Edison Intl Stock Price, News & Analysis

Edison International reported a third quarter 2022 net loss of $128 million, or $0.33 per share, an improvement from a loss of $341 million in Q3 2021. Core EPS decreased to $1.48 from $1.69 year-over-year, mainly due to a prior true-up adjustment. The utility is making progress in wildfire mitigation, set to complete 4,300 miles of covered conductor by year-end. Notably, a revision of estimates regarding past wildfire claims resulted in an after-tax charge of $598 million. The company has narrowed its 2022 EPS guidance to $4.48–4.68, maintaining a long-term growth target of 5–7%.

The Board of Directors of Southern California Edison has declared quarterly dividends for its preference stocks, payable on December 15, 2022. Shareholders on record as of December 14, 2022 will receive the following distributions:

• Series G: $0.31875 per share
• Series H: $0.359375 per share
• Series J: $0.3359375 per share
• Series K: $0.340625 per share
• Series L: $0.3125 per share

Southern California Edison, a subsidiary of Edison International (NYSE: EIX), serves approximately 15 million people in Southern California.

Edison International is expanding its Edison Scholars Program, offering high school seniors a chance to receive a $50,000 scholarship and a paid summer internship with Southern California Edison. Applications are open until December 9, with $1.5 million allocated for this year's scholarships. The program aims to support students from underserved communities pursuing studies in STEM fields. Since 2006, over $13.5 million has been awarded to 730 students, funded by shareholder contributions.

Edison International (NYSE: EIX) announced its Third Quarter 2022 Financial Results on November 1, 2022. The conference call is scheduled from 1:30 to 2:30 p.m. (Pacific Time), with access numbers provided for both U.S. and international callers. A replay will be available until November 16, 2022. Edison International, a major electric utility holding company, serves 15 million customers in California through Southern California Edison Company and offers energy solutions via Edison Energy LLC.

The Board of Directors of Edison International (NYSE: EIX) announced a quarterly common stock dividend of $0.70 per share, payable on October 31, 2022, to shareholders of record by September 30, 2022. Additionally, the Board declared several semi-annual dividends on its preferred stocks, including $26.875 for Series A and $25.00 for Series B, both payable on September 15, 2022. The Southern California Edison also announced dividends on various preference stocks, marking a commitment to return value to shareholders.

Edison International (NYSE: EIX) reported a second quarter 2022 net income of $241 million, or $0.63 per share, down from $318 million, or $0.84 per share in Q2 2021. Core EPS remained steady at $0.94, reflecting operational stability. The company reaffirmed 2022 EPS guidance at $4.40–4.70, with a long-term growth target of 5–7%. Significant advancements include the installation of over 3,500 circuit miles of covered conductor for wildfire mitigation, enhancing safety measures. Edison also maintains the lowest system average rate among large California utilities, demonstrating operational excellence.

Southern California Edison (EIX) has successfully deployed over 3,500 miles of covered conductor to mitigate wildfire risks, achieving a significant 65% to 70% reduction in potential wildfire losses compared to pre-2018 levels. The company aims to complete 6,500 miles of covered conductor installations by the end of 2024. Enhanced grid hardening measures and targeted Public Safety Power Shutoffs (PSPS) contribute to this safety initiative. SCE anticipates a 60% decrease in PSPS outage time across 50 additional circuits this year, underscoring its commitment to community safety and reliable electricity supply.

Edison International (NYSE: EIX) announced its second quarter 2022 financial results on July 28, 2022. The company is one of the largest electric utility holding firms in the U.S., serving 15 million customers through Southern California Edison. Edison International is also home to Edison Energy LLC, offering energy advisory services globally. For additional details, interested parties may access the webcast of the earnings call or contact investor relations.

Southern California Edison and Pacific Gas and Electric Company, in collaboration with the 211 California Network, are enhancing emergency preparedness for customers facing Public Safety Power Shutoffs (PSPS) amid California's fire season. The joint effort focuses on supporting individuals with Access and Functional Needs, offering resources such as transportation, backup power, and meal delivery. Customers can access these services by calling 211 or texting 'PSPS'. The initiative aims to mitigate the impact of planned outages, ensuring critical assistance is available during emergencies.