The company incurred GAAP earnings of $1.14 per share compared with earnings of 92 cents per share recorded in the second quarter of 2023. Edison International's second-quarter operating revenues totaled $4.34 billion, which beat the Zacks Consensus Estimate of $4.03 billion by 7.5%. The top line also increased 9.4% from the year-ago quarter's figure of $3.96 billion. During the second quarter of 2024, EIX's total operating expenses increased 6% year over year to $3.44 billion. The operating income amounted ...

Financial Data and Key Metrics - Core EPS for Q2 2024 was $1.23, bringing year-to-date core EPS to $2.37 [9] - The company reaffirmed its 2024 core EPS guidance of $4.75 to $5.05 [9] - SCE's system average rate decreased to $0.267 per kilowatt-hour, lower than at the start of the year [17] - SCE reduced rates by about 2% on June 1, driven by the removal of historical costs [22] - SCE's 10-year load growth forecast increased by 35% compared to the 2022 distribution system plan [14] Business Line Data and Key Metrics - SCE delivered 52% carbon-free power to customers in 2023, 55% cleaner than the national average [30] - SCE contracted approximately 2,200 megawatts of energy storage, bringing the total to 8,100 megawatts [30] - SCE has deployed approximately 5,900 miles of covered conductor, with 84% of plant hardening complete [25] - SCE expects to approach 90% of total distribution lines in high fire risk areas being hardened by the end of 2025 [25] Market Data and Key Metrics - SCE's rate increases through 2028 are projected to align closely with local inflation levels, at 2.6% [23] - SCE's wildfire risk reduction is estimated at 85% to 88% compared to pre-2018 levels [18] - SCE's total hardened miles in high fire risk areas exceed those of all other California IOUs combined [26] Company Strategy and Industry Competition - The company is leading the charge toward a carbon-neutral California, with sustainability at the core of its strategy [12][31] - SCE is focusing on grid investments to support a resilient, equitable clean energy economy [29] - The company is well-positioned to address load growth and resulting capital needs due to its low system average rate among California IOUs [35] Management Commentary on Operating Environment and Future Outlook - Load growth trends are materializing sooner than expected, with potential upside for SCE's CapEx opportunities [12][13] - The company expects new policies to drive higher customer adoption of electric vehicles and building electrification [15] - SCE's operational and financial risk profiles have significantly improved, with wildfire risk reduction exceeding 90% in some scenarios [18][19] Other Important Information - SCE has resolved 98% of TKM individual plaintiff claims and 92% of Woolsey individual plaintiff claims [44] - SCE's 2025 GRC underpins the company's forecast for continued rate base growth [45] - The company has equity needs of only $400 million for the 2025 through 2028 period, despite substantial capital deployment plans [53] Q&A Session Summary Question: GRC Partial Settlement and Remaining Debates [54] - The company has reached partial settlements covering 12 areas of the GRC, representing nearly 20% of the O&M request and about 8% of the capital request [41] - Management is confident in achieving a constructive final decision due to the alignment of intervener proposals with the lower end of the company's range [55][56] Question: Load Growth and Incremental Investment [57] - Load growth is materializing faster than expected, with potential for incremental investment in the planning period through 2028 [57] - The company has flexibility to reprioritize capital within the GRC cycle and may pursue alternative funding mechanisms for additional investments [58][59] Question: Legacy Wildfire Cost Recovery [62] - The company is open to settlements but cannot comment on specific elements of the case at this time [62] - The next steps include a case management statement due on August 7, with hearings scheduled for November or January [63] Question: Capital Allocation and Wildfire Claims Recovery [65] - Recovery from wildfire claims will improve credit metrics, with every $1 billion in recovery improving metrics by 40 to 50 basis points [66] - The company plans to securitize the recovery and may replace higher-cost equity content securities with regular way debt [66][68] Question: 2024 EPS Guidance and Load Demand [70] - The company is confident in achieving its 2024 core EPS guidance of $4.75 to $5.05 [70] - The ability to fund additional capital without additional equity depends on the timing of investments and the company's FFO-to-debt financing framework [71] Question: Load Growth Forecast and EV Impact [74] - The company is seeing 2% to 3% load growth in the near term, with a 10-year forecast showing a 35% increase [74] - Federal incentives, such as those from the Inflation Reduction Act, are helping to lower the cost of the transition to electric vehicles [91][92] Question: NextGen ERP System and Load Growth [87] - The NextGen ERP system application will focus on cost and benefits, particularly in improving work management efficiency [87] - The system is not in competition with load growth investments, as both are necessary for meeting customer demand and running an efficient operation [88] Question: TKM Recovery and Cal Advocates Testimony [95] - The company views the lack of additional testimony from other parties as an opportunity for further engagement and does not read too much into the initial step [96]

Over the last four quarters, the company has surpassed consensus EPS estimates three times. What's Next for Edison International? It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.48 on $4.71 billion in revenues for the coming quarter and $4.92 on $16.5 billion in revenues for the current fiscal year. Portland General Electric's revenues are expected to be $709.44 million, up 9.5% from the year-ago q ...

(Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to FORWARD-LOOKING STATEMENTS ● changes in future taxable income, or changes in tax law, that would limit Edison International's and SCE's realization of expected net operating loss and tax credit carryover benefits prior to expiration; | --- | ...

| --- | --- | --- | |-------|-------|----------------------------------------------------------| | | | Exhibit 99.1 | | | | NEWS | | | | Investor Relations: Sam Ramraj, (626) 302-2540 | ● Second-quarter 2024 GAAP EPS of $1.14; Core EPS of $1.23 Southern California Edison's second-quarter 2024 core earnings per share (EPS) increased year over year, primarily due to higher revenue authorized in Track 4 of SCE's 2021 General Rate Case, an increase in the authorized rate of return resulting from the cost of cap ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Edison International (EIX) . This company, which is in the Zacks Utility - Electric Power industry, shows potential for another earnings beat. This electric power provider has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the ...

Zacks Premium also includes the Zacks Style Scores. Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on. Growth Score The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research r ...

NEW YORK, July 18, 2024 /PRNewswire/ -- The Rockefeller Foundation announced today that John W. Rogers Jr., Chairman and co-CEO of Ariel Investments, LLC, has joined the Economic Opportunity Coalition's (EOC) Management Committee as Chair. In addition, the EOC is an innovative initiative that has received new procurement commitments from Edison International, Exelon Corporation, and Southern Company. The three companies join Xcel Energy, Micron, and Air Product in advancing the EOC's goal of partnering with ...

Sector Diversification Geographic Diversification UTF Factsheet UTF has a strong track record of regular distributions since its inception in 2004. The CEF makes monthly payments of $0.155/share, calculating an 8% annualized yied. YTD 2024, UTF's distributions are estimated as 51% NII (qualified dividends) and 49% long-term capital gains. UTF employs a 30% leverage in its investment strategy, with 85% carrying rates fixed at 1.6% with a weighted average term of 2.2.6 years. The CEF's weighted average cost o ...

It has been about a month since the last earnings report for Edison International (EIX) . Shares have added about 2.9% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Edison International due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Edison International Q1 E ...