Edison Q3 2021 Earnings Report

Reported a net loss but core EPS increased due to higher revenue from the 2021 General Rate Case (GRC) final decision and higher Federal Energy Regulatory Commission revenue.

Key Takeaways

Edison International reported a net loss of $341 million, or $0.90 per share, for the third quarter of 2021, compared to a net loss of $288 million, or $0.76 per share, in the third quarter of 2020. Core earnings were $644 million, or $1.69 per share, compared to $632 million, or $1.67 per share, in the third quarter of 2020.

Third Quarter 2021 GAAP loss per share of $0.90; Core EPS of $1.69

EIX and SCE revise best estimate of total potential losses from 2017/2018 Wildfire/Mudslide Events to $7.5 billion; $5.3 billion has been resolved and $2.2 billion remains to be resolved

SCE executes agreement with CPUC Safety and Enforcement Division (SED) to resolve enforcement actions related to the 2017/2018 Wildfire/Mudslide Events

EIX narrows 2021 EPS guidance to $4.42–4.52. Also reiterates long-term EPS growth rate target of 5–7%

Total Revenue

$5.3B

Previous year: $4.64B

Previous year: $1.58B