Welcome to our dedicated page for Edison Intl news (Ticker: EIX), a resource for investors and traders seeking the latest updates and insights on Edison Intl stock.
Edison International (NYSE: EIX) news covers developments at one of the nation’s largest electric utility holding companies and its key subsidiaries. The company is headquartered in Rosemead, California and focuses on providing clean and reliable energy and energy services through Southern California Edison and Trio. Southern California Edison delivers electricity to approximately 15 million people via about 5 million customer accounts in a 50,000-square-mile service area across Southern, Central and Coastal California, while Trio provides sustainability and energy advisory services to large organizations in North America and Europe.
News about Edison International often includes financial and capital markets updates, such as quarterly earnings results, guidance discussions, and details of tender offers or redemptions for preferred stock and trust preference securities. Recent press releases describe cash tender offers for fixed-rate reset cumulative perpetual preferred stock, term loan arrangements, and actions related to trust preference securities issued by SCE-related trusts.
Another important category of EIX news involves regulatory and legislative developments. Company communications highlight decisions by the California Public Utilities Commission on cost of capital and general rate cases, wildfire-related cost recovery proceedings, and legislative measures like California Senate Bill 254 and Assembly Bill 1054 that affect wildfire liability and financial stability for investor-owned utilities.
Investors and observers can also find community and corporate responsibility stories, such as announcements about the Edison Scholars STEM scholarship program and tributes to influential company leaders who contributed to California’s energy policy and clean energy movement.
This news page aggregates these types of updates so readers can follow Edison International’s financial disclosures, regulatory milestones, capital structure actions, and community initiatives in one place.
The Hershey Company (NYSE: HSY) has announced two significant clean energy partnerships aimed at transitioning to renewable energy. The first project, a 20 MW solar farm in Camden, North Carolina, will reduce CO2 emissions by 32,025 metric tons annually. The second project involves a 50 MW solar power agreement with National Grid Renewables for the Noble Project in Texas, projected to lower CO2 emissions by approximately 83,625 metric tons per year. Together, these projects will decrease Hershey's carbon footprint by 115,650 metric tons annually, aligning with their goals to cut greenhouse gas emissions by over 50% by 2030.
In 2021, Edison International will award $1.2 million in scholarships to thirty high school seniors in its service area as part of the Edison Scholars Program, supporting STEM education. Each student will receive $40,000 over four years to attend accredited U.S. colleges. Since its inception in 2006, the program has distributed over $12 million to 700 students. Funded entirely by shareholders, the initiative does not use customer utility payments. A virtual reception will celebrate the scholars on May 21, 2021.
Edison International (NYSE: EIX) is set to release its First Quarter 2021 Financial Results on April 27, 2021, from 1:30 to 2:30 p.m. Pacific Time. Investors can access the event via a live conference call and webcast, with playback options available until May 11, 2021. The company, headquartered in Rosemead, California, is a leading electric utility provider serving approximately 15 million customers in California through its subsidiary Southern California Edison Company. Edison International emphasizes its commitment to clean and reliable energy.
Southern California Edison (SCE) has released a comprehensive three-volume set of plans aimed at relocating spent nuclear fuel from the San Onofre Nuclear Generating Station. This initiative includes the Action Plan, Strategic Plan, and Conceptual Transportation Plan, developed with North Wind, Inc. The plans outline steps for safe fuel transport and advocate for federal action concerning offsite disposal. A coalition, Action for Spent Fuel Solutions Now, has been formed with local stakeholders to push these plans forward, addressing previous challenges regarding the lack of federal repository options.
Edison International (NYSE: EIX) has announced the pricing of a public offering of 1.25 million shares of its 5.375% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock. This transaction, expected to close on March 9, 2021, aims to generate approximately $1.24 billion in net proceeds. The offering addresses part of the company’s $1 billion equity content need, supporting its investment-grade ratings. Edison will utilize the funds to assist Southern California Edison with debt financing related to previous wildfire claims.
Edison International (NYSE: EIX) declared a quarterly common stock dividend of $0.6625 per share, to be paid on April 30, 2021, for shareholders of record on March 31, 2021.
Additionally, dividends were announced for various Series preference stocks:
- Series G: $0.31875
- Series H: $0.359375
- Series J: $0.3359375
- Series K: $0.340625
- Series L: $0.3125
All preference stock dividends will be paid on March 15, 2021, to holders of record on March 12, 2021.
Edison International (NYSE: EIX) reported a fourth quarter 2020 net income of $526 million ($1.39 per share), a significant increase from $143 million ($0.40 per share) in Q4 2019. Adjusted core earnings rose to $451 million ($1.19 per share) from $355 million ($0.99 per share) year-over-year. Key drivers included higher CPUC-related revenue and lower regulatory expenses. However, 2020 full-year earnings declined to $0.7 billion ($1.98 per share) from $1.3 billion ($3.78 per share) in 2019. The Board declared a dividend of $0.6625 per share, payable April 30, 2021.
Southern California Edison has updated its 2020-22 Wildfire Mitigation Plan, emphasizing adaptive measures to reduce fire risks from utility infrastructure. The plan promises to decrease the frequency of Public Safety Power Shutoffs (PSPS) affecting customers. Key initiatives include enhancing fire risk inspections, expanding system hardening activities, and improving response capabilities for emerging fires. SCE aims to invest approximately $3.8 billion, with $1.3 billion spent in the last year alone. The company reports successful outcomes in 2020, including the replacement of over 960 miles of power lines and the removal of over 12,200 hazard trees.
Edison International (NYSE: EIX) announced its Fourth Quarter and Full-Year 2020 financial results, scheduled for February 25, 2021. The company, a leading electric utility, supplies energy to 15 million customers in California through its subsidiary, Southern California Edison. Edison International also operates Edison Energy, providing energy solutions globally. Investors can access the live conference call and webcast via their investor website. A replay will be available until March 12, 2021, ensuring stakeholders stay informed on the company's performance.
Southern California Edison (SCE) has settled all subrogation claims related to the 2018 Woolsey Fire, agreeing to pay $2.2 billion to insurance holders within 90 days. This settlement resolves pending litigation involving approximately 1,000 plaintiffs from various wildfire events, including the 2017 Thomas Fire. With this agreement, SCE's total estimated losses for the 2017/2018 Wildfire/Mudslide Events remain at $4.6 billion, with $700 million expected from insurance recoveries. Additionally, Edison International plans to issue $1 billion in equity to support these claims, subject to regulatory approval.
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