Edison International reported a mixed first quarter with core EPS growth driven by regulatory adjustments and lower preferred dividends, while GAAP EPS declined significantly year-over-year due to prior year wildfire-related benefits. The company affirmed its full-year guidance, signaling confidence in its long-term growth trajectory despite ongoing operational and wildfire-related complexities.
Affirmed 2026 core EPS guidance of $5.90-$6.20.
positiveContinued confidence in delivering 5-7% core EPS growth from 2025-2030.
positiveFirst-quarter 2026 core earnings were $546 million, or $1.42 per share, compared to core earnings of $528 million, or $1.37 per share, in the first quarter of last year.
positiveNet cash provided by operating activities increased to $1,427 million from $1,224 million in the prior year.
positiveGAAP Net Income decreased to $531 million from $1,436 million in the prior year, a significant decline attributed to the absence of a benefit related to the TKM Settlement Agreement and insurance reimbursements in the prior year.
negativeGAAP EPS decreased to $1.38 from $3.73 in the prior year.
negativeWildfire-related claims, net of recoveries, were $(5) million compared to $(1,305) million in the prior year, indicating a significant reduction in negative impact but highlighting ongoing wildfire-related costs.
attentionTotal operating expenses increased to $3,029 million from $1,677 million in the prior year, driven by higher wildfire-related claims and depreciation, despite a decrease in purchased power and fuel costs.
attentionLong-term debt increased to $37,311 million from $36,070 million in the prior year.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Pleased with our start to the year and the momentum across our business.
Continued performance reflects disciplined execution and steady operational progress to make communities safer and more resilient, including wildfire mitigation and rebuilding efforts.
Focused on supporting communities impacted by wildfires, including through the Wildfire Recovery Compensation Program.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.