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ROSEMEAD, Calif. - Edison International (NYSE:EIX) reported third-quarter core earnings that significantly exceeded analyst expectations, driven by higher revenue from its recently approved General Rate Case (GRC). The utility’s shares edged up 0.7% following the announcement.
The California-based utility posted third-quarter core earnings of $2.34 per share, handily beating the analyst consensus of $1.88. Revenue came in at $5.75 billion, surpassing estimates of $5.37 billion. Compared to the same period last year, core earnings increased by 55% from $1.51 per share, while revenue rose 10.6% from $5.20 billion.
Southern California Edison’s third-quarter core earnings increased year-over-year primarily due to higher revenue from the 2025 GRC final decision, which approved 91% of SCE’s proposed capital investments. The company noted that the decision highlighted "the important investments in the grid that provide long-lasting value to customers."
"We have made significant progress on the regulatory front this year, further de-risking our financial outlook and bolstering our ability to deliver for customers and investors," said Pedro J. Pizarro, president and CEO of Edison International.
The company narrowed its full-year 2025 core earnings guidance to $5.95-$6.20 per share from the previous range of $5.94-$6.34, with the midpoint of $6.08 slightly above the analyst consensus of $6.04.
Management expressed encouragement about the recent passage of Senate Bill 254, which supports investor-owned utility financial stability. Pizarro noted the company is "confident that we will see meaningful legislative action next year" regarding reforms to address climate-driven natural disasters.
Edison International also reaffirmed its confidence in delivering 5-7% core EPS growth from 2025 to 2028.
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