclosed but not yet estimable.
Fiscal Year 2024
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Core EPS for 2024 exceeded guidance at $4.93, with a 21st consecutive dividend increase and strong progress on wildfire mitigation and regulatory cost recovery. The company remains confident in its 2025 outlook and long-term EPS growth, despite ongoing wildfire-related uncertainties.
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Q3 2024 core EPS reached $1.51, with strong year-to-date results supporting narrowed 2024 guidance and confidence in 2025 and long-term EPS growth. SCE advanced wildfire cost recovery, regulatory proceedings, and grid hardening, while reaffirming its net-zero commitment.
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Core EPS for Q2 2024 reached $1.23, with YTD at $2.37 and 2024 guidance reaffirmed at $4.75-$5.05. Load growth is accelerating, grid hardening is ahead of schedule, and wildfire risk is significantly reduced. Equity needs remain low, supporting robust capital investment.