Edison International
Edison International Reports First-Quarter 2024 Results
Summary
Edison International reported a first-quarter 2024 net loss of $11 million, or $0.03 per share, due to higher wildfire-related charges and interest expense. Core earnings were $438 million, or $1.13 per share, up from $416 million, or $1.09 per share in the same period last year. The company revised its best estimate of expected losses for the 2017/2018 Wildfire/Mudslide Events, resulting in a net after-tax charge of $333 million. Edison International affirmed its 2024 core EPS guidance of $4.75-$5.05 and reiterated long-term core EPS growth rate targets. A financial teleconference was held to discuss these results.
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About Edison International
Edison International is a leading energy holding company based in California, primarily engaged in the generation and distribution of electric power. It operates through its subsidiary, Southern California Edison, one of the largest electric utilities in the United States, serving millions of residential, commercial, and industrial customers across Southern California. The company's primary function is to provide reliable and sustainable electricity, focusing on infrastructure resilience and clean energy solutions, including solar and wind power projects. Edison International plays a crucial role in the energy sector by facilitating the transition towards renewable energy sources, aiming to reduce carbon emissions and enhance energy efficiency. Its operations significantly impact industries such as construction, manufacturing, and technology, which rely on consistent power supply. Additionally, the company actively invests in modernizing the electric grid, which is pivotal for supporting the increasing demand for electric vehicles and integrating alternative energy sources. In the financial market, Edison International is recognized for its commitment to sustainability and its pivotal role in supporting the California economy through its energy solutions.
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