Edison Intl Stock Price, News & Analysis

Edison International (NYSE: EIX) has announced a conference call to discuss its Third Quarter 2024 Financial Results. The call is scheduled for 1:30-2:30 p.m. (PDT). Investors can join via phone using the following numbers:

• U.S. callers: 1-888-673-9780
• International callers: 1-312-470-0178

The passcode for the call is 'Edison'. A webcast will also be available at www.edisoninvestor.com. For those unable to attend, a telephone replay will be accessible until Nov. 11 at 6 p.m. (PDT) using the following numbers:

• U.S. callers: 1-800-391-9853
• International callers: 1-203-369-3269

The replay passcode is 9413.

Edison International has opened applications for its Edison Scholars Program, offering $1.5 million in scholarships to 30 high school seniors in Southern California Edison's service area. Each winner receives a $50,000 scholarship paid over four years to pursue STEM-related studies. Eligible applicants must have a 3.0 GPA, demonstrate financial need, and plan to major in STEM fields, cybersecurity, or data analytics.

Winners can also apply for a paid summer internship with SCE after their first year of college. The program, funded by Edison International shareholders, has awarded over $16.5 million to 790 students since 2006. Applications are open until January 23 at edisonscholars.com.

Edison International released 'Reaching Net Zero', a report outlining California's path to achieving net-zero greenhouse gas emissions by 2045. The report, presented at Climate Week NYC, highlights that despite infrastructure challenges, extreme weather impacts, and technological gaps, a clean energy future for California is attainable with immediate action.

The report emphasizes the need for significant investment and cooperation to achieve lower energy costs, reduced disaster risk, and cleaner air. It builds upon Edison International's 2019 'Pathway 2045' analysis, providing updated insights on the state's progress towards its climate goals.

Edison International (NYSE: EIX) has declared a quarterly common stock dividend of $0.78 per share, payable on Oct. 31, 2024, to shareholders of record on Oct. 7, 2024. Additionally, Southern California Edison has declared dividends for various series of preference stocks, all payable on Dec. 15, 2024, to shareholders of record on Dec. 13, 2024. These include:

• Series G: $0.31875 per security on SCE Trust II's 5.10% Trust Preference Securities
• Series H: $0.518084 per security on SCE Trust III's 5.75% Trust Preference Securities
• Series J: $0.3359375 per security on SCE Trust IV's 5.375% Trust Preference Securities
• Series K: $0.340625 per security on SCE Trust V's 5.45% Trust Preference Securities
• Series L: $0.3125 per security on SCE Trust VI's 5.00% Trust Preference Securities
• Series M: $0.46875 per security on SCE Trust VII's 7.50% Trust Preference Securities
• Series N: $0.434375 per security on SCE Trust VIII's 6.95% Trust Preference Securities

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.