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.
Edison International (NYSE: EIX) has announced it will host a conference call to discuss its Fourth Quarter and Full-Year 2024 Financial Results. The call will take place from 1:30-2:30 p.m. (PST). Investors can access the call through U.S. toll-free number (1-888-673-9780) or international number (1-312-470-0178) using the passcode 'Edison'. A live webcast will be available at www.edisoninvestor.com. A telephone replay will be accessible through March 12 at 6 p.m. (PST) via dedicated U.S. and international numbers.
Edison International and Southern California Edison (SCE) are managing widespread power outages and wildfire impacts across Southern California. As of January 12, SCE has restored power to over 500,000 customers (90% of outages), with 62,662 customers still affected. Restoration times may extend from days to weeks due to severe equipment damage and access restrictions.
The company filed two Electric Safety Incident Reports (ESIR) with the California Public Utilities Commission for the Eaton Fire and Hurst Fire. For the Eaton Fire, preliminary analysis showed no electrical anomalies. Regarding the Hurst Fire, a downed powerline was discovered, though its relation to the fire's ignition remains unclear.
Edison International has pledged $1 million in wildfire relief efforts, including $350,000 in immediate support to various organizations. Dangerous weather conditions are expected through January 15, with some customers potentially facing continued Public Safety Power Shutoffs (PSPS).
Edison International reports on severe wildfire conditions affecting Southern California, with three major fires: Palisades, Eaton, and Hurst. The company's subsidiary, Southern California Edison (SCE), is managing power outages affecting 413,639 customers as of 4 p.m. PST on January 8, with 183,186 due to Public Safety Power Shutoffs (PSPS) and 230,453 from windstorm-related issues.
The Eaton Fire started in SCE's service area, where distribution lines were preventively de-energized before the fire's start. While the Palisades and Hurst fires originated outside SCE's service territory, the company has transmission facilities near the Hurst Fire's ignition site. Both incidents are under review.
The extreme weather event is expected to continue through early weekend, potentially causing extended outages. SCE will receive support from other utilities through the industry's mutual assistance program to restore power once conditions are safe.
Edison International (NYSE: EIX) has announced a 6.1% increase in its annual dividend rate, raising it from $3.12 to $3.31 per share. The company declared a quarterly dividend of $0.8275 per share, payable on Jan. 31, 2025, to shareholders of record on Jan. 7, 2025. This marks the 21st consecutive year of dividend increases for Edison International. The company's CEO, Pedro Pizarro, stated that this increase reflects confidence in the company's financial future and aligns with their long-term EPS growth target of 5% to 7%.
Southern California Edison has announced the redemption of all outstanding shares of its Series H Preference Stock, triggering the redemption of SCE Trust III's 5.75% Fixed to Floating Rate Trust Preference Securities. The redemption is scheduled for November 28, 2024, at $25.00 per Trust Preference Security, plus accrued and unpaid dividends of $0.426992 per security. After the redemption date, all dividends will cease to accrue, and all rights will terminate except for the right to receive the redemption price upon surrender of securities.
Edison International (EIX) reported third-quarter 2024 net income of $516 million, or $1.33 per share, compared to $155 million ($0.40 per share) in Q3 2023. Core earnings were $582 million ($1.51 per share), up from $531 million ($1.38 per share) last year. The increase was primarily driven by higher revenue authorized in Track 4 of Southern California Edison's 2021 General Rate Case and an increased authorized rate of return. The company narrowed its 2024 core EPS guidance to $4.80-$5.00 and reaffirmed long-term core EPS growth rate targets of 5%-7% for both 2021-2025 and 2025-2028 periods.
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
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