Edison International Earnings Call Transcripts
Fiscal Year 2026
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Core EPS for Q1 2026 was $1.42, with guidance and long-term growth targets reaffirmed. Strong regulatory clarity, disciplined capital execution, and operational excellence support a 5%-7% EPS growth outlook, with 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.