Edison International (EIX) Q2 2025 earnings summary

Executive summary

• Q2 2025 GAAP EPS was $0.89 and Core EPS was $0.97, both down year-over-year, with net income at $343 million versus $439 million in Q2 2024.

• Confident in meeting 2025 EPS guidance of $5.94–$6.34 and delivering a 5–7% Core EPS CAGR through 2028.

• Ongoing Eaton Fire investigations, with lawsuits filed and a Wildfire Recovery Compensation Program to expedite claims.

• Regulatory progress includes WMCE settlement approval, TKM settlement, and GRC proposed decision.

• Significant wildfire-related litigation and settlements continue to impact financials and risk profile.

Financial highlights

• Q2 2025 operating revenue was $4.54 billion, up $208 million year-over-year; net income was $343 million, down from $439 million in Q2 2024.

• Q2 2025 Core EPS was $0.97, down $0.26 year-over-year, mainly due to higher O&M expenses and regulatory impacts.

• Six-month net income rose to $1.78 billion from $428 million, driven by wildfire settlement recoveries.

• Diluted EPS for Q2 2025 was $0.89, down from $1.13 in Q2 2024.

• Revenues continue to be booked at 2024 authorized levels, pending the final GRC decision.

Outlook and guidance

• Reaffirmed 2025 Core EPS guidance of $5.94–$6.34 and expects 5–7% Core EPS CAGR from 2025 to 2028, targeting $6.74–$7.14.

• Will refresh financial guidance six weeks after the final GRC decision, including capital and rate base projections.

• Minimal equity needs anticipated in consolidated financing plan for 2025–2028.

• Basic EPS guidance for 2025 is $8.22–$8.62, including non-core items through June 30, 2025.