Edison International

Earnings Performance: Edison International reported core earnings per share (EPS) of $1.37 for Q1 2025, up from $1.13 in Q1 2024. However, this year-over-year comparison is influenced by exceptional circumstances related to the General Rate Case (GRC) and is not deemed particularly meaningful due to pending regulatory decisions regarding revenue adjustments.

Guidance and CAGR Expectations: The company remains confident in meeting its 2025 EPS guidance of $5.94 to $6.34 and anticipates a core EPS compound annual growth rate (CAGR) of 5% to 7% through 2028, translating to projected EPS in the range of $6.74 to $7.14 by 2028. This growth is supported by a significant capital investment plan focusing on wildfire mitigation and grid hardening.

Wildfire Mitigation Challenges: Following recent wildfires, Edison is facing potential liabilities related to the Eaton Fire, with management indicating that while they have not conclusively determined their equipment's involvement, they also do not have evidence ruling out third-party ignition sources. This uncertainty has led to disclosures of probable material losses, signaling potential challenges ahead, which could impact future financial performance.