Edison International Earnings: Below Analysts’ Estimates

S&P 500 (NYSE:SPY) component Edison International (NYSE:EIX) reported its results for the first quarter. Through its subsidiaries, Edison International generates and distributes electric power and invests in infrastructure and energy assets, including renewable energy.

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Edison International Earnings Cheat Sheet for the First Quarter

Results: Net income for the utility-electric power fell to $114 million (28 cents per share) vs. $214 million (61 cents per share) a year earlier. This is a decline of 46.7% from the year-earlier quarter.

Revenue: Rose 2.7% to $2.86 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Edison International reported adjusted net income of 35 cents per share. By that measure, the company fell short of mean estimate of 44 cents per share. It fell short of the average revenue estimate of $3.05 billion.

Quoting Management: “The timing impact on SCE’s first quarter results should correct itself when a final rate case decision is received,” said Ted Craver, chairman and chief executive officer of Edison International. “Prospects remain strong for rate base and earnings growth at SCE.”

Key Stats:

After beating analyst estimates for the two previous quarters, the company fell short of forecasts. In the fourth quarter of the last fiscal year, it topped the mark by 30 cents, and in the third quarter of the last fiscal year, it was ahead by 6 cents.

The company reported a profit last quarter, following a quarter of being in the red. The company booked a net loss of $441 million, or $1.30 per share, in the third quarter of the last fiscal year.

Revenue rose last quarter after dropping in the previous quarter. Revenue fell 1.8% to $3.01 billion in the fourth quarter of the last fiscal year from the year earlier.

Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the second quarter has moved up from 29 cents a share to 39 cents over the last ninety days. At $2.40 per share, the average estimate for the fiscal year has fallen from $2.47 ninety days ago.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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