EIX earnings analysis
What we found in EIX's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Edison International reported first-quarter 2026 operating revenue of $4,103 million and diluted GAAP EPS of $1.37, both modestly above consensus. Management reiterated 2026 core EPS guidance of $5.90–$6.20 and noted a $15 million (approximately $0.04 per share) of non-core items in Q1. The quarter shows a year-over-year revenue increase but material declines versus the prior quarter and continued wildfire-related volatility and interest-rate related financing items.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue modest beat vs. consensus
- Reported operating revenue was $4,103 million for Q1 2026, slightly ahead of consensus revenue $4,099.03 million (per the filing).
- GAAP/diluted EPS beat estimates
- GAAP EPS was $1.38 (diluted $1.37) for Q1 2026, above the consensus EPS estimate of $1.31 (all figures per the filing).
- Core EPS improved vs. prior year
- Core EPS for Q1 2026 was $1.42 compared with $1.37 in Q1 2025 (an increase of $0.05), as reported in the filing.
- 2026 core EPS guidance reaffirmed
- Management affirmed 2026 core EPS guidance of $5.90–$6.20 (per the filing).
- Non-core items disclosed
- The company recorded $15 million of non‑core items in Q1 2026, equal to approximately $0.04 per share (per the filing).
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Quarterly volatility vs. prior quarter
- Revenue of $4,103 million in Q1 2026 declined materially versus Q4 2025 revenue of $5,210 million (a decrease of $1,107 million), indicating quarter-to-quarter volatility (comparative figures as reported in the filing).
- Wildfire-related recoveries and non-core swings
- The filing shows non-core items of $15 million in Q1 2026 (approximately $0.04 per share), underscoring swing risk from wildfire-related items recorded in the period.
- Interest / debt profile referenced
- The filing discloses outstanding debt instruments (example: senior notes at 6.25% due 2030) and a term loan due March 2027, highlighting exposure to higher interest costs (rates and maturities stated in the filing).
- Guidance sensitive to non-core adjustments
- The filing notes the company's 2026 basic EPS line effectively reflects a $0.04 deduction for non-core items (management shows core EPS guidance $5.90–$6.20 and an adjusted basic EPS line of $5.86–$6.16 after a $0.04 non-core adjustment).
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.37
What they said about what is next.
Management affirmed 2026 core EPS guidance of $5.90–$6.20. The filing also shows a $0.04 per share of non-core items reflected (yielding an adjusted basic EPS line of $5.86–$6.16 after the $0.04 deduction). No quantitative revenue guidance provided in the 10-Q.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 18, 2026
- Edison International reported a sizable year-over-year earnings increase in 2025 driven largely by SCE settlement-related non-core items, while core earnings and regulated rate base also grew. Management emphasizes a…
- 10-Q · October 28, 2025
- Edison International reported a stronger Q3 driven by SCE: consolidated net income available increased to $832 million (Q3 2025) from $516 million in Q3 2024, driven by SCE core earnings increasing $327 million…
- 10-Q · July 31, 2025
- Edison International reported mixed Q2 results: consolidated/SCE operating revenue rose to $4,532 million (up $208 million vs. Q2 2024) but operating income fell to $794 million (down $122 million), driving Edison…
- 10-Q · April 29, 2025
- Edison International reported consolidated revenue of $3,811.0 million and GAAP EPS of $1.37 for Q1 2025, beating the EPS consensus of $1.19 but missing revenue. The quarter's earnings improvement was driven largely by…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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