Edison International (EIX) Q4 2024 earnings summary

Executive summary

• Core EPS for 2024 reached $4.93, exceeding the midpoint of guidance and continuing a two-decade record of meeting or surpassing annual EPS targets.

• SCE responded to significant Southern California wildfires, prioritizing safety, grid resiliency, and community recovery.

• The board declared a Q1 2025 dividend of $0.8275 per share, maintaining a consistent and growing dividend policy.

• Former U.S. Secretary of Energy Jennifer Granholm joined the board, bringing expertise in energy policy and sustainability.

• Net income for Q4 2024 was $340 million, down from $378 million year-over-year; full-year net income rose to $1,284 million from $1,197 million.

Financial highlights

• Q4 2024 core EPS was $1.05; full-year 2024 core EPS was $4.93, above guidance midpoint.

• Dividend increased by 6.1% in December, marking the 21st consecutive annual increase.

• Operating revenue for 2024 was $17.6 billion, up from $16.3 billion in 2023.

• Operating income for 2024 was $2.93 billion, up from $2.63 billion in 2023.

• Cash flow from operations reached $5.0 billion in 2024, up from $3.4 billion in 2023.

Outlook and guidance

• Revised 2025 core EPS guidance is $5.94–$6.34, reflecting the impact of the TKM settlement.

• Targeting 5%-7% core EPS growth through 2028, now off a higher base of $5.84.

• Awaiting CPUC decision on 2025 GRC, which will drive updates to capital and financing plans.

• SCE expects regulatory decisions on the 2025 GRC, WMCE filing, and Cost of Capital application for 2026-2028 this year.