Edison International ( (EIX) ) has released its Q4 earnings. Here is a breakdown of the information Edison International presented to its investors.
Edison International is a major electric utility holding company based in Rosemead, California, primarily engaged in providing clean and reliable energy services through its subsidiaries, including Southern California Edison, which serves millions across California.
In its latest earnings report, Edison International announced its financial results for the fourth quarter and full year of 2024. The company reported a fourth-quarter GAAP earnings per share (EPS) of $0.88 and a core EPS of $1.05. For the full year, GAAP EPS stood at $3.33, while core EPS was $4.93, reflecting a steady performance amidst ongoing operational challenges.
Key financial highlights include a net income of $1,284 million for 2024, an increase from the previous year. The company also secured a $1.6 billion cost recovery settlement related to pre-AB 1054 wildfires, which influenced its revised core EPS guidance for 2025. Despite facing higher operational and maintenance expenses, the company benefited from increased revenue authorized in its General Rate Case and adjustments in its rate of return.
The company remains committed to enhancing grid resiliency and executing its wildfire mitigation strategies, as emphasized by CEO Pedro J. Pizarro. Edison International continues to engage with stakeholders to ensure community safety and manage customer costs effectively, while also focusing on regulatory frameworks to support its operational goals.
Looking ahead, Edison International projects a core EPS growth of 5-7% from 2025 to 2028, indicating a positive outlook for its financial performance. The company aims to continue its investments in infrastructure and safety measures to strengthen its position in the energy sector.