NYSE$EIX
Edison International · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Edison International reported mixed results for Q3 2023, with GAAP EPS declining and core EPS slightly decreasing year-over-year. The company reaffirmed its 2023 EPS guidance and long-term core EPS growth target.
Edison International reported a net income of $155 million, or $0.40 per share, for the third quarter of 2023, compared to a net loss of $128 million, or ($0.33) per share, in the third quarter of last year. Core earnings were $531 million, or $1.38 per share, compared to core earnings of $564 million, or $1.48 per share, in the third quarter of last year. The company reaffirmed its 2023 core EPS guidance of $4.55-$4.85 and reiterated its long-term core EPS growth target of 5%-7%.
- GAAP earnings per share were $0.40; Core EPS was $1.38.
- Edison International reaffirmed its 2023 EPS guidance of $4.55-$4.85.
- The company reiterated its long-term core EPS growth rate target of 5%-7% for 2021-2025 and 5%-7% for 2025-2028.
- A net after-tax charge of $323 million was recorded due to a revised best estimate of expected losses for 2017/2018 Wildfire/Mudslide Events.
Headline financials
Revenue & EPS history
Edison · Revenue · Quarterly
$4.7B
Forward guidance
Edison International reaffirmed its earnings guidance range for 2023.
Tailwinds
- Reaffirmed 2023 core EPS guidance range.
- Ongoing commitment to delivering 5% to 7% core EPS growth through 2025 and 2028.
- Confidence in reaffirming 2023 core EPS guidance range.
- SCE's industry-leading, multi-layered wildfire mitigation practices differentiate the company.
- SCE has made tremendous progress since 2018, reducing its risk of losses from catastrophic wildfires by 85%.
Headwinds
- Revised best estimate of expected losses for 2017/2018 Wildfire/Mudslide Events, resulting in net after-tax charge of $323 million.
- Southern California Edison’s third-quarter core earnings per share (EPS) decreased year over year, primarily due to higher interest expense.
- True-up recorded in the third quarter of last year related to the Customer Service Re-Platform (CSRP) decision.
- Edison International Parent and Other’s third-quarter core loss per share increased year over year, primarily due to higher interest expense.
- Higher than expected costs to settle claims.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.1%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+1.2%
Avg return
30 days after
56%
40 / 71 earnings
Positive
+6.9%
Q2 2022
Best reaction
-9.6%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.8% | +1.6% | +3.0% | |
| Q4 2025 | +2.1% | +7.9% | +0.1% | |
| Q3 2025 | -1.2% | -3.0% | +5.1% | |
| Q1 2025 | -8.9% | -6.5% | -5.2% | |
| Q4 2024 | +6.0% | +7.5% | +13.3% | |
| Q3 2024 | -1.5% | -4.0% | +4.6% | |
| Q2 2024 | +3.2% | +4.4% | +11.5% | |
| Q1 2024 | -0.1% | +1.4% | +4.7% | |
| Q4 2023 | +0.5% | -0.4% | +2.4% | |
| Q3 2023 | +0.9% | +1.3% | +7.0% | |
| Q2 2023 | +1.2% | -1.5% | -3.0% | |
| Q1 2023 | -3.1% | -0.5% | -9.8% | |
| Q4 2022 | +3.7% | +0.0% | +3.3% | |
| Q3 2022 | -2.1% | -1.7% | +9.1% | |
| Q2 2022 | +6.9% | +8.3% | +9.3% | |
| Q1 2022 | +3.6% | +3.5% | +3.6% | |
| Q4 2021 | +5.6% | +7.8% | +16.6% | |
| Q3 2021 | -0.8% | +1.2% | +3.5% | |
| Q2 2021 | -4.1% | -2.5% | +1.2% | |
| Q1 2021 | -0.8% | +1.0% | -5.9% | |
| Q4 2020 | -4.4% | -2.8% | +7.5% | |
| Q3 2020 | -2.8% | -3.7% | +9.5% | |
| Q2 2020 | +1.2% | +4.7% | -2.7% | |
| Q1 2020 | -7.8% | -6.6% | -3.7% | |
| Q4 2019 | -9.6% | -8.1% | -25.5% | |
| Q3 2019 | -3.7% | +1.6% | +8.2% | |
| Q2 2019 | -0.1% | -1.1% | +1.5% | |
| Q1 2019 | -4.8% | -4.3% | -5.7% | |
| Q4 2018 | +1.2% | +3.1% | +2.2% | |
| Q3 2018 | +0.4% | -1.8% | -20.8% | |
| Q2 2018 | -0.5% | -0.3% | +0.9% | |
| Q1 2018 | -2.9% | -2.8% | -5.1% | |
| Q4 2017 | +5.2% | +3.0% | +5.2% | |
| Q3 2017 | +0.6% | +0.1% | +2.4% | |
| Q2 2017 | -0.8% | -0.0% | +2.3% | |
| Q1 2017 | -1.1% | -0.3% | +2.0% | |
| Q4 2016 | +1.1% | +3.3% | +5.0% | |
| Q3 2016 | -3.8% | -4.3% | -6.7% | |
| Q2 2016 | +1.8% | +0.7% | -5.4% | |
| Q1 2016 | +1.4% | — | — | |
| Q4 2015 | +5.6% | — | — | |
| Q3 2015 | -5.9% | — | — | |
| Q2 2015 | +1.6% | — | — | |
| Q1 2015 | +1.6% | — | — | |
| Q4 2014 | -0.9% | — | — | |
| Q3 2014 | +0.8% | — | — | |
| Q2 2014 | +0.3% | — | — | |
| Q1 2014 | -0.8% | — | — | |
| Q4 2013 | +1.0% | — | — | |
| Q3 2013 | -0.5% | — | — | |
| Q2 2013 | -1.0% | — | — | |
| Q1 2013 | -2.8% | — | — | |
| Q4 2012 | +2.8% | — | — | |
| Q3 2012 | -0.5% | — | — | |
| Q2 2012 | -3.9% | — | — | |
| Q1 2012 | +0.3% | — | — | |
| Q4 2011 | +1.9% | — | — | |
| Q3 2011 | +2.8% | — | — | |
| Q2 2011 | -5.0% | — | — | |
| Q1 2011 | +1.2% | — | — | |
| Q4 2010 | +3.3% | — | — | |
| Q3 2010 | +3.0% | — | — | |
| Q2 2010 | +0.6% | — | — | |
| Q1 2009 | +3.9% | — | — | |
| Q1 2010 | -0.6% | — | — | |
| Q4 2007 | +1.8% | — | — | |
| Q3 2009 | +5.3% | — | — | |
| Q3 2008 | +5.3% | — | — | |
| Q4 2008 | +1.7% | — | — | |
| Q2 2008 | +1.7% | — | — | |
| Q2 2009 | +1.7% | — | — |
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