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Edison International (EIX) Q1 Earnings & Sales Lag Estimates

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Zacks Equity Research
·3-min read
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Edison International EIX reported first-quarter 2020 adjusted earnings of 63 cents per share, which missed the Zacks Consensus Estimate of 77 cents by 18.2%. The bottom line remained flat year over year.
 
Excluding adjustments, quarterly earnings came in at 50 cents per share from continuing operations compared with 85 cents in first-quarter 2019.
 
Total Revenues
 
Edison International's first-quarter revenues came in at $2.79 billion, lagging the Zacks Consensus Estimate of $2.97 billion by 6.6%. Moreover, the top line declined 1.2% from the year-ago quarter’s $2.82 billion.
 
Operational Highlights
 
In the reported quarter, total operating expenses increased 0.6% year over year to $2,488 million. Operation and maintenance costs decreased 0.1% year over year, while purchased power and fuel costs declined 7.7%. Meanwhile, depreciation and amortization expenses increased 0.8%.
 
Edison International registered an operating income of $302 million in the first quarter compared with $352 million reported in the year-ago quarter.
 
Interest expenses were $225 million, higher than $194 million incurred in the prior-year quarter.

Edison International Price, Consensus and EPS Surprise

Edison International Price, Consensus and EPS Surprise
Edison International Price, Consensus and EPS Surprise

Edison International price-consensus-eps-surprise-chart | Edison International Quote

Segment Results

Southern California Edison’s (SCE) first-quarter earnings were 60 cents per share compared with 90 cents a year ago.
 
The Parent and Other segment incurred a loss of 10 cents per share compared with the year-ago quarter’s loss of 5 cents.

Financial Update

As of Mar 31, 2020, cash and cash equivalents were $1,337 million compared with $68 million, as of Dec 31, 2019. Long-term debt amounted to $19.13 billion, higher than the 2019-end level of $17.86 billion.

Net cash from operating activities during the first three months of 2020 was $315 million compared with $210 million in the prior-year quarter. Total capital expenditures summed $1,268 million at the end of the first quarter, up from $1,074 million a year ago.
 
Zacks Rank
 
Edison International currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
 
Recent Utility Releases

FirstEnergy Corporation FE delivered first-quarter 2020 operating earnings of 66 cents per share, which beat the Zacks Consensus Estimate of 64 cents by 3.13%.

NextEra Energy NEE reported first-quarter 2020 adjusted earnings of $2.38 per share, which surpassed the Zacks Consensus Estimate of $2.21 by 7.7%.

CMS Energy Corporation CMS reported first-quarter 2020 adjusted EPS of 86 cents, which surpassed the Zacks Consensus Estimate of 77 cents by 11.7%.

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Edison International (EIX) : Free Stock Analysis Report
 
FirstEnergy Corporation (FE) : Free Stock Analysis Report
 
CMS Energy Corporation (CMS) : Free Stock Analysis Report
 
NextEra Energy, Inc. (NEE) : Free Stock Analysis Report
 
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