Edison International Earnings: Revenue Growth Streak is Broken

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 electric utilities company fell to $200 million (61 cents/share) vs. $236 million (72 cents/share) a year earlier. A decline of 15.3% from the year earlier quarter.

Revenue: Fell 1% to $2.78 billion YoY.

Actual vs. Wall St. Expectations: EIX reported adjusted net income of of 68 cents/share. By that measure, the company beat the mean estimate of 63 cents/share. Estimates ranged from 52 cents per share to 70 cents per share.

Quoting Management: “Our first quarter results are consistent with our 2011 earnings outlook,” said Ted Craver, chairman and chief executive officer of Edison International.

Key Stats:

A year-over-year revenue decrease last quarter snaps a streak of two consecutive quarters of revenue increases. Revenue rose 0.6% in the fourth quarter of the last fiscal year and 3.4% in the third quarter of the last fiscal year.

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)

Today’s Performance: Shares of EIX are trading at $39.27 as of May 2, 2011 at 8:43 AM ET, unchanged from the previous close.

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