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Jun 30, 2024
Edison Q2 2024 Earnings Report
Edison International reported an increase in net income and core EPS compared to the same quarter last year and reaffirmed its 2024 core EPS guidance.
Key Takeaways
Edison International reported a second-quarter net income of $439 million, or $1.14 per share, compared to $354 million, or $0.92 per share, in the second quarter of last year. Core earnings were $475 million, or $1.23 per share, compared to $388 million, or $1.01 per share, in the second quarter of last year. The company reaffirmed its 2024 core EPS guidance of $4.75-$5.05.
Second-quarter 2024 GAAP EPS was $1.14; Core EPS was $1.23.
SCE has completed 84% of planned hardening of distribution lines in high fire risk areas.
The 2025 GRC proceeding is on track, with partial settlements reached with intervenors.
The company reaffirmed its 2024 core EPS guidance of $4.75-$5.05.
Edison
Edison
Forward Guidance
Edison International reaffirmed its 2024 core EPS guidance of $4.75 to $5.05, based on a strong start to the first half of the year and progress in SCE’s 2025 General Rate Case.
Positive Outlook
- Reaffirmed 2024 core EPS guidance of $4.75-$5.05.
- Confidence in getting a strong outcome for customers based on progress in SCE’s 2025 General Rate Case, including many partial settlements.
- Funding authorized in the GRC to continue making investments in SCE’s grid is the linchpin for achieving 2025 EPS guidance.
- Confident in delivering a 5% to 7% EPS CAGR through 2028.
- SCE will need to significantly expand the electric system to ensure a reliable, resilient and ready grid due to a 35% higher load growth forecast.