Edison Intl Stock Price, News & Analysis

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.

PG&E and Southern California Edison are enhancing support for customers as California braces for increased wildfire risks. In partnership with the 211 California Network, they are offering a free service to assist individuals with Access and Functional Needs during potential Public Safety Power Shutoffs (PSPS). This initiative enables connections to community organizations for essential services such as transportation, meal delivery, and backup power. Customers can access assistance by calling 211 or texting 'PSPS' to 211-211, available 24/7, in response to ongoing drought conditions and wildfire threats.

The Board of Directors of Edison International (NYSE: EIX) has declared a quarterly common stock dividend of $0.70 per share, set to be paid on July 31, 2022, to shareholders of record on July 5, 2022. Additionally, a dividend of $14.017 per share on Series E preference stock will be paid on August 1, 2022, also to holders of record on July 5, 2022. Edison International is one of the largest electric utility holding companies in the U.S., providing reliable energy to millions.

Edison International has launched a $1 million scholarship program in partnership with IBEW Local 47 to enhance diversity among lineworkers. The initiative, aimed at attracting Black participants, will benefit twelve recipients pursuing careers in the skilled trades. Each scholarship can award up to $25,000 for tuition and training at Los Angeles Trade-Technical College. This program reflects Edison International's commitment to diversity, aligning with their goal to better represent the communities they serve. The scholarship aims to create a more inclusive workforce at Southern California Edison.

Edison International (NYSE: EIX) reported first quarter 2022 net income of $84 million, or $0.22 per share, down from $259 million, or $0.68 per share, year-over-year. However, core EPS rose to $1.07 from $0.79, driven by the adoption of the 2021 General Rate Case. The company revised wildfire-related losses for 2017/2018, resulting in a net after-tax charge of $281 million. Edison maintains its 2022 EPS guidance of $4.40–4.70 and expects to file for cost recovery of approximately $5.2 billion related to the wildfire events by late 2023.

The Board of Directors of Southern California Edison has declared several quarterly dividends on various preference stocks. The dividends include:

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

These dividends are scheduled to be paid on June 15, 2022, to holders of record on June 14, 2022.

Edison International has announced the awarding of $1.2 million in scholarships to thirty high school seniors in Southern California, aiming to support their pursuit of STEM fields. Each recipient will receive $40,000, distributed over four years. Since 2006, the Edison Scholars Program has provided over $13.5 million in scholarships, funded entirely by EIX shareholders. The company emphasizes its ongoing commitment to fostering education and clean energy initiatives.