Edison International (EIX) Q2 2026 earnings summary

Executive summary

• Q2 2026 GAAP EPS was $1.39 and core EPS was $1.54, both up significantly year-over-year, with net income rising to $534 million from $343 million, driven by regulatory decisions and operational strength.

• Year-to-date 2026 core EPS reached $2.97, supporting reaffirmed 2026 guidance of $5.90–$6.20 and a long-term 5–7% core EPS growth target.

• Strong operational performance, grid hardening, and wildfire mitigation remain top priorities, with ~90% of high fire risk area distribution system completed and significant investments in covered conductor and undergrounding.

• Ongoing engagement with legislators on wildfire reform and affordability, with legislative outcomes expected to impact future capital costs and investment prioritization.

• The company completed the disposition of its non-utility subsidiary Trio, resulting in a $23 million loss, deemed non-material to overall results.

Financial highlights

• Q2 2026 core EPS was $1.54, up from $0.97 in Q2 2025, driven by regulatory decisions, higher revenue, and reduced interest expense.

• Net income for Q2 2026 was $534 million, up from $343 million in Q2 2025; core earnings were $592 million, up from $374 million.

• Operating income rose to $1,092 million from $775 million year-over-year, with operating revenue for Q2 2026 at $4,357 million.

• Parent and other core loss improved by $0.06 due to preferred stock redemptions.

• Woolsey Fire cost recovery securitization completed, generating $2 billion in proceeds to retire related debt.

Outlook and guidance

• 2026 core EPS guidance reaffirmed at $5.90–$6.20, with long-term core EPS growth rate of 5–7% annually from 2025–2030.

• 2027 guidance at $6.25–$6.65 and 2028 guidance at $6.74–$7.14.

• Capital investment plan and regulatory framework support continued rate base growth of about 7% CAGR from 2025–2030.

• No equity needs anticipated through 2030, with capital plan visibility through 2028 and financing plan including $7–9 billion in dividends and $9–12 billion in incremental debt.