Edison International Earnings: Here’s Why the Stock is Up Now

Edison International (NYSE:EIX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.1%.

Edison International Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 38.6% to $0.79 in the quarter versus EPS of $0.57 in the year-earlier quarter.

Revenue: Decreased 0.36% to $3.05 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Edison International reported adjusted EPS income of $0.79 per share. By that measure, the company beat the mean analyst estimate of $0.67. It beat the average revenue estimate of $2.67 billion.

Quoting Management: “As in the first quarter, strong operating results from Southern California Edison reflect higher authorized investment in our electric grid infrastructure, good cost management, and favorable tax benefits,” said Ted Craver, chairman and chief executive officer of Edison International. “These results are consistent with the updated Edison International earnings guidance that we provided in June and that we reaffirmed today.”

Key Stats (on next page)…

Revenue increased 15.73% from $2.63 billion in the previous quarter. EPS increased 2.6% from $0.77 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.15 to a profit $1.11. For the current year, the average estimate has moved down from a profit of $3.54 to a profit of $3.37 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)