Edison Intl Stock Price, News & Analysis

Southern California Edison (SCE) and Ford Motor Company have partnered to offer electric vehicle (EV) owners compensation for supporting the grid during peak energy demand periods. Ford becomes the first major U.S. automaker to participate in SCE's Emergency Load Reduction Program (ELRP), enhancing grid resilience and advancing vehicle grid integration (VGI).

Through Ford's California Power Response program, EV drivers can earn $1 per kWh of energy reduced during peak grid events. This initiative demonstrates the growing importance of collaboration between automakers and utility companies to support grid resiliency as more EVs enter the market. The program utilizes Ford's managed charging solution and is expected to provide valuable load reduction during peak demand periods.

Edison International (NYSE: EIX) and Southern California Edison have declared dividends for Q3 2024. Edison International will pay semiannual dividends on its preferred stocks: $26.875 per share for Series A and $25.00 per share for Series B, both payable on Sept. 15, 2024, to shareholders of record on Sept. 1, 2024.

Southern California Edison declared quarterly dividends on its preference stocks, ranging from $0.31875 to $0.588819 per security, payable on Sept. 15, 2024, to shareholders of record on Sept. 13, 2024. The Edison International board will consider approval of the EIX common stock dividend in September, with payment expected on Oct. 31.

Edison International (NYSE: EIX) reported its second-quarter 2024 results, showing a net income of $439 million or $1.14 per share, up from $354 million or $0.92 per share in the same period last year. Core earnings were $475 million or $1.23 per share, compared to $388 million or $1.01 per share last year. The increase in earnings is attributed to higher revenue from SCE's General Rate Case (GRC) and an adjusted rate of return on capital. Edison reaffirmed its 2024 EPS guidance of $4.75-$5.05 and its long-term core EPS growth rate targets of 5%-7% for 2021-2025 and 2025-2028.

Southern California Edison (SCE) has completed 84% of its planned hardening of distribution lines in high fire risk areas. The 2025 GRC proceeding is on track with several partial settlements. Additionally, Edison announced a $200 million stock repurchase program effective from July 2024 to December 2025, aimed at offsetting dilution from stock issued under its long-term incentive plans.

The Rockefeller Foundation announced John W. Rogers Jr. as the new Chair of the Economic Opportunity Coalition's (EOC) Management Committee. Edison International, Exelon (EXC), and Southern Company have joined the EOC with new procurement commitments, alongside existing members Xcel Energy, Micron, and Air Products. The EOC aims to strengthen domestic supply chains and build wealth in underserved communities through targeted procurement practices.

Companies partnering with the EOC have collectively purchased over $10 billion in products and services from small and historically underutilized businesses. The EOC Business Procurement pledge includes sponsoring technical assistance programs and allocating at least 15% of U.S.-based contracting spending to small and underutilized businesses by 2026. EOC members also committed more than $1 billion in deposits to Community Development Financial Institutions and Minority Depository Institutions in 2023.

Edison International has announced the 12 recipients of its Lineworker Scholarship, awarding up to $25,000 per recipient to pursue a career in the skilled trade workforce at Southern California Edison (SCE). The scholarship, funded by Edison International shareholders and IBEW Local 47, aims to build a diverse workforce in SCE's service area. It covers tuition, tools, and support services for the Powerline Mechanic Certificate Program at Los Angeles Trade-Technical College and obtaining a Class A driver's license.

Since its launch in 2021, the program has awarded 35 scholarships, focusing on increasing representation of Black, Asian Pacific Islander, Native American, and female workers in SCE's skilled workforce. Successful graduates are eligible for entry-level positions at SCE upon completing pre-employment requirements. The initiative supports California's 2045 carbon-free goal by preparing a skilled workforce for the electric transition.

Edison International (NYSE: EIX) has announced a quarterly dividend of $0.78 per share for Q2.

The dividend will be payable on July 31, 2024, to shareholders who are on record as of July 8, 2024.

Edison International (NYSE: EIX) will hold a conference call to discuss its Second Quarter 2024 financial results on Thursday, July 25, from 1:30 to 2:30 p.m. PDT.

Details for participating in the call include dial-in numbers for both U.S. and international callers and a passcode. The call will be webcast live on Edison International's investor website, with a telephone replay available until August 7, 6 p.m. PDT.

For investor queries, contact Sam Ramraj at (626) 302-2540, and for media inquiries, reach out to (626) 302-2255 or news@sce.com. More information can be found on BusinessWire.

Southern California Edison (SCE) and Lotus Infrastructure Partners have been selected by the California Independent System Operator (CAISO) to develop, permit, own, operate, and maintain a new transmission infrastructure project in Southern California. The project involves constructing a high-voltage transmission line from the Serrano Substation in Orange County to near the retired San Onofre Nuclear Generating Station (SONGS). This line will deliver energy from renewable sources like solar, wind, and battery installations. Lotus will lead the project’s development, while SCE will purchase the project upon completion and regulatory approval, leasing 25% of the transmission capacity back to Lotus. The project will support California's clean energy goals and address the increasing demand for reliable electricity.

Southern California Edison announced the redemption of all outstanding shares of its Series E Preference Stock on June 6, 2024, at a price of $1,000 per share, plus accrued dividends. The redemption will be funded through an offering of new preference securities and managed by The Depository Trust Company. After redemption, all rights and dividends on the Series E Preference Stock will cease.