Edison International Q2 Profit Jumps 56% to $534M, Guides FY EPS $5.90-$6.20
EIX sits 54% above its 52-week low of $51.01.
Summary
Edison International reported Q2 GAAP net income of $534 million, or $1.38 per share, up from $343 million, or $0.89 per share, a year ago. Revenue slipped 4.1% to $4.357 billion. The company issued full-year EPS guidance of $5.90 to $6.20. This follows the 8-K and 10-Q filed earlier today, which highlighted a 58% jump in core EPS to $1.54, driven by higher authorized rates, though the Eaton Fire casts a shadow with $1.6 billion in settlement losses largely offset by recoveries. The GAAP results and revenue detail add new color to the core earnings already disclosed. With the stock trading near its 52-week high of $81.62, the reaffirmed guidance and profit growth support the positive momentum.
At the time of this announcement, EIX was trading at $78.42 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $30.3B. The 52-week trading range was $51.01 to $81.62. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: dpa-AFX.