# Edison International (EIX) Q2 2025 Financial Results Summary
Released on July 31, 2025, Edison International reported its financial results for the second quarter of 2025, showcasing varying performance metrics compared to the previous year. Below is a summary of the key highlights from the earnings report.
## Financial Overview
– **Net Income**: $343 million, or **$0.89 per share**, a **$96 million** decrease from $439 million, or **$1.14 per share**, in Q2 2024.
– **Core Earnings**: Adjusted core earnings stood at $374 million, or **$0.97 per share**, down **21.2%** from $475 million, or **$1.23 per share**, reported in the same quarter last year.
– **Operating Revenue**: Increased to **$4.543 billion**, up **4.8%** from **$4.336 billion** in Q2 2024.
– **Operational Expenses**: Total operating expenses reached **$3.768 billion**, an increase of **9.7%** from **$3.436 billion** a year ago.
## Key Metrics
– **Core EPS Guidance**: The company reaffirmed its full-year 2025 core EPS guidance in the range of **$5.94 to $6.34**, consistent with previous estimates.
– **Core EPS Growth Forecast**: Edison International anticipates a growth of **5-7%** in Core EPS from 2025 to 2028, estimating a range of **$6.74 to $7.14**.
## Dividends and Share Repurchase
– **Dividends**: Common stock dividends paid amounted to **$637 million**, up from **$595 million** in the same period last year, reflecting an increase of **7.1%**.
– **Share Repurchase**: The company reported a repurchase of common stock amounting to **$29 million** during the first half of 2025.
## Operational Developments
– The ongoing **Eaton Fire investigations** and the company’s plan to initiate a **Wildfire Recovery Compensation Program** highlight significant commitments to addressing wildfire-related challenges and regulatory compliance.
– Edison International achieved continued regulatory progress, including **WMCE settlement approval** and a **final decision in the WM/VM proceeding**.
## Current Challenges
– **Interest Expenses**: Edison International reported a rise in interest expenses for the quarter, negatively impacting the earnings from the parent firm and other segments.
– Increased operations and maintenance expenses, alongside the net impacts from regulatory decisions, have contributed significantly to the decline in core earnings year-over-year.
## Summary of Financial Results
– **Basic Earnings Per Share**: $(Q2 2025) $0.89 vs. $(Q2 2024) $1.14, a decrease of **21.9%**.
– **Core Earnings per Share**: $(Q2 2025) $0.97 vs. $(Q2 2024) $1.23, a decrease of **21.3%**.
– **Revenue Growth**: Operating revenue increased by **4.8%**, signifying strong demand and operational output.
## Future Outlook
– The management, led by CEO Pedro J. Pizarro, expressed optimism regarding legislative efforts to enhance California’s wildfire safety measures. They anticipate that legislative actions will foster a stronger regulatory framework going forward.
– The company is focusing on infrastructure resiliency and innovative solutions to mitigate wildfire risks while maintaining its strategic operational plans.
## Conclusion
Edison International’s second-quarter results indicate significant challenges in core earnings and net income compared to the previous year, though operating revenues show positive growth. The company’s commitment to addressing current operational challenges, regulatory compliance, and future growth strategies remains evident as they aim for continued stability and confidence in their financial performance going forward.
# Condensed Consolidated Statements of Income (in millions)
| 2025 | 2024 | 2025 | 2024 | ||
|---|---|---|---|---|---|
| Operating revenue | 4,543 | 4,336 | 8,354 | 8,414 | |
| Purchased power and fuel | 1,157 | 1,234 | 2,204 | 2,242 | |
| Operation and maintenance | 1,580 | 1,285 | 2,563 | 2,602 | |
| Wildfire-related claims, net of (recoveries) | — | — | -1,305 | 615 | |
| Wildfire Insurance Fund expense | 36 | 37 | 72 | 73 | |
| Depreciation and amortization | 826 | 726 | 1,568 | 1,428 | |
| Property and other taxes | 168 | 154 | 334 | 309 | |
| Other | 1 | — | 9 | — | |
| Total operating expenses | 3,768 | 3,436 | 5,445 | 7,269 | |
| Operating income | 775 | 900 | 2,909 | 1,145 | |
| Interest expense | -504 | -480 | -805 | -924 | |
| Other income, net | 113 | 148 | 220 | 286 | |
| Income before income taxes | 384 | 568 | 2,324 | 507 | |
| Income tax (benefit) expense | -14 | 59 | 434 | -54 | |
| Net income | 398 | 509 | 1,890 | 561 | |
| Less: Preference stock dividend requirements | 33 | 49 | 67 | 90 | |
| Preferred stock dividend requirements of | 22 | 21 | 44 | 43 | |
| Edison International | |||||
| Net income available to Edison | 343 | 439 | 1,779 | 428 | |
| International common shareholders | |||||
| Basic earnings per share: | |||||
| Weighted average shares of common stock | 385 | 385 | 385 | 385 | |
| outstanding | |||||
| Basic earnings per common share | 0.89 | 1.14 | 4.62 | 1.11 | |
| available to Edison International | |||||
| common shareholders | |||||
| Diluted earnings per share: | |||||
| Weighted average shares of common stock | 386 | 388 | 386 | 387 | |
| outstanding, including effect of | |||||
| dilutive securities | |||||
| Diluted earnings per common share | 0.89 | 1.13 | 4.61 | 1.11 | |
| available to Edison International | |||||
| common shareholders |
—
# Condensed Consolidated Balance Sheets (in millions)
| June 30 | December 31 | |
|---|---|---|
| ASSETS | ||
| Cash and cash equivalents | 140 | 193 |
| Receivables, less allowances of | ||
| $314 and $352 for uncollectible | ||
| accounts at respective dates | 1,902 | 2,169 |
| Accrued unbilled revenue | 927 | 848 |
| Inventory | 523 | 538 |
| Prepaid expenses | 96 | 103 |
| Regulatory assets | 2,805 | 2,748 |
| Wildfire Insurance Fund contributions | 138 | 138 |
| Other current assets | 419 | 418 |
| Total current assets | 6,950 | 7,155 |
| Nuclear decommissioning trusts | 4,324 | 4,286 |
| Other investments | 63 | 57 |
| Total investments | 4,387 | 4,343 |
| Utility property, plant and equipment, less accumulated depreciation and | ||
| amortization of $14,587 and | ||
| $14,207 at respective dates | 60,797 | 59,047 |
| Nonutility property, plant and equipment, less accumulated depreciation | ||
| of $125 and $124 at respective dates | 202 | 207 |
| Total property, plant and equipment | 60,999 | 59,254 |
| Receivables, less allowances $47 | ||
| and $43 for uncollectible accounts | 61 | 62 |
| at respective dates | ||
| Regulatory assets (include $1,488 | ||
| and $1,512 related to a Variable | ||
| Interest Entity (“VIE”) at | ||
| respective dates | 10,487 | 8,886 |
| Wildfire Insurance Fund contributions | 1,809 | 1,878 |
| Operating lease right-of-use assets | 1,156 | 1,180 |
| Long-term insurance receivables | 365 | 418 |
| Other long-term assets | 2,599 | 2,403 |
| Total other assets | 16,477 | 14,827 |
| Total assets | 88,813 | 85,579 |
| LIABILITIES AND EQUITY | ||
| Short-term debt | 700 | 998 |
| Current portion of long-term debt | 2,699 | 2,049 |
| Accounts payable | 1,962 | 2,000 |
| Wildfire-related claims | 169 | 60 |
| Accrued interest | 520 | 422 |
| Regulatory liabilities | 490 | 1,347 |
| Current portion of operating lease | 120 | 124 |
| liabilities | ||
| Other current liabilities | 1,305 | 1,439 |
| Total current liabilities | 7,965 | 8,439 |
| Long-term debt(includes $1,444 and | ||
| $1,468 related to a VIE at | ||
| respective dates | 34,971 | 33,534 |
| Deferred income taxes and credits | 7,884 | 7,180 |
| Pensions and benefits | 371 | 384 |
| Asset retirement obligations | 2,549 | 2,580 |
| Regulatory liabilities | 11,066 | 10,159 |
| Operating lease liabilities | 1,036 | 1,056 |
| Wildfire-related claims | 568 | 941 |
| Other deferred credits and other | 3,542 | 3,566 |
| long-term liabilities | ||
| Total deferred credits and other | 27,016 | 25,866 |
| liabilities | ||
| Total liabilities | 69,952 | 67,839 |
| Preferred stock | 1,645 | 1,645 |
| Common stock, no par value (800,000,000 shares authorized; 384,786,397 and | ||
| 384,784,719 shares issued and | ||
| outstanding at respective dates | 6,330 | 6,353 |
| Accumulated other comprehensive income | 2 | — |
| Retained earnings | 8,709 | 7,567 |
| Total Edison International’s | ||
| shareholders’ equity | 16,686 | 15,565 |
| Noncontrolling interests – preference |
