Edison International Earnings Cheat Sheet: Profit Decreases

S&P 500 (NYSE:SPY) component Edison International (NYSE:EIX) reported its results for the second 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 Second Quarter

Results: Net income for the electric utilities company fell to $176 million (54 cents per share) vs. $344 million ($1.05 per share) a year earlier. This is a decline of 48.8% from the year earlier quarter.

Revenue: Rose 8.8% to $2.98 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: EIX beat the mean analyst estimate of 49 cents per share. Analysts were expecting revenue of $3.02 billion.

Quoting Management: “Our second quarter and year-to-date earnings performance is fully consistent with our 2011 earnings guidance,” said Ted Craver, chairman and chief executive officer of Edison International, “and we now see full-year 2011 earnings at the high end of our guidance range.”

Key Stats:

The company beat estimates last quarter after being in line with expectations in the first quarter with net income of 62 cents per share.

Revenue rose last quarter after seeing a drop the quarter before. Revenue fell 1% to $2.78 billion in the first quarter from the year earlier.

Competitors to Watch: PG&E Corporation (NYSE:PCG), Pinnacle West Capital Corp. (NYSE:PNW), UniSource Energy Corp. (NYSE:UNS), NV Energy, Inc. (NYSE:NVE), Portland General Electric Co. (NYSE:POR), PNM Resources, Inc. (NYSE:PNM), Constellation Energy Group, Inc. (NYSE:CEG), FirstEnergy Corp. (NYSE:FE), Hawaiian Electric Industries, Inc. (NYSE:HE), and Sempra Energy (NYSE:SRE).

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(Source: Xignite Financials)